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eurows

Would You Get A Mortgage If You Were £58,000 In Debt

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Have you seen the list of monthly outgoings (even before you get to the list of creditors)? ... that's ridiculous! £350 on shopping (I assume this means food?) for two adults and three small children!?! Try a regular supermarket rather than an M&S Express, get rid of the Sky TV, stop pinning your financial hopes on winning the lottery and giving money to charity when you're applying to a debt charity yourself ... come on!!! :blink:

I'm still never ceased to be amazed by the signatures of all these people on the MSE site ... i.e. Current Debt = £10,000 - Debt Free Day = 10 March 2015 ... as if it's a game of Top Trumps or something!!! I know I shouldn't be surprised, but everyday I find one even worse than the rest. Perhaps we should start doing this ourselves?

Me:

Debt = £0

Debt Free Day = Now

Shares in Debt Companies = Value increasing daily!!!

Rant over!!!

Edited by TwentyOneEleven

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Clearly if you are in the red to the tune of £58K you don't have the discipline to commit to paying a debt for 25 years+, especially as someone this sub-prime (sounds like mouldy cattle!) would be paying nosebleed interest rates.

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and now shes moaning.

How did she do it and why. This I am afraid is the penalty many will pay for buying a house at any cost.

http://forums.moneysavingexpert.com/showthread.html?t=211647

One wonders how she managed to - it's a hefty mortgage by the look of it for someone with that much debt (might be subprime of course, so could be at less than preferential rates).

Perhaps someone has been less than honest with the mortgage company? I believe some of the more pernickity members of the judiciary call that fraud...

Or perhaps the mortgage company are just plain dumb?

I do like the fact that they are so stupid they didn't even realise they hadn't paid their council tax. With financial acumen like that they deserve to be repossessed.

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and now shes moaning.

How did she do it and why. This I am afraid is the penalty many will pay for buying a house at any cost.

http://forums.moneysavingexpert.com/showthread.html?t=211647

As is usual with MSE and ignoring the odd deserving case, it's an exercise in living far beyond your means for a long while - she owes lots to CC companies and the Bank of Mum and she's not been paying even her utilities properly for a long time now. I guess she'll say it's all essential and outside of her control to sign up to nearly £60K of unsecured debt, but do you believe her ?

The house has nothing to do with her debt problem (though he outgoing is conveniently called mortgage/rent - presumably it's part owned or they have two places) - they earn equivalent to £50K a year and have a £135Kish mortgage (assuming sensible rates etc.) - totally inside of most people's affordability if they were not chucking money away.

Yet more people with an ostrich mentality that I will probably end up subsidising..... - someone needs to cut off her credit lines as a lot of her debt is still on a 0% overdraft - yeah right...... - when that kicks in with interest she's screwed.

What is wrong with people - why can't they just live within their means ? If they can't (and ignoring house prices), earn more or spend less...

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she comes back with a quality line for someone is £60k of debt...

Im gathering stuff for Ebay

then

Ive cancelled the sky..with next months subscription ill ebay for a freeview box...

TRY PAYING OFF YOUR DEBT FIRST lol.....

she comes back with a quality line for someone is £60k of debt...

Im gathering stuff for Ebay

then

Ive cancelled the sky..with next months subscription ill ebay for a freeview box...

TRY PAYING OFF YOUR DEBT FIRST lol.....

i missed this quality quote too

Other insurances are to do with mortgage, and one pet insurance for a horse I have loaned out.

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£350 on shopping (I assume this means food?) for two adults and three small children!?! Rant over!!!

We spend £600+ and have 2 kids, I dont know how she does it!

We do not buy convienence food, fizzy drinks and hardly any cakes and biscuits, just fresh and if possible organic.

Time you add in the batteries, shoe polish, shampoo, clingfilm, medications / vitamins and sun cream £600 vanishes.

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Am I being a bit naive here, or is that f*****g unbelievable, how the hell does someone get that much into debt!? Is this the norm? :blink:

I can see how her monthly outgoings would get on top of her, and there are definately cuts she could make there. But what did she spend the rest of that money on?

Laminate flooring, BMW's and Sugababes CD's..? :D

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We spend £600+ and have 2 kids, I dont know how she does it!

We do not buy convienence food, fizzy drinks and hardly any cakes and biscuits, just fresh and if possible organic.

Time you add in the batteries, shoe polish, shampoo, clingfilm, medications / vitamins and sun cream £600 vanishes.

I spend £350pm on food for myself (not sure how much is greediness and how much london prices).

Am I being a bit naive here, or is that f*****g unbelievable, how the hell does someone get that much into debt!? Is this the norm? :blink:

I can see how her monthly outgoings would get on top of her, and there are definately cuts she could make there. But what did she spend the rest of that money on?

Laminate flooring, BMW's and Sugababes CD's..? :D

lottery tickets, sky tv and holidays from the sounds of it.

looks normal. look at all the other sigs in there. irresponsible borrowers and lenders.

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and now shes moaning.

How did she do it and why. This I am afraid is the penalty many will pay for buying a house at any cost.

http://forums.moneysavingexpert.com/showthread.html?t=211647

I dont get this.

How did she get a mortgage whilst having £50,000 worth of debt?! There must have been a few pork pies flying around there, surely? :huh:

When I applied for a mortgage a few years ago I was asked about all the details about my income and outgoings (including loans) presumably there is a legal requirement for one to be honest about this?

I was on a reasonable salary (£18000~) with only a single student loan owed (£35/month repayment) and they would still lend me naff all (and all with a perfect credit rating) the same day the woman I spoke to in the building society said that she thought that prices in Edinburgh were crazy and she thought it was all going to crash back then (in agreement with the concerns I had and expressed to her( she said it was reminicent of the early 90's when she was working in England - shame she was wrong really.... still there is time.

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Thats pretty worrying really, It's all very well getting yourself into debt if your single/couple, but if you've got kids to think about too... ;)

I was always taught that if I wanted something, I'd have to save for it. Obviously houses are a different kettle of fish altogether, but you get what I mean. I only got my first credit card 6 months ago, managed to avoid them up until now, but realised the how cheaper you can get goods from the US, so don't spend out so much.

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TWO QUID ON CHARITY!!!!

Selfish b1tch.

Actually, given all her problems, I thought it was quite nice of her to be mindful of others in a worse state. Along with donations from lottery she is giving quite a lot from very little. I'm guessing she gives a lot more than most people on this forum!

"Jesus sat down opposite the place where the offerings were put and watched the crowd putting their money into the temple treasury. Many rich people threw in large amounts. But a poor widow came and put in two very small copper coins,[j]worth only a fraction of a penny.[k]

Calling his disciples to him, Jesus said, "I tell you the truth, this poor widow has put more into the treasury than all the others. 44They all gave out of their wealth; but she, out of her poverty, put in everything—all she had to live on."

Mark 12:41-42

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I'm guessing she gives a lot more than most people on this forum!

It's easy to be charitable with other people's money.

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Yes and no. Yes she is "in a bad place right now", and my post was a bit tongue in cheek. But also no, as she takes approx 50K a year, the daft mare. Talking of which, can't the horse go to the glue/polo factory?

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"Jesus sat down opposite the place where the offerings were put and watched the crowd putting their money into the temple treasury. Many rich people threw in large amounts. But a poor widow came and put in two very small copper coins,[j]worth only a fraction of a penny.[k]

Calling his disciples to him, Jesus said, "I tell you the truth, this poor widow has put more into the treasury than all the others. 44They all gave out of their wealth; but she, out of her poverty, put in everything—all she had to live on."

yeh. And Jesus said come forth...but he came fifth and lost

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Matthew 25:14 For it is just like a chancellor about to go on a journey, who called his own consumers and entrusted his economy to them. 15 To one he gave five K, to another, two, and to another, one, each according to his own ability; and he went on his journey. 16 Immediately the one who had received the five K went and traded on the stockmarket with them, and gained five more K. 17 In the same manner the one who had received the two K gained two more (on debt shares). 18 But he who received the one K went away, and spent all the money on cheap tat like sky. 19 Now after a long time the chancellor of those conaumers came and settled accounts with them. 20 The one who had received the five K came up and brought five more K, saying, "Gordon, you entrusted five K to me. See, I have gained five more K, through shorting building company shares.' 21 His chancellor said to him, "Well done, good and faithful consumer. You were faithful with a few things, I will put you in charge of many things; enter into the joy of your chancellor.' 22 Also the one who had received the two K came up and said, "Chancellor, you entrusted two K to me. See, I have gained two more K.' 23 His chancellor said to him, "Well done, good and faithful consumer. You were faithful with a few things, I will put you in charge of many things; enter into the joy of your chancellor.' 24 And the one also who had received the one K came up and said, "Chancellor, I knew you to be a hard man, reaping where you did not sow and gathering where you scattered no seed. 25 "And I was afraid, and went away and spent your 1K down the shopping complex. See this Burberry, you have what is yours.' 26 But his chancellor answered and said to him, "You wicked, lazy consumer, you knew that I reap where I did not sow and gather where I scattered no seed. 27 "Then you ought to have put my money in ING, and on my arrival I would have received my money back with interest. 28 "Therefore take away the K from him, and give it to the one who has the ten K.' 29 For to everyone who has, more shall be given, and he will have an abundance; but from the one who does not have, even what he does have shall be taken away. 30 Throw out the worthless consumer into the outer darkness; in that place there will be weeping and gnashing of teeth AND NO EFFING SKY EITHER!!!!.

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My friend's sister has had 3 houses repossesed and has been made bankrupt. She's just got another mortgage.

The bit about giving to charity - charity has to start at home and if you are skint you shouldn't be giving to charity.

If people feel so strongly they should give up a few hours of their week to volunteer and help make a real difference.

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The bit about giving to charity - charity has to start at home and if you are skint you shouldn't be giving to charity.

If people feel so strongly they should give up a few hours of their week to volunteer and help make a real difference.

23And Jesus said unto them: 24"It is probably better not to go out on a limb to look out for other people, I mean, I wouldn't want to you take up a cross and follow me. 25Let the buggers in Africa starve"

No only joking. Voluntary work is the way to go in this case. And once she's paid off her debts THEN she can tithe.

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Matthew 25:14 For it is just like a chancellor about to go on a journey, who called his own consumers and entrusted his economy to them. 15 To one he gave five K, to another, two, and to another, one, each according to his own ability; and he went on his journey. 16 Immediately the one who had received the five K went and traded on the stockmarket with them, and gained five more K. 17 In the same manner the one who had received the two K gained two more (on debt shares). 18 But he who received the one K went away, and spent all the money on cheap tat like sky. 19 Now after a long time the chancellor of those conaumers came and settled accounts with them. 20 The one who had received the five K came up and brought five more K, saying, "Gordon, you entrusted five K to me. See, I have gained five more K, through shorting building company shares.' 21 His chancellor said to him, "Well done, good and faithful consumer. You were faithful with a few things, I will put you in charge of many things; enter into the joy of your chancellor.' 22 Also the one who had received the two K came up and said, "Chancellor, you entrusted two K to me. See, I have gained two more K.' 23 His chancellor said to him, "Well done, good and faithful consumer. You were faithful with a few things, I will put you in charge of many things; enter into the joy of your chancellor.' 24 And the one also who had received the one K came up and said, "Chancellor, I knew you to be a hard man, reaping where you did not sow and gathering where you scattered no seed. 25 "And I was afraid, and went away and spent your 1K down the shopping complex. See this Burberry, you have what is yours.' 26 But his chancellor answered and said to him, "You wicked, lazy consumer, you knew that I reap where I did not sow and gather where I scattered no seed. 27 "Then you ought to have put my money in ING, and on my arrival I would have received my money back with interest. 28 "Therefore take away the K from him, and give it to the one who has the ten K.' 29 For to everyone who has, more shall be given, and he will have an abundance; but from the one who does not have, even what he does have shall be taken away. 30 Throw out the worthless consumer into the outer darkness; in that place there will be weeping and gnashing of teeth AND NO EFFING SKY EITHER!!!!.

Excellent!!!!

No one Needith Sky when Footy is on the Beeb!!!

TB

My friend's sister has had 3 houses repossesed and has been made bankrupt. She's just got another mortgage.

The bit about giving to charity - charity has to start at home and if you are skint you shouldn't be giving to charity.

If people feel so strongly they should give up a few hours of their week to volunteer and help make a real difference.

Feel a tight wad but this is true - Charity begins at home.

Give the money when you can afford it - By stopping this payment the Charity is being charitable to you? If that's a problem then they are not very charitable, are they?

Have to say this though, it really does annoy me that loads of charities have money and when there is a natural disaster you don't seem to hear about them donating help do you? Sorry but its the cynic in me :(

TB

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£2 a month to charity! Argghh!!!

Having worked for a charity for a few months some years back I know that out of this £2 about 20p will actually make it through- around £1.80 will be used up on admin costs.

Completely pointless exercise to give £2. Go volunteer in the Cancer Research UK shop instead.

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Have to say this though, it really does annoy me that loads of charities have money and when there is a natural disaster you don't seem to hear about them donating help do you? Sorry but its the cynic in me :(

TB

Sadly money raised for that tsunami can only be spent on recovery from that event. The earthquake in the same country was claimed by one source to be an aftershock of that I think so perhaps they could free up the aid.

Charities AFAIUI have to spend the money they earn ASAP and can only keep 3 months running costs in the bank, everything else has to be spent.

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  • 337 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% +
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      • Even
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      • up 5%



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