The Sub Prime Credit Thread - Part V

Zack1

hennerz wrote: »

Anyone please?

How long until you actually intend to get it? 500k is a hell of a lot for somebody who's recently came out of education... In this climate they'd surely want to see you with a high paying full time job for a substantial period of time, plus I'd imagine you'd need a hefty deposit.

Getting Capital One etc and bank accounts is the right way to start building your credit profile though, just be very careful not to miss any payments!

laney85

Does your credit card statement get produced on the statement day or the day after ?

izools

hennerz wrote: »

Anyone please?

Are you earning at least £200,000 a year? Do you have at least £50,000 to put down? Have you many years of proven flawless credit history with no signs of overcommitment? Do all other aspects of your life prove long standing stability?

If the answer to any of these questions are NO, it ain't gonna happen I'm afraid mate

edinburgher

What £500k will buy in my neck of the woods!

Now do you really expect to get one o' those 'irrespective of income'?

ElkyElky

Just discovered that I can make overpayments to my Natwest loan by sending a faster payment directly to the sortcode and account number. I wasn't aware I could do this. I guess I could settle the loan this way, rather than contacting them for an early-settlement figure which would no doubt contain interest and the likes.

izools

edinburgher wrote: »

What £500k will buy in my neck of the woods!

Now do you really expect to get one o' those 'irrespective of income'?

Same sorta price for a three bed apartment my way, too. Wouldn't expect that in a postcode who's average salary is £20,000

http://www.rightmove.co.uk/property-for-sale/property-16435335.html

edinburgher

Just discovered that I can make overpayments to my Natwest loan by sending a faster payment directly to the sortcode and account number

That's really good - are there any restrictions?

izools

Your loan account balance includes all of the interest for the term of the loan though so you're no better off unless you settle in full early.

ElkyElky

edinburgher wrote: »

That's really good - are there any restrictions?

I'm not entirely sure. I sent a payment of £3 and it was credited to my loan instantly. I'm going to try overpaying by a few hundred quid on payday.

I was told by the branch that I couldn't make overpayments when I asked if I could pay more as and when it suits my budget. :think:

ElkyElky

izools wrote: »

Your loan account balance includes all of the interest for the term of the loan though so you're no better off unless you settle in full early.

The interest on my loan is added to the balance monthly just like a credit card, and changes quite frequently - 2 months ago interest was £16, last months was £14 and this months was £15.