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The Preacherman

Mse - Bad Credit History & Trying To Get Mortgage

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From MSE 3 examples of simpletons thinking that should be entitled to a mortgage when they have a bad credit history.

http://forums.moneysavingexpert.com/showthread.php?t=2516015

http://forums.moneysavingexpert.com/showthread.php?t=2516941

http://forums.moneysavingexpert.com/showthread.php?t=2520275

Daft thing is that 3 years ago they'd have had the banks throwing money at them.

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From MSE 3 examples of simpletons thinking that should be entitled to a mortgage when they have a bad credit history.

http://forums.moneysavingexpert.com/showthread.php?t=2516015

http://forums.moneysavingexpert.com/showthread.php?t=2516941

http://forums.moneysavingexpert.com/showthread.php?t=2520275

Daft thing is that 3 years ago they'd have had the banks throwing money at them.

In fairness, the latter two aren't total basket cases however the first is a classic; amass lots of bad debts, change name by deed-poll, avoid repaying for six years and then look to borrow over 500k under his new name (self-cert natch).

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In fairness, the latter two aren't total basket cases however the first is a classic; amass lots of bad debts, change name by deed-poll, avoid repaying for six years and then look to borrow over 500k under his new name (self-cert natch).

I would say they are all from the same poster.

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I think number 1 has got a bit lost

when he was 18 six years ago ....................

Then up to five years ago when people stopped lending him ...........So in 1 year he racked up 60k of debt.....

So he did nothing for the last five years from 19 - 24

Don't seem right somehow .........May be he is not very good with ages , years , his name ect...

However I don't see why they won't lend him the money ????

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I think number 1 has got a bit lost

when he was 18 six years ago ....................

Then up to five years ago when people stopped lending him ...........So in 1 year he racked up 60k of debt.....

So he did nothing for the last five years from 19 - 24

Don't seem right somehow .........May be he is not very good with ages , years , his name ect...

However I don't see why they won't lend him the money ????

The problem is this. If the banks dont lend money to people like this, then they only have a very small pool of people to lend too. The majority of people are like these posters. Its tragic.

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The problem is this. If the banks dont lend money to people like this, then they only have a very small pool of people to lend too. The majority of people are like these posters. Its tragic.

Yes they have managed to destroy their customer base. There is no one left with a decent credit score, as they were loaned too much money!

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people like this should never be lent money again. Fck em it's their own greed that got them into the mess. Now they will have to save up if they want to buy anything.

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The problem is this. If the banks dont lend money to people like this, then they only have a very small pool of people to lend too. The majority of people are like these posters. Its tragic.

nonsense...45,000 approvals every month???

half the boomtime norm?

I think what you are saying is that we have too many lenders. course we have...the profligate were bailed and still exist...we have too many.

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One thing I find interesting is that in Asia, after financial crisis, they raised the deposit needed for buying properties, in UK, we

think the return of 100% and subprime mortgages are suppose to be a good thing !

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Yes they have managed to destroy their customer base. There is no one left with a decent credit score, as they were loaned too much money!

Well, there's all the people who never borrowed huge sums of money (and consequently don't have a credit score at all - oh, hang on...)

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Well, there's all the people who never borrowed huge sums of money (and consequently don't have a credit score at all - oh, hang on...)

My thoughts exactly anyone who's got a decent credit score has that good score because they borrow money sensibly.

The banks seem to have no customers now that the profligate can't get loans.

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From MSE 3 examples of simpletons thinking that should be entitled to a mortgage when they have a bad credit history.

c.f here, where simpletons think they're entitled to a house.

Edited by twatmangle

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From MSE 3 examples of simpletons thinking that should be entitled to a mortgage when they have a bad credit history.

http://forums.moneysavingexpert.com/showthread.php?t=2516015

http://forums.moneysavingexpert.com/showthread.php?t=2516941

http://forums.moneysavingexpert.com/showthread.php?t=2520275

Daft thing is that 3 years ago they'd have had the banks throwing money at them.

What staggers me is the unreality of it all. The first poster is 24(?), has a history of debt and is looking to buy a house priced at £645K on a substantial multiple of his income!!! What planet are these people on?

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It’d be interesting to see what the makeup of mortgage applications is at moment. It must be a bit shocking when most of those who are applying are like these posters on MSE. Most people with a bit of common sense would certainly want to delay or put off moving at the mo. They might not want to say that but in reality they fear buying at the top of the curve in case the house prices drop again.

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The ones that want it, they don't want to lend to...for obvious reasons.

The ones that don't want it, they want to lend to...for obvious reasons. ;)

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  • 140 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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