Has my sister been badly advised by Barclays and her solicitor?

andrewmp

The Following User Says Thank You to VIGILANT22 For This Useful Post: Show me >> _Andy_ (Today)

Well, there's a suprise :-) :-) :-)

VIGILANT22

andrewmp wrote: »

The Following User Says Thank You to VIGILANT22 For This Useful Post: Show me >> _Andy_ (Today)

Well, there's a suprise :-) :-) :-)

=andrewmp

You and yr posts are as useful as ditch crawler.....in fact could be the same..........they definitely have the same level of knowledge........:rotfl:

MrPoor

My mortgage offer from Woolwich also contained the same condition. It appears to be a standard condition they include these days.

I did not like the condition and thought it was a bit silly since there was no way in hell I could pay off my debts within 30 days and actually complained. Barclays refused to remove it and basically told me what Afro has been saying, that its only an issue if I default and that they have better things to worry about. I then asked them why they bother including it since it could put customers off, they just told me its the standard protocol these days and something they have been forced to do due to customers in the past playing the "irresponsible lender" card in the past when they fail to pay.

Its annoying but I took the risk and completed. If I fail to pay or keep up with payments, the consequences are the same whether they included the condition in question or not.

RX-78

I still dont think putting in a clause which both parties knows is impossible to comply with will get the lender off the hook from being an irresponsible lender.

"So how did you think someone earning 60k/year with no savings can clear 22k debt in 30 days Mr.Banker? No, no proof of their ability to clear their debt? And you still lent them money?"

Ditch_Crawler

Dear God, as a late Easter present to us all, please send a Forum Moderator.

Amen xx

Trollfever

Is this the current thread where the Trolls can hang out?

:beer:

SavemeLord

wossa Troll?

Afro_Thunder

MrPoor wrote: »

Its annoying but I took the risk and completed. If I fail to pay or keep up with payments, the consequences are the same whether they included the condition in question or not.

Mr Poor has hit the nail on the head!

If you have recieved an offer it means that the lenders believe that you can afford the mortgage repayments. If they believed that your debts make you a risk they would either (1) not lend you the money or (2) ask you to settle all debts before they lend you the money. Therefore, if they make you an offer they believe that you can afford both your mortgage repayments and other commitments.

All lenders care about is whether you can keep up with payments and if you do this you will never hear from them again. If you dont they will contact you. As MrPoor correctly said, it does not matter what conditions you have on your offer since if you miss payments the consequences are the same.

dopester

Monkey_Joe wrote: »

My sisters debts is sustainable. Her and her husband have a combined salary of 60k. Its sustainable.

Keep telling yourself that - cling on to that belief which obviously can't crumble given that the country has run out of money, we've printed up £180 billion, nationalised large swathes of the banking sector, and the deficit is growing by near half a billion pounds a DAY.

Sustainable only if their circumstances don't radically change. 2 TEACHERS buying via the Shared Ownership scam just before a General Election! Yet some people still believe in Labour's miracle economy glory.

Teachers are threatening to take industrial action with other public sector unions to oppose cuts to public services after the general election.

Members of the National Union of Teachers backed calls for a joint campaign to oppose "privatisation and cuts in education services".

There were fears of "savage public spending cuts" after the election.

These included warnings over pay freezes and threats to pensions.

Earlier, the NUT had given a standing ovation to Mark Serwotka, the general secretary of the Public and Commercial Service Union, when he called on public sector unions to join forces to fight any cuts in jobs, pensions or conditions of service.

http://news.bbc.co.uk/1/hi/education/8603554.stm

Monkey_Joe

dopester wrote: »

Keep telling yourself that - cling on to that belief which obviously can't crumble given that the country has run out of money, we've printed up £180 billion, nationalised large swathes of the banking sector, and the deficit is growing by near half a billion pounds a DAY.

Sustainable only if their circumstances don't radically change. 2 TEACHERS buying via the Shared Ownership scam just before a General Election! Yet some people still believe in Labour's miracle economy glory.

http://news.bbc.co.uk/1/hi/education/8603554.stm

Dont be a c*nt!

What does anything you wrote have to do with my original question. What is your point?

Would you prefer it if I was a miserable sod like you and depress my sister by repeatedly warning that despite her security and happy life now she may one day lose her job and will struggle?

Misery and bad luck can happen to anyone but all people can do is be sensible and enjoy today. Today my sister and her husband can sustain their debt and their mortgage repayments. If one day the worse does happen (like you want) then they both have the strength to cope. However, the worse has not happened, and all we can do is be sensible with our money and take each day as it comes. Which my sister is doing.

She is a sensible girl and most of her and husbands debts are down to a graduate loan they took when they were students. They have never struggled paying it off and this will be the same case when mortgage payments start (otherwise the lender would not have approoved them).

If everyone followed the advise of miserable sods like you the we will all be depressed and not achieve anything. That may be your attitude towards life but not mine or my sisters.