Is this what they call a gifted deposit?

nearlynew

Greedy, stupid idiots like this are part of the problem.

Their demise through bankrupcy is part of the solution.

The whole lot of them should be hung out to dry.

carolt

I was advised by a mortgage broker to lie on a self-cert form.

I didn't.

It seemed so easy...but you know that when you fill in a box with a figure, it's either true or it isnt. You don't have to be a genius or even very bright at all, to figure that out.

He got what he deserved.

Max_Headroom_3

Pobby wrote: »

There is a development near the waterside where I live. It was where the ladies of the night would ply their trade!

They look horrible! I remember someone coming on here a while ago seeking advice as to buy or not.

Never ever buy a "lady of the night". Just rent, that's the whole point!

Pobby

Hahaha. Just read my own post. Anyway, so if the cost of the place was over 300k how much would the rent have to be even to cover a IO mortgage?

MrDT

moneyweek wrote:

When he applied for the mortgage, Philip failed to disclose the discount. Instead he applied for the maximum mortgage of 90% of the higher £356,976 value.
This meant that in March 2007 the bank lent £321,200, which was 100% of the price Philip actually paid. Today the property might fetch only £200,000, say local estate agents

Isn't this exactly what johnny five-screens the BTL guy was advocating about 3 months back? His name has gone clean out of my head, but brit1234 had a particular fondness for him.

I'm sure the name of the game was "no money down" through this kind of mortgage fraud.

The buyers are mugs, the facilitators (inside track, jaws and right source in this case, johnny five screens, etc) are the evil 'geniuses' relieving the intellectually stunted of their cash. Except it doesn't take being a genius does it? Candy from a baby, cash from greedy mugs...

Pobby

As Carol says, I just wonder how many people have done this?

Yakubu22

£350k for an appartment in Manchester. What was he thinking?

Arcaine

Yakubu22 wrote: »

£350k for an appartment in Manchester. What was he thinking?

Greed is Good!!!!!!!!!

Cleaver

Yakubu22 wrote: »

£350k for an appartment in Manchester. What was he thinking?

You can buy one in the same block for £1.6 million if it takes your fancy (rightmove link).

I'd personally want more than 2 bedrooms for £1.6 million. And I'd prefer the location to be slightly more westerly. Say, in Manhattan, for example.

Yakubu22

Cleaver wrote: »

You can buy one in the same block for £1.6 million if it takes your fancy (rightmove link).

I'd personally want more than 2 bedrooms for £1.6 million. And I'd prefer the location to be slightly more westerly. Say, in Manhattan, for example.

HAHA thanks for the link.
Seems the developer must have a good sense of humour (£1.6M?!?!?)... Do they honestly think by putting lots of marble stuff in an apartment and then putting some modern looking furniture on a terrace. That it becomes worth £1.6M?

For that money I can buy a large country manner in Cheshire with good transport links to Manc. city centre and still have £100ks to [STRIKE]blow [/STRIKE] invest on [STRIKE]birds [/STRIKE] the wife and [STRIKE]booze[/STRIKE] savings.