Jump to content
House Price Crash Forum
Sign in to follow this  
88Crash

Don't Approve Of 'dodgy' Mortgages

Recommended Posts

Banks encourage people to lie

Maybe not at branch level, but certainly at board level

The guys that run these large companies tend to be pretty sharp and a high proportion of directors come from an accounts background

Does anyone honestly believe when they look at some of their lending portfolio’s, they say

“Gosh chaps, that was lucky, the average UK salary is 25K, but we have managed to attract a lot of borrowers that are on an average salary of 72K, must have been that wizzy TV campaign”

It is right is saying the banks don’t like loosing money, but they are not and have been making record profits

Basic mathematics – take on ‘dodgy lending’ – make an extra billion profit as a result write off 100 million

Yes, 100 million is a lot of money to lose, but 900 million is a hell of a lot more

You don’t need to be a highly paid banker to work that one out

On the subject of fraud, a few people on the forum has suggested this serious crime, deserves the full wrath of the law!

So if you think this and you suspect some BTL’r has committed this crime, go on and GRASS them

You can the SFO on 020 7239 7272 and tell the somebody taken on a 170K dodgy mortgage

You probably wouldn’t even get past the switchboard

Edited by 88Crash

Share this post


Link to post
Share on other sites

I was tempted to grass on the mortgage advisor that arranged a £500k mortgage for my hubs on two properties, we would have gone bust in 3 months if we hand't seen the light in time, but he has two kids to feed and an area manager breathing down his neck for better figures every month.

Share this post


Link to post
Share on other sites
I was tempted to grass on the mortgage advisor that arranged a £500k mortgage for my hubs on two properties, we would have gone bust in 3 months if we hand't seen the light in time, but he has two kids to feed and an area manager breathing down his neck for better figures every month.

Its no different than opticians - nothing wrong with your eyes, but they need to sell glasses to make targets. So guess what .....

Share this post


Link to post
Share on other sites

I was tempted to grass on the mortgage advisor that arranged a £500k mortgage for my hubs on two properties, we would have gone bust in 3 months if we hand't seen the light in time, but he has two kids to feed and an area manager breathing down his neck for better figures every month.

That’s my point, I guess

Your husband didn't go in to commit fraud, but the advisor suggested it to him

Does anybody think a mortgage advisor acts without the knowledge of the lenders???

Yes, they are independent, but they don’t lend you the money – the banks lend it to you via the advisor

But if there are some problems (as exposed on that BBC documentary a couple of years back) the big guys at the top can deny all knowledge because they are not responsible (although they are actually paying the advisors)

A similar parallel would be a mercenary soldier.

They are also ‘independent’, however the vast majority are paid by governments, who also employ regular soldiers

BTW – no offence meant to any professional mercenaries by comparing them to mortgage advisors!

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 301 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%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.