JUST EVERYDAY, ORDINARY BANKS GOING ABOUT THEIR LEGITIMATE BUSINESS ? I DON’T THINK SO
I find it ludicrous that despite it becoming more and more widely known the mortgage market is riddled with criminality, that no legal action is being taken which should protect the unfortunate people losing their homes as a result of what is simply criminal fraud on behalf of banks.
I have been systematically ‘milked’ of the entire equity on my house now worth about £800 000. I was deliberately ‘pushed’ by the original high street lender from a mortgage of only £100 000 on that house into sub-prime mortgage after sub-prime mortgage – churned is the word used by that filthy industry – and now I am about to be made homeless by these bastards, now owning nothing.
In other words, I have lost £700 000. It has been stolen from me by systematic fraud on behalf of the banks.
It isn’t just about one particular mortgage, or just one broker or just one bank. people don’t seem to have grasped the fact that there is just a handful of banks who have a cosy monopoly over the entire mortgage lending market.
These evil, corrupt banks have, collectively, devised a cunning system of mortgage lending, using the Council of Mortgage Lenders, the Financial Services Authority and other weasily pseudo legalities – including ‘credit rating’ and contract law – to knowingly fleece mortgage borrowers with dishonest, misrepresented lending.
You only have to compare it with the ‘old fashioned’ type of building society lending to see the difference. It is the same house and the same idea of borrowing money to buy a house, but instead of an honest loan from a building society to a borrower trying to buy a house, the loans have become mortgage ‘products’ or ‘packages’ which are carefully designed to fleece borrowers and at the same time inflate the overall property market to enable the banks to lend ever larger sums of money on ballooning property prices.
Without the huge value of lending in the property market, the banks would be deprived of a gigantic source of potential lending and therefore profit.
So, in a nutshell, the banks, behaving rather like the Mafia, saw there was tons of money to be made in property lending, and they muscled in on it by destroying the old fashioned building societies that had originally been the honest, moral, reasonable, helpful lenders in the housing market.
This has become so blatantly dishonest and destructive that it has now damaged the whole World Economy.
The banks are nothing more than crooks and confidence tricksters who have found a way to misuse and abuse law and regulation to steal money from other people on a breathtaking scale.
It is time the authorities – Parliament, the FSA and so on, to take legal and regulatory action against these out of control thieving banks. They need to make an instant start by preventing mortgage lenders from causing further damage by repossessing homeowners who should never have been put in that position in the first place by these nasty, dishonest loan sharks.
Tags: Bank Charges, Banks, Birmingham Midshires, Capital One, Credit Crunch, Debt, Extortion, financial crisis, Financial Service Authority, Government, High Street Banks, Lloyds Bank, Mortgages, News, Poverty, repossession