Morses Club Share Discussion Threads

[yump] 27/5/2021 14:37

I’ve not had any claim phone calls recently - think I’m on a blacklist after wasting a lot of their time while I’m tapping away at the Keyboard.

Best one was one of the accident lot - strung them along for ages until the point when I started to describe the car that collided with me: black, no markings, coming up the motorway behind me ver fast, with blue flashing lights in its front bumper...

[bostik17] 27/5/2021 11:17

Hi Yump. No problem I did sense there were a few nerves - lol. The CMCs is an interesting conversation. My understanding which could be wrong is that there are 2 types. CMCs which are supposed to be regulated by the FCA and solicitors firms who are overseen by the legal regulator the SRA. Apart from them being ambulance chasers which take a big slug of any payout they understand how to work the system and the FCA and FOS changing their stance retrospectively has not helped. By the way any customer who feels they have a complaint can go direct to the companies and they would be treated in the same way. If you read any of the commentary on this topic the CMCs are using strong arm tactics. Any referral to FOS has a high FOS charge before it starts. I think it’s £750 + VAT so a quick thousand of those and it’s nearly £1m straightaway. Then as per articles from the CCTA the uphold rate at FOS has massively jumped in the past year and that’s not because the lenders are doing anything different. The stories are because the FOS have taken a sheep dip approach similar to PPI cases when these lending cases are often more complex and need careful analysis. There are signs some of the industry messaging about this is getting through as it’s becoming more visible but it’s interesting to watch. I’ll shut up now before I wear my typing finger away

[yump] 27/5/2021 08:52

Bostik17

Skirmish ended ! A few nerves hit temporarily !

We can start on the miracle of the FCA actually doing something now...

Shame that these claim companies aren’t regulated in some way - as far as I can make out there’s quite a few ‘compensations’ that are handed out just to avoid bad PR, when there’s not a genuine reason for the claim.

There was a spate of adverts about ‘your investment losing money - misselling’ last year. Funny that - almost all investments plummeted because of covid.

Bit of a contrast to an asbestosis claim.

[smithie6] 26/5/2021 15:15

I have deleted my posts about housing since I was rambling away off thread/topic

yump, apologies for my waffling

[bostik17] 26/5/2021 11:46

And there was me in my simple world thinking (and hoping) that now the AMGO rampers have shut up we might get a MCL room back. Ahem

[yump] 26/5/2021 08:39

Why are you assuming some of my views that I haven’t expressed at all ?

Isn’t anyone on here able to avoid splitting people into neat little “opponentsR21; and “supporters221;.

What I’ve actually expressed is a distaste to put it mildly, of landlords that have moved tenants out just to get a pile more money, by accident of covid.

So sorry for saying “kicked out” but that is what it looks like and will feel like for someone who thought they had a home.

Walk in their shoes for just one minute.

What I’m not saying:
All landlords are greedy
All tenants are great
People have been literally kicked out before a rental period ends
Nobody should buy a second home
Nobody should inherit a home
I’m a rampant Communist

FFS

[smithie6] 25/5/2021 12:25

applause for the FCA

in opposing the Amigo scheme

which was presented to the clients as a take it or we are bust scheme, & with only 15% of future profits for ~4 years added to pay a part, not all, of claims.

why 15% & not 30% or 45% ?

if the claims are fair/correct (are they ??) then there is an obligation to pay them imo, or at least to try, 15% of profits does not look like an honest attempt 'to try'

usually the FCA are a disaster & only investigating years after the scam/scandal has happened, this time they have participated (well, in the court case anyway, not in avoiding the problem) so well done FCA

[yump] 25/5/2021 08:54

Smithie

I was talking about landlords who were renting to people who were living in the properties until the landlords kicked them out because they could suddenly get way more money from staycations.

No problem with all the other second home freedom stuff but that is just wrong in my book.

I don’t have the solution of course - rents are short term - but I would never do that and it shocks me that anyone would condone it, especially in the last year

[bostik17] 25/5/2021 08:25

They’ve just produced their year end accounts and made it clear that whilst complaints are up they haven’t got anywhere near the issue. The next is clearly the Provident who had similar issues and NSF who have similar businesses.

[1choip] 25/5/2021 08:02

Court ruled against Amigo scheme. Would this be the next?

[yump] 24/5/2021 21:49

I just put having somewhere secure to live, way above the temporary greed of a landlord.

[smithie6] 24/5/2021 17:02

2 sides to every trade/deal

if there is a big need for accom. this year then maybe providing accom. is meeting a real need & many ppl might not find any where to stay otherwise & would have to stay at home.

any/most tourist accom. will have had a collapse in occupancy since 1 March 2020, & surely receive no Govt. help & some will have used savings to pay the mortgage costs; or have taken longer term rentals.

Cornwall is normally full for accom. for school holidays every year anyway.

sure, people will charge the max they can get. Perhaps the Govt could control that & limit to say 10% more than the price charged in 2019.

-----

in some areas there is insufficient occupancy over a year to get investors to build a new hotel
so, providing accomodation in pubs, B&Bs, & rooms in homes, complete houses/flats
allows tourists to stay & then spend money in local shops/cafes, restaurants, guided walks etc which can help a village/town

----

complicated subject
but imo it would be wrong if tourist money could only be spent in a hotel & in the hotel's restaurant & in the hotel's bar.

(sure, a property owner renting to tourists makes more profit than a young lad serving pints to tourists in the pub but they both get some benefit; & the property owner should be paying more tax which helps everyone)

[yump] 24/5/2021 14:30

Smithie6

AirBnB thing was in the news for the South West - some people who were working actually having nowhere to live, because of short-term leases.

South West was completely booked out months ago for this year. FACT.

AirBnB overseas - I have no idea.

imo tourist money going to a landlord who is now getting £2000 for a week, instead of their normal rent, will go into that landlords assets, possibly to buy more property, not get divided up amongst the rest of society.

Genuine AirBnB seems fine. Its got distorted and staycations have made the greedy landlords rub their hands in glee.

[1choip] 24/5/2021 08:38

Not comfortable with the article about 'CMC could the next'.

[smithie6] 23/5/2021 18:42

landlords kicking out tenants so they can Airbnb instead, for more money.

not true recently imo
The number of tourists wanting rooms has imploded. People have generally not been allowed to travel.

-----

The Govt (& the EU) has allowed immigration & all those people need somewhere to sleep, rooms & homes. ( & many that get housed in Scotland, asked to be taken somewhere else ! je je)

The Govt thought it had 3 million ppl from Europe but 5 million applied for residency !!, ie. the Govt has not managed or monitored the situation (& before Brexit Europeans had the right to move to live in the uk). rental prices are driven by the balance of supply/demand. Too much demand then high prices.

( if some tourist rental money goes to rent a room in a house then the tourist money is divided more in society, whereas if tourists only sleep in hotels then the tourist money goes only to the rich hotel owners & is not shared with society

wherever tourists sleep they will 'consume' m2 (in hotels or in private homes) those m2 can not be used for long term tenants. If stop all tourism then that problem would be stopped. ;-)
but no country will do that since they want/need the money/business from tourists

[smithie6] 23/5/2021 18:29

a quote from that interview

from the MD of MCL
He says: 'The FCA themselves say there are 15million adults in the UK that have zero savings in cash or less than £100. So where is the money coming from genuine friends to lend? It's non-existent.'

& as he points out many of those people need to borrow money for things like Xmas.

seems very normal to me. (hopefully the minimum wage has lifted many people/families out of needing to borrow at Xmas time)

(the MD grew up with 5 siblings
so it phps not surprising that the family was poor, imo; if you decide to have 6 kids you know its gonna cost you a lot more money than having say 2)

[1choip] 23/5/2021 17:02

You prefer high risk high interest or high risk low interest. Hope uk bankers can answer that.

[yump] 23/5/2021 12:16

He's dead right.

Lots of people slag off high interest loans, but they need to be asked what the alternative is, for higher risk, zero asset customers.

Or perhaps write to Bezos and ask him to set up very low interest lending for the poorest people.

What with the landlords kicking out tenants, so that they can AirBnB their properties for silly amounts currently, we're becoming more like India every day.

Perhaps one day the Labour party will actually find an agenda that really does deal with the people they claim to represent.

[1choip] 21/5/2021 11:29

Lucky i didnt get any Amigo at 20's following to the recent promotions. Otherwise, I would be in the position sucking toes this morning.

[farrugia] 21/5/2021 11:14

peaky taunting us everyday for not buying Amigo instead of Morses Club ha

[1choip] 21/5/2021 11:03

MCL now become the largest provider for home credit services (previously second after PFG).