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eric pebble

Home Buyers Must 'live On Credit Card' To Get Mortgage

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Home buyers must 'live on credit card' to get mortgage

"First-time buyers are being told to "live on a credit card" to secure a mortgage, the Standard has learned.

Brokers are telling people with small deposits they have no hope of securing a loan if they cannot show they have a history of managing debt."

:rolleyes: More fiddles, no doubt.

----------------------------

But - it's this old chestnut again:

"The advice is the latest sign of how strict mortgage-screening rules are locking out first-time buyers."

http://www.thisislondon.co.uk/standard/art...gage/article.do

-----------------------------

NO!!: PRICES ARE UNAFFORDABLE. PERIOD. [Morons.... :angry: :angry:]

God, people are THICK.

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Since when was living off a credit card 'managing' debt?

Just highlights how fcked up this country is that, firstly, there are idiots advising this, and secondly, there are idiots taking the advice.

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:( they'll be demanding an RFID implant next. so you can prove you can manage your movements.

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:( they'll be demanding an ID Card next. so you can prove you can manage your movements.

FYP :ph34r:

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Don't joke!

:ph34r:

I wasnt...watched a prog yesterday where some VI was saying implants would stop child snatches, would help accident victims and detect crime.

he focused on the first one...child snatches...emotive of course, very very rare...not mentioned.

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I wasnt...watched a prog yesterday where some VI was saying implants would stop child snatches, would help accident victims and detect crime.

he focused on the first one...child snatches...emotive of course, very very rare...not mentioned.

Clearly you don't want to think of the children, why won't you think of the children instead of your own selfish needs.

What have you got to hide?

Are you that nasty child snatcher out of chitty chitty bang bang with the big nose?

RFID makes you free.

Just think of all the fraud it would stop, the govt would know be able to prevent all crime.

We shouldn't just have a normal RFID chip we should have one that can send an electronic shock across the brain disabling you immediately if the police need to arrest you. Just think of the crowd management potential? No more protests, no more hooliganism etc...

If fact I bet you where fighting the other night at the West Ham match weren't you? :P

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Clearly you don't want to think of the children, why won't you think of the children instead of your own selfish needs.

What have you got to hide?

Are you that nasty child snatcher out of chitty chitty bang bang with the big nose?

RFID makes you free.

Just think of all the fraud it would stop, the govt would know be able to prevent all crime.

We shouldn't just have a normal RFID chip we should have one that can send an electronic shock across the brain disabling you immediately if the police need to arrest you. Just think of the crowd management potential? No more protests, no more hooliganism etc...

If fact I bet you where fighting the other night at the West Ham match weren't you? :P

RFID is wealth.

course, the VI went on with another advantage...soldiers in the field would be able to ID the enemy or friends....

what he failed to say was that someone would have to decide which tags were red and which were blue...imagine that here...they change your tag to "undesirable"....youd be walking on eggshells all your life...you know, you upset some rude bitch at the council so they just switch you to bad....no appeal...just instant mark as a bad person.

I had my money on the bald guys at west ham...the ones without the barcoded heads.

Edited by Bloo Loo

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RFID is wealth.

Well, I was just looking in the window of an Estate Agent in Stevenage yesterday - I was interested to see what society thought I deserved as a house, given my salary (~35k, Engineering, PhD). Bear in mind this was Stevenage, not exactly the most salubrious part of the world.

Anyway, my eyes alighted upon this beauty (there are many more examples), assuming I could russle together £10k to cover deposit, parasite fees etc.

linky

So there it is: that is apparently what I deserve after earning a well-above average salary. The boomers have f**ked us over so completely.

But hey, never mind, house prices are going up....we are saved!! Hooray!! :blink:

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Well, I was just looking in the window of an Estate Agent in Stevenage yesterday - I was interested to see what society thought I deserved as a house, given my salary (~35k, Engineering, PhD). Bear in mind this was Stevenage, not exactly the most salubrious part of the world.

Anyway, my eyes alighted upon this beauty (there are many more examples), assuming I could russle together £10k to cover deposit, parasite fees etc.

linky

So there it is: that is apparently what I deserve after earning a well-above average salary. The boomers have f**ked us over so completely.

But hey, never mind, house prices are going up....we are saved!! Hooray!! :blink:

120k over 25 years repayment @ 6% will cost you £782 per month.

you could clearly afford that....out of your 2172 net wage...thats how they do it now...affordability. course if rates double the mortgage would rise to 1274 and your job would probably disappear....but thats a risk.

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Well, I was just looking in the window of an Estate Agent in Stevenage yesterday - I was interested to see what society thought I deserved as a house, given my salary (~35k, Engineering, PhD). Bear in mind this was Stevenage, not exactly the most salubrious part of the world.

Anyway, my eyes alighted upon this beauty (there are many more examples), assuming I could russle together £10k to cover deposit, parasite fees etc.

linky

So there it is: that is apparently what I deserve after earning a well-above average salary. The boomers have f**ked us over so completely.

But hey, never mind, house prices are going up....we are saved!! Hooray!! :blink:

Better buy now then, before you miss out.

Once you`re on the ladder, the only way is up.

If you want a better home, get a better job.

Simples.

Oooh, I think I just had a "Hamish" moment. I kind of miss him, I think.

Seriously, the property that you point out is probably a typical FTB`er place, both today, and in the past. The real difference is your qualification/occupation and salary. It`s a ridiculous thought, I know, but I would think that place would be suitable for a postman, refuse collector, gardener, trainee doctor, window cleaner, electrician, you get the idea. All worthy jobs, all earning what I would call an average kind of salary (give or take), all should be able to buy a modest property, IMO. However, this is UK 2009, under G. Brown`s leadership, so a well qualified engineer might just be able to afford to buy it, or better still, a BTL landlord. That`s progress !

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120k over 25 years repayment @ 6% will cost you £782 per month.

you could clearly afford that....out of your 2172 net wage...thats how they do it now...affordability. course if rates double the mortgage would rise to 1274 and your job would probably disappear....but thats a risk.

That's because you don't have access to the complex computer programs that work this stuff out. If you did you'd realise how affordable that was.

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Well, I was just looking in the window of an Estate Agent in Stevenage yesterday - I was interested to see what society thought I deserved as a house, given my salary (~35k, Engineering, PhD). Bear in mind this was Stevenage, not exactly the most salubrious part of the world.

Anyway, my eyes alighted upon this beauty (there are many more examples), assuming I could russle together £10k to cover deposit, parasite fees etc.

linky

So there it is: that is apparently what I deserve after earning a well-above average salary. The boomers have f**ked us over so completely.

But hey, never mind, house prices are going up....we are saved!! Hooray!! :blink:

Shocking.

for my salary, similar to yours, I might be able to stretch to this, 2 miles off Newcastle.

http://www.rightmove.co.uk/property-for-sa...x%3D36%26y%3D19

Don't get too excited though. The area is chav-infested, with no infrastructures and no one would really want to live there.

http://www.rightmove.co.uk/property-for-sa...x%3D36%26y%3D19

still a shithole. In a slightly better location (I wouldn't still).

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This headline is a bit misleading. What the story is saying is spend on your credit rather than debit card and ensure you pay the bill off each month so you establish a credit history. As long as you pay the full bill each month buying on a credit card is sensible as you earn interest on the funds in your interest free period.

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Whatever the article is saying wasn't it ever thus? When I bought my first house I effectively put half the deposit down with my credit card, as I had no savings to speak of.

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