Miss one month’s mortgage - and just forget about it?

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Violet Terrace

Soweby Bridge

So with the recent Project Merlin George Osborne has declared that the war on bank’s (War? Minor skirmish at best surely?) is over and we can all move on.

Well that’s alright then. I for one, feel vindicated and able to let go of the fact that my carefully accrued savings are earning naff all and that my endowment has fallen so far short of it’s target it might as well have been a Wes Brown clearance.

However one benefit of Gorgeous George’s profligacy is that it has got me thinking, and that is not to be underestimated. I am thinking why not extend this level of leniency and implicit empathy to the rest of us.

So for instance when we miss a mortgage payment we can point out to the bank (who after all should understand this better than anyone) that after months of never missing on a payment one month’s abstention is nothing to get too excited about, and can’t we just forget about it and move on ?

The same rules could of course be applied when we go overdrawn or when we pay too little tax or on any occasion when something that is really not our fault causes us to come into conflict with some monolithic organisation.

We can just shrug our shoulders, offer some banker like apology ( i.e. none at all ) and declare like Bob Diamond, chief executive of Barclays, who himself had to suffer the indignity of an £8m bonus, that the bankers’ “period of remorse and apology should be over”. And that now ours should be too.

And naturally this extends beyond all matters financial. Murderers can legitimately say. “Look I killed someone one particular day, but for the other 364 days of that year I managed not to kill anybody at all so can we not just forgive and forget?” Same goes for the motorist caught drink driving, or speeding.

Or the person whose dog, up until then an amiable bundle of slobbering joy, who when it rips some child’s face open, can claim it was just a temporary aberration and after a suitable period of canine remorse can it not go back to barking loudly at all times of day and night and leaving bankers bonus size jobbies all over the pavement? (Especially prevalent around Park Road in Sowerby Bridge I might add )

So I’m with David Buik, a market analyst with BGC Partners, who showed his analytical skills with a comprehensive economic response to the bonuses: “Life is not fair... Folks, get over it! Let’s move on!” He is spot on.

Life is not fair and we might as well get used to it because in all likelihood it is not going to get any fairer any time soon.

Russell Clarke