Lent too much?

Peelerfart

bumpoowee wrote: »

So what do you suggest? blame society? If people aren't castigated for being massively irresponsible where are we all going to end up? Of course Northern Rock have been incredibly stupid but they have been castigated too.

So you advocate castigation of the individual for taking up an offer from a "respected" borrower ?

Pobby

bumpoowee wrote: »

So what do you suggest? blame society? If people aren't castigated for being massively irresponsible where are we all going to end up? Of course Northern Rock have been incredibly stupid but they have been castigated too.

I talked about my 21 year old nephew borrowing far more than the OP on another board here. He is in the building game and is on about £20k a year, g/f on about £12k. The mortgage is for 40 years. I was informed that it wasn`t a bad idea. Hmmmmm. Pity the poor guy if he comes on here asking for advice if it all goes wrong.

opinions4u

Peelerfart wrote: »

So you advocate castigation of the individual for taking up an offer from a "respected" borrower ?

I responded strongly to the post not for the fact that he took the offer. That is his right.

It was the implication that he felt the debt should be written off because he didn't seem so keen on it anymore.

The OP has admitted to being young and niave and without doubt has made mistakes. Also his post was misleading, but come on as pobby has said - we all make mistakes !

You can only respond to what's posted though. He hasn't actually responded to some of my additional questions (or those from other posters), so while it is possible that I misinterpreted the tone of the post I think it's unlikely that I did.

Boozer

I think the OP may get some more advice if he answered some of the questions asked of him, i have done the same as him(but on a smaller scale, OK much smaller), with student loans, i was offered X amount, i did not need the money, but hey they are willing to give it to me so f*** yes, give it all to me, i wasted it on a car i did not need.

Has the OP blown all his on things he did not need, or upgrade the house with the cash?? or drank it like i did with what i had left after i bought the car???

bigheadxx

quote:
Originally Posted by Peelerfart
You know I've just reread this thread and we are,for the most part, coming over as very judgemental.

The OP has admitted to being young and niave and without doubt has made mistakes. Also his post was misleading, but come on as pobby has said - we all make mistakes !
________________________________________________________________

The best way to learn from your mistakes is to pay for them.

UTUBE

If anyone is lent money by Northern Rock or anyone else and it is done so in the best interest of the consumer then fine.

If a loan is arranged with the commission as the driving force and not the consumer requirements then that is not fair.

Being lent too much when it is not needed is hardly good practice

aj150281

Maybe my post was misleading an i apollogise for this. All i was wondering is that if something had bin done wrong and i was givin more money than i needed jus to make more money out of me than i feel that i am well within my right to question this as is anyone else.
To answer the question about the extra money i used all of it to do up my property e.g new floors throughout, new kitchen, new bathroom etc.
The one thing i didn't understand was if NR wanted to make up the difference to buy the property with a loan why not jus give me 12k which i asked for instead of 26k?

dmg24

Have you asked Northern Rock these questions? Surely as they made the decision, they are the best ones to answer?

What outcome do you want as a result of these queries?

bigheadxx

aj150281 wrote: »

Maybe my post was misleading an i apollogise for this. All i was wondering is that if something had bin done wrong and i was givin more money than i needed jus to make more money out of me than i feel that i am well within my right to question this as is anyone else.
To answer the question about the extra money i used all of it to do up my property e.g new floors throughout, new kitchen, new bathroom etc.
The one thing i didn't understand was if NR wanted to make up the difference to buy the property with a loan why not jus give me 12k which i asked for instead of 26k?

Its a 125% mortgage and the £26K is your reserve which you do not have to spend.

_Andy_

I don't believe they forced 26k on you.