Chippie
Member
- Messages
- 854
- Location
- Newcastle upon Tyne, UK
Likewise….except don’t go to the bank….unless it’s to deposit a cheque from someone….and haven’t spoken to a bank manager in more yrs than I care to remember..
- Thread starter ukracer
- Start date
I'm obviously missing something here . . .
Shox Dr
Chief Engineer to Carlos Fandango
- Messages
- 18,005
- Location
- East Yorkshire
He was my Business Manager some 20+yrs ago. Sadly he died at the age of 39
He didnt have or use Credit cards. The Mortgage he had clearly wasnt enough to convince them he was able to pay it back
Nor me till this last one. Totally different rules now apparently.
Yeah the red tape....
8ob
Member
- Messages
- 14,386
- Location
- Nescient in the vale
What you have in the way of assets, savings or investments will not improve your credit score, folk like this with millions tied up elsewhere cant to take advantage of any interest free schemes for a cars etc because of a poor credit score. Others that dont have a pot to pi55 in and that have eveything on the tick can.
Bob
weldingnovice
Member
- Messages
- 265
- Location
- Northeast
Policy/base rate of interest doesn't correlate from borrowing to saving rates offered by the banks.
Bit like crude and pump prices fluctuations never work to the consumer's benefit.
2008 thru 2009 ish when rates were dropping bank didn't pass on the changes to my variable mortgage account. As it happened I had missed maybe 8/9 months payments in a row , ltv threshold for default had been breached so went for repossession. At court hearing I brought it to the judges attention and he set aside the application. Banks legal t1t was well ******
Maybe now after I don't know a dozen rate increases may get a bit of interest, but wouldn't hold my breath.
Bit like crude and pump prices fluctuations never work to the consumer's benefit.
2008 thru 2009 ish when rates were dropping bank didn't pass on the changes to my variable mortgage account. As it happened I had missed maybe 8/9 months payments in a row , ltv threshold for default had been breached so went for repossession. At court hearing I brought it to the judges attention and he set aside the application. Banks legal t1t was well ******
Maybe now after I don't know a dozen rate increases may get a bit of interest, but wouldn't hold my breath.
Shox Dr
Chief Engineer to Carlos Fandango
- Messages
- 18,005
- Location
- East Yorkshire
You dont know my BIL. Wouldnt increase a bid on a house by £15k, saying it wasnt worth it (oh yes it was) But didnt have problem dumping £42K on a new M4 trading in a 3yr old M4 losing £20K. apparently that was 'different' money.
addjunkie
Member
- Messages
- 13,778
- Location
- Northumberland. Reet oot in the sticks
Why just keep paying the 30quid a year…….how long is left on your lease?
Your viewing the old days with those rose tinted glasses again. But I dont disagree in principle.
But your credit score History is easy fixed if you want to bother. Things that you pay on time monthly for example your mobile phone, car insurance etc are all forms of credit. Even getting a bad debt type credit card and settling* bill every month helps.
All these affordability checks they now do for mortgages are to prevent a repeat of the 100% and cant pay scenarios of days gone by. Money has been too cheap and too easy to get in recent years causing some folk to live way above their means. Hence those playing the credit scores so they can finance the new rangie or whatever!
Kayos
Gone......
- Messages
- 9,408
- Location
- Yorkshire
I have access to a commercial service, for checking the finances of companies that we want to work with
They have a score, much simpler than the personal credit score plus credit and contract limits, along with other financial information
It doesn't decide who we deal with, but adds to our risk profile
It's great for the people who claim to have hundreds of installers but it's just a bloke at his kitchen table, employing subbies. Catch them before we even discuss projects
They have a score, much simpler than the personal credit score plus credit and contract limits, along with other financial information
It doesn't decide who we deal with, but adds to our risk profile
It's great for the people who claim to have hundreds of installers but it's just a bloke at his kitchen table, employing subbies. Catch them before we even discuss projects
- Messages
- 14,692
- Location
- UK
We use the same. It's quite interesting to see how quickly companies pay their bills. Especially suppliers with their holier-than-thou attitudes who are paying their own suppliers 90+ days beyond terms!
Morrisman
Forum Supporter
- Messages
- 8,977
- Location
- Staffordshire, England
Yes, the first line of my credit card statement tells me how much I have left to spend, in large clear letters, not how much I owe.
According to Lloyds bank I am not even allowed to have a mortgage, because my income is from a foreign source. They refused to remortgage my house when I got divorced 6 years ago, even though I was already mortgaged with them and had been for 15 years or more. They told me it was the law.
I walked across the road to HSBC and they were happy to take my money.
mike os
just a little insane.....
- Messages
- 9,806
- Location
- North Wales
Wheni repaid my mortgage my credit score fell over 300 points in a month ... that makes sense to me .... when was spending 70% of my income on 'credit ' I was 30% more credit worthy than I was after I had just repaid 90+% of my credit debit
Makes sense only if you realise what they want is you to slip unknowingly into unmanageable debt so they collect fees and fines and can 'arrange all your debts into one manageable monthly payment' that for most means you will probably end up going bankrupt in the early future
Makes sense only if you realise what they want is you to slip unknowingly into unmanageable debt so they collect fees and fines and can 'arrange all your debts into one manageable monthly payment' that for most means you will probably end up going bankrupt in the early future
51 years left. There is much confusion as to how much it will cost in the future to purchase it due to marriage value. Plus is cost just over a grand to get a valuation and they won't give you a quote for legal services of which you have to pay both parties costs.
My recent further advance was for a short term fix to the debacle caused by Truss and Kwarteng. Along with Putin etc
My costs are just over 500 quid per month extra than before they opened their mouths.
This was to be used to pay down debt already incurred to fund a lifestyle following ny wifes stroke. (She claims to live life to the full) but refuses any money from her dad who is loaded and will pay a lot of it in tax when he pegs it.
He's in no rush to give it her early for the same reason he would not give any to his other daughter who died of cancer earlier this year. He hates the thought of me getting his money if my wife was to die before me. He hated even more my Sister in laws partner getting any as they were not even married.
My wife is very difficult to handle with her reduced capacity to understand money and bills since her stroke. Her only goal is to leave as much money as possible to the grandkids whilst at the same time spending on them in the here and now.
It's hard. Damn hard at times...
My only problem with my credit rating is only the % of debt used from what I have available. Ironically the card companies keep increasing the limits. To encourage me to use it.
The affordability checks don't take into account future income l.
I have never purchased a new car and my current one is worth about 1.5k.
My short term problem was caused by short term borrowing followed by unprecedented increase in fuel costs and stealing money to fund the ultra rich.
Strange I just got offered a further advance by lloyds. 16k but they paid it to a solicitor who I had not instructed.
So it took me a week to get it back to them. Phone call after phone call.
Then when it finally go back to them they refused to send it to me despite be already paying the larger mortgage payment.
They refunded me that after 12 working days.
Apparently any money borrowed for a lease extensions or purchase has to be sent to a solicitor. But they claim its the law. However the solicitor knows of no such law...lol
Morrisman
Forum Supporter
- Messages
- 8,977
- Location
- Staffordshire, England
They seem to be a law unto themselves, Lloyds. They told me I had to watch some silly video about money lending and financial risks, before they could process my loan application. It was the law. Nobody else I know has ever heard of that....Strange I just got offered a further advance by lloyds. 16k but they paid it to a solicitor who I had not instructed.
So it took me a week to get it back to them. Phone call after phone call.
Then when it finally go back to them they refused to send it to me despite be already paying the larger mortgage payment.
They refunded me that after 12 working days.
Apparently any money borrowed for a lease extensions or purchase has to be sent to a solicitor. But they claim its the law. However the solicitor knows of no such law...lol
So they knew my situation, foreign income, then they faffed about for 15 minutes trying to get this 'compulsory' video to play on their PC monitor, then they gave up, and then they told me I can't have the re-mortgage anyway.
Utter shower of ****. I had nothing to do with them after that, closed my last accounts, moved everything to HSBC.
