The Sub Prime Credit Thread - Part V

fairmorn308

jo-bo wrote: »

fairmorn, i would check a whole of market mortgage broker as they can find a lot more deals in a quicker space of time. btw how many years is the mtg over?

25yrs

When i spoke to my finanical advisor he said about 25% deposit but will get back to me 2mo

noah271007

jo-bo wrote: »

whoops sorry lol:)
surely if you were told 16.9% then this is what you should get, i used to have a standard mbna card and closed it after they started changing the rates for everything. basically there were 4 different rates- a cash, balance transfer, money transfer, standard purchase rate=very confusing!

plus i started on a flat rate 6.9% and ended up on a 34.9%

:eek::eek::eek: How long from 6.9% to 34.9%?

I agree 100% with you its confusing with 4 different rates...obviously its designed to confuse customers.... only financial savvy people will stay clear!!! It is very unfortunate.

jo-bo

it was ok for a couple of yrs then started going up gradually over the next 2yrs, i rang to complain as i've never missed a payment or paid late and they said there was nothing they could do! i decide to bin as it had nothing to offer and the guy i spoke to was in india and he sounded like he didnt give a damn at this point i'd been a customer for 5yrs!!! I've kept my amex one as it's ok for getting extra points every now and then(i'm a bit of a sad act and use them for hmv e-vouchers!) especially if you haven't used it for a while they'll offer you several thousand points for a £10 spend
best credit card provider imho is halifax, been with them for 9yrs and they offer very good existing customer offers, i'm currently on a 6.95% lob and they're good with limit increases(they don't search you're file-unlike mbna!) after 6mths then every 4 after that

noah271007

jo-bo wrote: »

it was ok for a couple of yrs then started going up gradually over the next 2yrs, i rang to complain as i've never missed a payment or paid late and they said there was nothing they could do! i decide to bin as it had nothing to offer and the guy i spoke to was in india and he sounded like he didnt give a damn at this point i'd been a customer for 5yrs!!! I've kept my amex one as it's ok for getting extra points every now and then(i'm a bit of a sad act and use them for hmv e-vouchers!) especially if you haven't used it for a while they'll offer you several thousand points for a £10 spend
best credit card provider imho is halifax, been with them for 9yrs and they offer very good existing customer offers, i'm currently on a 6.95% lob and they're good with limit increases(they don't search you're file-unlike mbna!) after 6mths then every 4 after that

Does MBNA give out automatic CL increase or this is subject to credit search for every request? What the name of your MBNA AMEX CC you got?

jo-bo

i think its called mnba amex rewards card!, when you join online banking on the main page which display balance, available credit and credit limit it will have the option next to credit limit to APPLY for a limit increase, on the next page after selecting this option it will ask for the reason, what limit you would like and household income. you dont have to fill out what limit you would like but the others must be completed. this is then referred to an underwriter( i think ) and will take upto 24hrs for a result:( however if the option is not next to your credit limit then you cannot apply to increase your limit. i dont recall ever just getting a limit increase out of the blue.

Brian1966

Evening everybody
At least it seems 'friendly' and troll free in here tonight.
Good to see that the thread was saved :beer:

Berry._2

Brian1966 wrote: »

Evening everybody
At least it seems 'friendly' and troll free in here tonight.
Good to see that the thread was saved :beer:

Not so. Wrangler is around... aka aron.

fairmorn308

fairmorn308 wrote: »

good evening

I spoke to my financial adviser today and he said as when i was 19yr old i had a mortgage for a few months i wont be classed as 1st time buyer. Also he said i would need 25% deposit but i have looked and there is other deals on at the moment. Am unsure

Just spoke to santander on the phone and they can offer me the following.

House: £165K
Amount Borrow : £148,500
Deposit: £16500 - 10%
Monthly Payment: £956
3yr Fixed Rate 5.99%

Subject to credit rating + Proof of income which none of them will be a problem i hope.

Does this sound like a ok deal?

ElkyElky

Brian1966 wrote: »

Evening everybody
At least it seems 'friendly' and troll free in here tonight.
Good to see that the thread was saved :beer:

So far! He came on around 11ish yesterday I think.

Brian1966

ElkyElky wrote: »

So far! He came on around 11ish yesterday I think.

Here's hoping that his mummy sends him to bed early then :rotfl:
So annoying that one or two idiots spoil it for the rest of us. :mad: