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Gummer’s freedom is the liberty to be stuck in one place

I was interested to read last week that the Association of Mortgage Intermediaries’ chairman, the former MP John Gummer, refers to home ownership as the basis of freedom.

I used to have a lot of respect for AMI, it was a good campaigning organisation, but idiotic statements like this cannot help it. So a young,
unemployed home owner in negative equity has freedom while a young unemployed renter has none?

The unemployed renter will get local housing allowance while they look for a job and also can move to a different part of the country to find
work much more easily than a home owner in negative equity.

I feel sorry for AMI being saddled with a dinosaur like Gummer – my main memory of him as a Tory minister was trying to feed his daughter a burger during the BSE crisis.




SVRs are too high, says Which?

The majority of lenders’ standard variable rates are too high and further increases following a base rate hike could leave thousands of households in financial difficulty, Which? has warned.

Fairness could just saddle borrowers with growing debts

The FSA last week published its annual report for the year 2010/11, in which it warns there will be more action taken against firms for treating customers in arrears unfairly. But is it really treating customers fairly to have kept them in their homes for the past two to three years paying the minimum amount […]


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