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Radio 5 Live: Ray Boulger On Mortgages

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Unbelieveable.. he actually recommended raiding your grandparents savings to scrape together your deposit.

Edited by exiges

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Unbelieveable.. he actually recommended raiding your grandparents savings to scrape together your deposit.

Yep. And they didn't flinch. It's acceptable now. Get on the 'ladder' at ALL costs. :blink:

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That was short lived. Not really a phone in. More of an advert for selling mortgages, it would seem.

Consumer activist Martin Lewis was advising people on how to improve their credit rating and mortgage application success chances. Being on the electoral register, not applying for a credit card 6 months before, the usual sh!t.

I can't remember what was said now but someone said something about putting down a fake telephone number on the mortgage application form. Martin said you shouldn't do that because it would be considered as fraud.

Fk me. Amazing what does and doesn't constitute as mortgage fraud nowadays isn't it.

Sadly they didn't get around to asking Boulger for his opinions on Self Certification. I was poised to phone in.

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I would not listen to anything Martin Lewis is involved in as in my opinion, having worked in industries which he dominates and watched him rewrite history by deleting old threads on his forums (Iceland saving accounts anyone), appear on GMTV shows which have "breached impartiality rules" (Ofcom) by plugging his own business which make him millions YES millions from recommending products and services via affiliate commission links. I now await someone from his online police force to come and get involved on this thread...

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Unbelieveable.. he actually recommended raiding your grandparents savings to scrape together your deposit.

He really is a poisonous, fat toad.....

cml toad.jpg

post-767-0-15451200-1290092638_thumb.jpg

Edited by eric pebble

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It amazes me that the main stream media use a man, who was a leading light in a company that went bust recently and had to be rescued, as some sort of a guru :rolleyes:.

I agree.

He seems to be popping up all over the place lately. :rolleyes:

Early this week he had a long slot on Five Live's "Wake up to Money".

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It amazes me that the main stream media use a man, who was a leading light in a company that went bust recently and had to be rescued, as some sort of a guru :rolleyes:.

Its been bust more than once old chap

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Just started listening.

What the **** is a "soft footprint".

tim

Part of your credit score is determined by the amount of credit searches you have recently done (usually in a 6 month period)The more searches you have the lower your score. If you are shopping about for anything that you need a credit search for, you can wreck your own credit score by trying to get the best deal.

A soft footprint is a credit search that allows the lender checking you to see all your credit info but the search itself does not show as a search to another lender.If you go ahead with the application then the search will show on your credit file.

Reason for editing . . . plonker :huh:

Edited by fixed

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Just saw him on the beeb. I'm not entirely convinced he's alive however, as only his mouth moved, Python-like. Maybe the credit crunch did for the chap and he's since been embalmed. Now they wheel him out, skull stuffed full of servos, to flog more debt to the unwary. Think of Boulger as the mortgage industry's very own Steve Austin: the £1.5 trn mortgage debt man. I wonder if he makes those wierd noises, like a metallic, staccato, didgery-doo every time he moves?

Edited by Sledgehead

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Part of your credit score is determined by the amount of credit searches you have recently done (usually in a 6 month period)The more searches you have the lower your score. If you are shopping about for anything that you need a credit search for, you can wreck your own credit score by trying to get the best deal.

A soft footprint is a credit search that allows the lender checking you to see all your credit info but the search itself does not show as a search to another lender.If you go ahead with the application then the search will show on your credit file.

Reason for editing . . . plonker :huh:

Thanks

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I remember the Icesave thread, It was a mixture of the luvvies offering {{{{{{{{{{HUGS}}}}}}}}}}} for those that had at the time potentially lost money whilst on the other hand a few of the HPC'ers had their sock puppets deriding the fools for having put it in Iceland in the first place. To good to be true then it usually is sort of stuff at the kinder end down to fecking idiot at the less kinder.

I can recall Lewis pushed the deals quite strongly and even a few of the luvvies were deriding him for selling them a lemon.

Understandable why he deleted it, clearly it doesn't portray his money saving nous in too good a light.

If he did? Sure it is not buried in the depths of his forums?

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Sure it is not buried in the depths of his forums?

Courtesy of Google...

Icesave - Martin Lewis Should Resign!

http://forums.moneysavingexpert.com/showthread.php?t=1205877

Icesave/Kaupthing - is Martin to blame?

http://forums.moneysavingexpert.com/showthread.php?t=1204305

Icesave: Can't get money out.

http://forums.moneysavingexpert.com/showthread.php?t=1194821

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He speaks very highly of you Eric! tongue.gif

B) I can't think of anything that would give me more pleasure than driving along a road - and catching this fat toad in the headlights..... Wham! Down goes the accelerator pedal - and S P L A T -- Squashed the poisonous little fat sh*t FLAT. DEAD. ;)

Edited by eric pebble

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B) I can't think of anything that would give me more pleasure than driving along a road - and catching this fat toad in the headlights..... Wham! Down goes the accelerator pedal - and S P L A T -- Squashed the poisonous little fat sh*t FLAT. DEAD. ;)

Why don't you get off the fence and tell us how you really feel?

:D

Edited by Sledgehead

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BOGAG? (bank of gran and grampa?)

I saw it make rotation on BBC News yesterday, he looked as desperate making that suggestion as it sounds to us, sitting listenting to it. In essence, BOGAG are getting raped on bank savings rate at the moment, so the not-so-young-uns are to borrow from BOGAG and offer an improved rate of interest for the use of that facility. It's mind boggling really, completely negating that the borrowers are now immediately servicing a loan - which I guess could really be quite punitive as it would only make sense if the repayment was over a shorter period of time. At which point does it become stupid?

£30K over 36 months, £833 per month

£30K over 48 months, £625 per month

£30K over 60 months, £500 per month....and on and on. I mean the premise is they get the money back right? It's not that you borrow it and then they hopefully die fairly soon afterwards - or is it?

So new mortagage holder, who by definition has been unable to save a pot to piss in so far in their life, borrows £30K to fund say a £180K purchase, and are immediately saddled with mortage payment on £150K and anywhere between £250-£1000 per month extra to pay the BOGAG back in cruise tokens :lol::lol::lol: - sorry I am on the floor now.

The equivalent is to borrow your deposit from the bank, to fund your LTV deposit for a mortage in a different bank. The second bank would rightly say (in these times) bog off.

Let the prices correct, it's the ONLY way the fat toad cml members can continue to cream their percentage on mortgage deals. When you are up to the grandparents with the begging bowl, the cml really need to realise that there really is no money left. There is no more spare cash about to soften the 25% correction for the lenders. The games up, haircut time.

Edited by hirop

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  • 142 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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