Sainsbury's refused me credit?! Why?

Wickedkitten

missk_ensington wrote:

Yeah but isn't the whole point of self-certification to give people who earn cash and don't declare it a way of getting a mortgage?? (Obviously I'm not suggesting thats the official reasoning, but its common knowledge that it's a get out clause for tradesman earning hundreds in cash to get a mortgage, cos the banks realised there was a whole market out there that hadn't been tapped into. They're now onto doing mortgages for Muslims who don't pay interest in a roundabout way, where actually they do pay interest but re-name it rent and its okay again)

Surely requesting accounts for a mortgage you have obtained in a certain way because you didn't have any accounts is to some degree a contradiction?? If people had accounts all along they wouldn't ever have needed a self-cert?!?!

Islamic mortgages are totally different because you don't pay interest, you pay more up front because it's against religious rules to pay or earn interest and they are a recognised form of mortgage like Green Mortgages


Self Certs are for people that are self employed or don't have regular income like people that do sales and earn commission. Obviously if you are earning commission then you would have payslips showing it, and obviously if you are self-employed (not just doing cash in hand jobs) then you would keep a record of your accounts, self certification mortgages were never intended for people that lie about their actual income to get a mortgage which is why its a criminal offense to lie on a mortgage application.

gingercordial

missk_ensington wrote:

Yeah but isn't the whole point of self-certification to give people who earn cash and don't declare it a way of getting a mortgage??

People who earn cash and don't declare it don't get a mortgage, they get a "friendly" visit from the tax man, then fines and possibly prison.

missk_ensington

From what I gather, Islamic mortgages are exactly the same only the 'bank' owns it until you've paid it off and you pay them 'rent'. It's the same principal as a mortgage with a different name tag, and surely its the principal that the religion disagree's with. Besides you arent seriously telling me the bank would do an Islamic mortgage if they weren't making something, and therein lies the religious problem- the banks making something.

I still don't get it- if a self-employed person had accounts why couldn't they get a regular mortgage at 4% instead of 5.54% like I'm paying?!?

Dont know why I'm arguing this, driving over the speed limit is a criminal offence but it doesn't stop anyone doing it. Its an arguement with no substance because so many people work cash in hand, or make their businesses show a loss for tax reasons. I know my Dads the expert, according to his accounts his pub cost £1500 in one month in entertaintment (more like £400) who did he have on bloody Il Divo? Think is thats a double endged sword when it comes to borrowing

missk_ensington

gingercordial- I wish, I've been phoning their tax evasion hotline since Xmas, as well as submitting 2 online forms and I can still see my ex doing his DJing as he's always done! Inland Revenue are too slow to catch a cold!

Wickedkitten

missk_ensington wrote:

gingercordial- I wish, I've been phoning their tax evasion hotline since Xmas, as well as submitting 2 online forms and I can still see my ex doing his DJing as he's always done! Inland Revenue are too slow to catch a cold!

Erm are you sure you want to go reporting him for tax evasion when he knows you have been less than truthful getting your mortgage?

missk_ensington

He can't prove it, and I have already submitted an employers reference. Actually I weren't talking about him anway, I meant my son's father. He gets an additional £200 a week in cash that i'm entitled to 15% of, but I keep calling and they keep doing nothing.

As for my recent ex, who they gonna believe (Ive already got everyone thinking he laundered £90,000 lol as well as laundering money from tax evasion, and there's me, 20 years and paying everything, never missed a payment and him aged 40 with his history!?) My Mum said if they start investigating she'll put me on her company pay roll.

missk_ensington

PS. I never actually lied about my income, but my truthful income wasn't regarded as accountable- my part time wages are legit but my contract is renewed annually as we're a non-profit making org, thus its not viewed as permanent, DLA, Tax credt, CSA, Student loan 4k a year, student grants 8k a year. The income is there, but they wont accept it as income, hence the self-cert. Besides I dont see how I'm hurting anyone, I have no intention of ever defaulting on it

kuohu

Blimey what a thread :think:

But going back to the original question.. did you give Sainsbury's a ring?

Scarlett1

missk_ensington wrote:

As for my recent ex, who they gonna believe (Ive already got everyone thinking he laundered £90,000 lol

and you are proud of that :rolleyes:

regularsaver1

how long have you lived in the house now - that can affect it , and are you on the voters roll