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beccles

Fao Eric Pebble

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Thought of you when I was advised to visit this website.

http://www.noproofofincome.com/

Sorry if its been posted before.

:rolleyes: Thanks Beccles.

I don't delude myself that the whole LIAR LOAN scam is over....

It is very much still alive, and the CML [Council of Mortgage Lenders Liars] are doing everything they can to make it totally mainstream and normal again.... :rolleyes:

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Please tell me that's illegal. Counterfeiting/fraud/?.

Yes, it is obtaining a pecuniary advantage by deception. I understand that Lenders can now check with HMRC as to the validity of any document produced as proof of earnings. What action taken if documents are found to be false is up to the Lender to report the offence for possible criminal proceedings to be instigated, but they never seemed to bother in the past. :rolleyes:

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Yes, it is obtaining a pecuniary advantage by deception. I understand that Lenders can now check with HMRC as to the validity of any document produced as proof of earnings. What action taken if documents are found to be false is up to the Lender to report the offence for possible criminal proceedings to be instigated, but they never seemed to bother in the past. :rolleyes:

Beyond belief... :rolleyes:

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Crazy.

Years ago, I worked for a sub prime lender (yes, Gordon, there was/is sub prime in the UK). I found the checks we had to do for affordability were actually quite stringent - payslips/bank statements reviewed/job checks/personal refs/ and most importantly something called a 'capacity check' which looked at the household income/expenditure in full detail to ensure the applicant could actually afford the repayments with enough extra capacity incase of any hidden costs which crop up from time to time.

You see, these applicants had adverse credit history, so it was wise to carry out these checks and spend a good half hour explaining the consequences of non-payment.

Occaisionally, we'd get people applying for finance with clearly falsified records - doctored bank statements/payslips etc and when this happened we had to apply to get a CIFAS warning registered against them (Credit Industry Fraud Avoidance System) to warn other lenders that the applicant was attempting to defraud.

The thing is, we carried out this level of checking for 1 year £500 unsecured personal loans ,not 25 year mortgages for hundreds of thousands of pounds.

I don't understand why banks have failed so badly to;

1) carry out proper capacity checks

2) allow enough of a buffer in disposable income to protect against loss of income/interest rate rises

3) check that applicants incomes were what they said they were

Banks = greedy

Goverment = failed to regulate

People = greedy/stupid/caught in the mania

Me = renting.

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I don't understand why banks have failed so badly to;

1) carry out proper capacity checks

2) allow enough of a buffer in disposable income to protect against loss of income/interest rate rises

3) check that applicants incomes were what they said they were

Banks = greedy

Goverment = failed to regulate

People = greedy/stupid/caught in the mania

Me = renting.

Banks, Higher house prices = larger mortgages = more mortgage interest

Government, more stamp duty, 2 incomes to pay larger mortgage so 2 lots of tax

People, brainwashed by VI's in media into believing debt is wealth cannot see that the profit goes to banks

Me, now paying more taxes to pay SMI, less interest income to pay banker's bonuses

I emailed the FSA in November about this firm

http://www.wall2wallfinance.co.uk/unusual_requirements.html

Note their "we can arrange loans without confirmation of earnings"

FSA replied:

"The FSA has launched a

Mortgage Market Review (MMR). This review is examining all of the products

currently on the market and we are in discussions with firms, consumers

and trade bodies. However, a decision regarding the outcome of the review

has not yet been made. I enclose a link to a document which discusses this

in more detail:

Therefore as the review is still ongoing, firms can still offer various

products until a decision made by the FSA has been implemented."

Review results now put back another year - anything goes at least until then

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Banks, Higher house prices = larger mortgages = more mortgage interest

Government, more stamp duty, 2 incomes to pay larger mortgage so 2 lots of tax

People, brainwashed by VI's in media into believing debt is wealth cannot see that the profit goes to banks

Me, now paying more taxes to pay SMI, less interest income to pay banker's bonuses

I emailed the FSA in November about this firm

http://www.wall2wallfinance.co.uk/unusual_requirements.html

Note their "we can arrange loans without confirmation of earnings"

FSA replied:

"The FSA has launched a

Mortgage Market Review (MMR). This review is examining all of the products

currently on the market and we are in discussions with firms, consumers

and trade bodies. However, a decision regarding the outcome of the review

has not yet been made. I enclose a link to a document which discusses this

in more detail:

Therefore as the review is still ongoing, firms can still offer various

products until a decision made by the FSA has been implemented."

Review results now put back another year - anything goes at least until then

Question: This thread is from 2010; IT IS NOW NEARLY MARCH 2012:

HAS ANYTHING BEEN DONE??? HAS ANYTHING CHANGED????

:unsure::blink:

Edited by eric pebble

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Question: This thread is from 2010; IT IS NOW NEARLY MARCH 2012:

HAS ANYTHING BEEN DONE??? HAS ANYTHING CHANGED????

:unsure::blink:

web site still there.

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NOPROOFOFINCOME.COM SITE INFORMATION

IP: 193.108.80.111

IP Location: North Shields, United Kingdom

Website Status: active

Server Type: Apache/2.0.52 (CentOS)

Because the data protection act prevents your employer or the Inland Revenue from sharing your information with third parties we can't contact your employer. We produce your wage slip or P60 based on the amount you tell us. Our PAYE & tax calculations will be correct and you can include student loans, bonus payments or commissions. All you need to know is either your gross or take home wage amount and we will do the rest.

Amazing....should be easy to get a big loan, if only you can get some mug to give you a deposit. Local council perhaps?

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  • 309 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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