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jplevene

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About jplevene

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    HPC Poster
  1. Yes, I did the original local hosted website (on my computer only, not the web) as I needed to calculate mortgage breakdowns and the rest were not giving me enough info. A friend then wanted a mortgage and we used the tool I wrote, he said it was good and that I should put it online. When I had some spare time I beefed up the look and posted it free online as http://mortgage-calculator-free.co.uk/ for anybody to use. I don't make any money from it, except for the £1.60 from the Google adds for the past month, these are on all my websites by default. Had a few people thank me, concept is mainly for friends to use when they want to re-mortgage. Surprisingly the site gets loads of hits, so I might spend some time on it and make it look better if I get the chance. When I do have the time, I will ask all here for any suggestions and invite bloggers.
  2. Did a spell check with Word, no spelling mistakes. Checked against other news sources, 100% accurate See - Guardian BBC Sky Notice in the Sky article "The second stage of the Help to Buy scheme aims to boost mortgage availability by reducing the risk for lenders because the Government takes on the risk of default when it guarantees a proportion of a loan." This is the second phase of the Help to Buy and the government UNDERWRITES the rest of the deposit, not gives it. Think a few people here need to go back to school and learn to read !!!
  3. Found an explanation for the proposed first time buyer 5% deposit. http://mortgage-calculator-free.co.uk/blog/2013/09/30/government-backing-5-deposit-first-time-buyers/ Will you still be considered a first time buyer if you owned a property, sold it, moved into rental and after that bought a new property?
  4. I was using a website to breakdown my mortgage costs and made a mistake on the mortgage amount, I accidentally entered £0.00, site seems to have an Easter egg when you do this. Couldn't think of anybody apart from this forum who might appreciate it. Enjoy My result : http://mortgage-calculator-free.co.uk/results.php?at=0&rt=2.75&tp=1&tm=20
  5. He hasn't and it would be too expensive. There is a possible loophole I have been looking into for a UK mortgage for him, and sorry I will not disclose it.
  6. Ask an IFA, basically it must be based on UK taxable income that is either proved via a P60 or SA302 etc. This is FSA regulation.
  7. There is "law" (regulation) set out by the FSA based on UK taxable income, Google it or confirm with an IFA. Speaking to an IFA they will tell you loads of stupidity stories. The best is credit rating is STILL based on how much credit you have (love it when people learn from their mistakes) !!!!
  8. I hate the fact as well, but in the UK we have to live with it. Imagine this: Low house prices = Low mortgage payments, more money for you to spend on quality of life instead of working like mad so that you can pay all your money to profit the bank. This is the country we all chose to live in, and this is the society. At the moment the rules of the society are getting changed to favour the banks (not intentionally). As FSA bring more affordability regulation, less and less people will be able to change their mortgages for cheaper ones and be stuck paying high rates to the banks for life.
  9. I agree, when I first got a mortgage, it was for life, then soon after that people started chopping and changing. Problem is that if the banks offered good rates to stay, then we would, however this is a free market and if others offer us a better rate, we should have the right to go there.
  10. Yes the bank excuse, all of us feel pity for them and believe their feeble excuse to the press. Any IFA will tell you it is to get rid of the mortgages on their books. Why do you stick up for the banks overcharging customers, are you so concerned about their underlying profit margins? Have you got any experience with the FOS, obviously not. Ask any solicitor his/her opinion of them and the "impartiality" they have. £270m is pittance compared the billions they were earning and took. Hey I would love £270m, but divide it out and calculate how much they made from each customer and you will be a bit disappointed. If your best defence is just attacking my integrity and not my argument, then you have no argument. Regarding the £250k, he does file here (never said he didn't), he is taxed on his savings at source in the bank just like you and me, and gets a tax rebate believe it or not due to the minimum earnings threshold. He does not earn enough interest to pay higher rate tax, you need to read up on your tax law before making wild accusations in future.
  11. Why are you a fool when all the regulation at that time said you could? Are they foolish because they couldn't see into the future and predict that regulation would change so drastically, and for those who at the time had higher incomes, is it their fault that they never predicted the crash and their wage reduction?
  12. Why should he sell his house?? He can afford the payments its just he is stuck at a bank. If one day that bank changes its mind and does not want to do mortgages and doubles rates like the Irish banks did, he and many other people I know are screwed. Why should he have to overpay one bank? The regulation is like a monopoly from the bank, if another is officering a better rate, he cant take it, isn't that what free market is? Big deal to the bank, a small percentage refund for those who could afford legal representation. It is not misselling if the person has shown that they could afford and did pay higher or equal payments to another banks and they never defaulted. Why do you all stick up for the banks profit margins and abuse of customers?
  13. Read the post, the other banks would love to take on these mortgages, great repayment history, great collateral, etc. THEY CANT MOVE BECAUSE REGULATION STOPS THEM, SO THEY ARE STUCK !!!! BANKS DON'T SET THEIR OWN LENDING CRITERIA, FSA SET THE MAJORITY !!!! THESE PEOPLE HAVE FINSIHED THE TERM OF THEIR MORTGAGE CONTRACT AND CANT LEAVE THE BANK !!! THE BANKS INCREASING THEIR RATES ARE BEING A MONOPOLY ON THOSE STUCK WITH THEM !!!! If there was only one food shop in your small remote village and one day they just double their prices because you can't go elsewhere, and because they can, this you are saying is fair
  14. I hate to say this, but any reduction in house prices lowers the wealth and value of UK. High house prices = good for country and its economy but not so good for many people Not a good scenario I know, but got to look out for the needs of the many, not the few.
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