The Sub Prime Credit Thread - Part V

fairmorn308

Thank you. Got another issue with citi bank which will be replying to about tonight aswell.

BTW i got accepted for 1st direct account with £500 OD but dont think am going to take it

izools

fairmorn308 wrote: »

Thank you. Got another issue with citi bank which will be replying to about tonight aswell.

BTW i got accepted for 1st direct account with £500 OD but dont think am going to take it

Why on earth not? How could you possibly get better elsewhere? Interest free, best bank ever, superb customer service, the whole shebang!

I'd give up my credit cards to get an FD account

fairmorn308

Dont see the advantage to having one over my A+L account tho

stephane_2

You would be silly not to take the FD account, far better than any on the market at the moment in terms of efficienty, customer service, free overdraft etc....

kilasuit

Btw fr those that remember me saying how i had an interview at santander re a job there.

Well i didnt get it which has been a rite kick in the teeth tbf as i hate my current job

izools

fairmorn308 wrote: »

Dont see the advantage to having one over my A+L account tho

You'd choose to have a Santander backed account than an HSBC backed account? Really?

Don't want to sound cocky here but you really need to read more on these forums if you think that's a good choice!

fairmorn308

Right guys. As i am now debt free am saving for buying a house.

Do you guys think 10% is enough to get a mortgage these days? I can have 10% deposit within next 2 months.

izools

fairmorn308 wrote: »

Right guys. As i am now debt free am saving for buying a house.

Do you guys think 10% is enough to get a mortgage these days? I can have 10% deposit within next 2 months.

Not really. 15% to 25% is what you should be aiming for otherwise you'll be paying nearly double the interest rate you could potentially get.

fairmorn308

I am very keen on a new build which are starting to be built in my town. I will need to find out how long they will take to build etc cause i can raise 20% deposit by the end of the year.

izools

fairmorn308 wrote: »

I am very keen on a new build which are starting to be built in my town. I will need to find out how long they will take to build etc cause i can raise 20% deposit by the end of the year.

Hmm... I stand corrected. Just had a look around and from what I've seen you'd be looking at around 4.5% (tracker) / 5.9% (fixed) with a 10% deposit and 3.9% (tracker) 4.0% (fixed) with a 20% deposit so there's not really a lot in it as long as you shop around