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Our Obsession With House Prices Starts With Companies

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Having recently started another company. I was surprised by the amount of times I was asked if I own my own house. Most companies will put a negative mark against your attempt to open things based on owning or renting.

BT - For business phones viewed me renting rather than owning as a negative.

LloydsTSB - Viewed as negative in opening a business account

Orange - Viewed as negative in mobile contract.

I still managed to get everything opened but had the decision been tighter it may have been the difference between starting a new company is dependant on owning my home. Money in the bank doesnt count. Apart from with Lloyds as I am already a Lloyds customer.

Obsession with owning your home is everywhere. It seems better to own your own home and be behind with the payments rather than rent.

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Having recently started another company. I was surprised by the amount of times I was asked if I own my own house. Most companies will put a negative mark against your attempt to open things based on owning or renting.

BT - For business phones viewed me renting rather than owning as a negative.

LloydsTSB - Viewed as negative in opening a business account

Orange - Viewed as negative in mobile contract.

I still managed to get everything opened but had the decision been tighter it may have been the difference between starting a new company is dependant on owning my home. Money in the bank doesnt count. Apart from with Lloyds as I am already a Lloyds customer.

Obsession with owning your home is everywhere. It seems better to own your own home and be behind with the payments rather than rent.

Started another company? Why what's wrong with the old one?

If you want to borrow money then I'm sure they see your assets as, well assets.

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Thats because house owners are more likely to pay their bills on time :) its just a fact.

and as the global credit tightening wave smashes on our shores, this may well reverse.

In a couple of years time, it could well be viewed more favourably NOT being a home owner. More likely to pay your bills on time as you are not saddled with huge credit servicing costs on a depreciating asset.

:ph34r:

Edited by BubbleTurbo

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Having recently started another company. I was surprised by the amount of times I was asked if I own my own house. Most companies will put a negative mark against your attempt to open things based on owning or renting.

BT - For business phones viewed me renting rather than owning as a negative.

LloydsTSB - Viewed as negative in opening a business account

Orange - Viewed as negative in mobile contract.

I still managed to get everything opened but had the decision been tighter it may have been the difference between starting a new company is dependant on owning my home. Money in the bank doesnt count. Apart from with Lloyds as I am already a Lloyds customer.

Obsession with owning your home is everywhere. It seems better to own your own home and be behind with the payments rather than rent.

If you go belly up, they know your house will cover your mistakes.

Not if you have one of those negative equity insurance policies we were talking about yesterday though!

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Started another company? Why what's wrong with the old one?

If you want to borrow money then I'm sure they see your assets as, well assets.

There is nothing wrong with the old one. I am involved in the hen industry and have started another company involved in other farming interests.

It just seems sensible to limit my involvement with the hen side incase anything happens.

I just get cheesed off with being rated as sub human because I don't own my own home.

If you want to borrow money then I'm sure they see your assets as, well assets.

I don't want to borrow money. So why should ownership of my home come into it. I understand that a renter can do a runner faster than TTRTR can post.

Thats because house owners are more likely to pay their bills on time its just a fact.

Is that true. Are you sure that isn't because of council tenants. Well were a site of renters, own up if you don't pay your bills.

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When I opened my business account NatWest would only give a "Solo" card not a switch card on the account initially, not specifically because we were renting, but because we had moved a few times in the last couple of years which counts against you from a credit scoring perspective.

Later, with 2 years trading history, Lloyds had no hesitation in giving a proper Visa debit card and a Platinum personal account though we were still renting.

The biggest farce of it was the merchant account; customers using debit and credit cards can have the card company 'charge back' transactions (like stopping a cheque, but after the event, so the money is taken back from the retailer) and more than one Merchant account provider wanted to know if I owned my own home to secure the possibility of charge backs against.

So, in order to just take debit cards (we only take debit cards because the commission on credit cards is so high) two companies wanted a charge on property. Even if I were a homeowner it wouldn't be something I'd even consider and we'd just have gone without taking cards, however other companies weren't so bothered. It seemed more like a cheeky "let's see if we can get the charge and if he's gullible enough to let us to let us have it" rather than a requirement.

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  • 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%



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