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SAMs Case Stories
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A couple getting close to retirement are aready paying 1,300 pounds interest per month to the Bank of Scotland for their SAM loan. When they retire, they will be no longer in a position to pay,
but instead of now owning their home,as is normal, it is belonging increasingly to the bank. They will be forced to move, very much downmarket. It is wrong that people should work hard to build for their retirement only to realise that market forces are robbing them of their efforts in favour of a bank. This couple are so upset, they are neglecting the upkeep of their home, leaving it to fall into disrepair. This feeling was expressed by many people at the action group meeting. |
