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  • FIRST POST
    BigC+WeeS
    Lendgo - bad credit mortgages - anyone know about them?
    • #1
    • 1st Oct 08, 10:37 PM
    Lendgo - bad credit mortgages - anyone know about them? 1st Oct 08 at 10:37 PM
    Just a question out of curiosity - I've seen this site advertising on Google... does anyone here know anything about them, as they seem to be claiming to be able to get even folk with poor credit ratings a good mortgage. Ther emuct be a catch somewhere surely if most people are struggling to get a good deal at the moment. Their website shows an example of a 200,000 mortgage "FROM" 789 a month. Now given my current NR deal is 168,000 at 5.49% fixed 5 years ago was costing 1059 a month - how on earth do they get those figures? Is it something llike a 40 or 50 year mortgage? Just doesn't seem possible to me
    Debt problems? It's never too late to get help - just ask the friendly folk on this forum!
Page 1
    • koexelek
    • By koexelek 1st Oct 08, 10:49 PM
    • 7,421 Posts
    • 15,610 Thanks
    koexelek
    • #2
    • 1st Oct 08, 10:49 PM
    • #2
    • 1st Oct 08, 10:49 PM
    Their website shows an example of a 200,000 mortgage "FROM" 789 a month.
    Originally posted by BigC+WeeS
    that works out at 4.73%.

    If they can do that for people with credit problems, I dread to think what they can offer a squeaky clean client :rolleyes:
    I am a Mortgage adviser
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • SouthCoast
    • #3
    • 1st Oct 08, 10:51 PM
    • #3
    • 1st Oct 08, 10:51 PM
    If it looks too good to be true.............
  • Toughluck
    • #4
    • 2nd Oct 08, 2:43 PM
    • #4
    • 2nd Oct 08, 2:43 PM
    Its a pile of sh*t. It is a draw onto their enquiry line and you'll end up going to GE "crooks" Money.
    I am a Mortgage Adviser

    You should note that this site doesn't check my status as a mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Take advice with a pinch of sea salt!
  • BYALPHAINDIA
    • #5
    • 3rd Oct 08, 12:45 AM
    • #5
    • 3rd Oct 08, 12:45 AM
    I agree, You get 'nowt for nowt' in this world.

    There is a catch they will probably ask you to put a fair amount down for your deposit.

    I knew of one company who used to take (backhanders) of about 3,000 to get you a mortgage not a legitimate one but a mortgage.

    One broker had friends in different companies who would take a (backhander)

    And these were people at high st banks etc.

    So my answer is be careful, They may get you a mortgage but it would cost you money.

    Best Of Luck.
    • koexelek
    • By koexelek 3rd Oct 08, 8:06 AM
    • 7,421 Posts
    • 15,610 Thanks
    koexelek
    • #6
    • 3rd Oct 08, 8:06 AM
    • #6
    • 3rd Oct 08, 8:06 AM
    I agree, You get 'nowt for nowt' in this world.

    There is a catch they will probably ask you to put a fair amount down for your deposit.

    I knew of one company who used to take (backhanders) of about 3,000 to get you a mortgage not a legitimate one but a mortgage.

    One broker had friends in different companies who would take a (backhander)

    And these were people at high st banks etc.

    So my answer is be careful, They may get you a mortgage but it would cost you money.

    Best Of Luck.
    Originally posted by BYALPHAINDIA
    Yes, I know brokers involved in these murky areas too.
    The bit I could never get my head round is why a broker would risk prison for 3000 ?
    Broker I know went to jail for six months for mortgage fraud.
    He's now out again, doing exactly the same thing, but in someone elses' name
    I am a Mortgage adviser
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • BigC+WeeS
    • #7
    • 4th Oct 08, 12:29 PM
    • #7
    • 4th Oct 08, 12:29 PM
    Thanks for all your replies folks, I won't be touching with anyone else's bargepole, never mind my own!
    Debt problems? It's never too late to get help - just ask the friendly folk on this forum!
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