The following post has two questions;
1.Higher longevity rates of Japan and Sweden
Japan and Sweden have higher longevity rates than the other developed countries discussed in Holtz, 2017. Discuss the factors such as, but not limited to, health behaviors, healthcare utilization, and healthcare funding that account for the differences between either Japan or Sweden and the United States or the United Kingdom. If healthcare was of primary importance to you, and you could choose to live in any country, what country would you choose and why?
2.Finance
QUESTION
In 2013 Alma and Ben purchased the freehold of 29 Acacia Road for £350,000. They used £50,000 from the sale of a previous property and secured the remaining funds through a legal mortgage with Cantander Bank for £300,000. They were excited to have found their ‘forever home’ and moved in with their two children Denni and Eddi, and their dog Fluffy.
At the time Alma and Ben had been employed as gardeners at the local heritage site, Bedside Manor, but in 2014 they decided to open their own plant and garden centre, ‘Hope Blooms’. Unfortunately, due to the economic downturn, the business did not flourish and they were forced to close it last year.
Currently they are really struggling financially and they are just about able to keep the family fed and clothed but the bills are mounting up. They are currently 8 months in arrears with the mortgage payments, which are fixed at £980 per month.
Alma has been able to return to Bedside Manor on a part-time basis but Ben has only been able to find a few local jobs mowing lawns in the neighbourhood occasionally. He hopes to secure full-time employment at the new garden centre in town, ‘Green Fingers’, and has sent them his CV.
Cantander have sent a number of requests for payment and are now threatening to apply for repossession of the property in order to sell it and pay off the outstanding mortgage debt. Cantander are valuing the property at £365,000, which would be enough to clear the debt.
Alma and Ben however, are not convinced that this valuation fully reflects the true market price, as they have secured planning permission for a self-contained annexe and workshop at the rear of the property. They need the property to achieve the maximum price, as they are liable to repay a number of other unsecured loans with other lenders.
For those in the group representing Alma and Ben
1). Advise Alma and Ben as to whether they can defend a claim by Cantander to repossess and sell the property, and their chances of doing so.
2). Make a case for Alma and Ben to sell the property themselves on the open market if it has to be sold.
3). Finally, include in your advice any other matters you think Alma and Ben should be aware of as regards the bank’s conduct.