Cheer Me up, i have just been slated!!

Beetlebug1983

tenroom wrote:

There you go again ! :mad:

This is exactly why I was harsh before. You have no respect whatsoever. I think you borrowed that money in good faith. No one twisted your arm, you just wanted what you wanted and the money was there so you took it. You sound like you actually resent them for wanting you to repay the money you borrowed.

If you're as young as I suspect you are (early - mid 20s), your attitude represents exactly what is wrong with today's celebrity-worshipping, binge-drinking, spend-spend-spend-for-tomorrow-we-die society and is morally reprehensible. As long as you get what you want and what your equally morally bankrupt peers say you should have then that's all that matters . . . F*** the lenders.

If you do get this mortgage, I positively GUARANTEE that you will be repossessed within 3 years.

I have know i have a responisbility to pay MY debts off, and thats what i intend to do. Slight humour helps things sometimes, and people like you shouldn't take it the wrong way. Im not Creditor bashing, im joking.

summerday

Beetlebug,

If I was you I would hope to get some money from the house sale (split with someone else I think you mentioned?). Then first of all pay off your debts in full, then the slate will be wiped clean. And then you will be able to start doing what most people these days have to do to be able to afford a mortgage to buy a house- start saving and hard! In the years before OH and I bought our house we worked our backsides off with FT jobs and additional part time jobs often working weekends etc...we knew that if we didn'twork extra hours it would take us longer to be able to afford a house.

Please don't be tempted to take out crazy income multiples for a mortgage, I don't mean to offend anyone who has taken out 7x their income but to me that really is asking for trouble. Your circumstances could change and it would be awful to have the house repossessed because you over stretched yourself.

You are in good company finding it hard to buy a house, and lots of others have big debts like you also. You would be really blessed if your Mum was to give you some money to wipe the debt out so you could start saving for a house deposit, lots of people aren't lucky enough to get any help from their parents

I know it sounds a bit boring and old fashioned these days to talk about saving up for house deposits rather than get 100% plus mortgages but it really is the safest and best route.

Good luck,
Sarah

GettingThingsDone

Beetlebug - remember the MSE 'Consumer Revenge' wisdom:

Companies that want to lend a person in your position enough to buy a £110K property aren't your friend.

Anyway, they'll do the sums to make the most out of you.

This site is full of great advice - sometimes you need people like tenroom to help propel you into the next phase of your life. You don't have to be great mates and lifelong buddies - just keep asking questions and listen to the answers

tenroom

Beetlebug1983 wrote:

I have know i have a responisbility to pay MY debts off, and thats what i intend to do. Slight humour helps things sometimes, and people like you shouldn't take it the wrong way. Im not Creditor bashing, im joking.

Fair enough. I retract my last rant

Pobby

tenroom wrote:

There you go again ! :mad:

This is exactly why I was harsh before. You have no respect whatsoever. I think you borrowed that money in good faith. No one twisted your arm, you just wanted what you wanted and the money was there so you took it. You sound like you actually resent them for wanting you to repay the money you borrowed.

If you're as young as I suspect you are (early - mid 20s), your attitude represents exactly what is wrong with today's celebrity-worshipping, binge-drinking, spend-spend-spend-for-tomorrow-we-die society and is morally reprehensible. As long as you get what you want and what your equally morally bankrupt peers say you should have then that's all that matters . . . F*** the lenders.

If you do get this mortgage, I positively GUARANTEE that you will be repossessed within 3 years.

Although I think tenroom is a bit in your face I cannot deny that from a first person view I have experienced similar behaviour within my family.It seems that for what ever reason,some people have ,lets say,a strange relationship with money.One member of my family is 18 years old with a breathtaking debt of 24k.All gone on a car,reason for it``it`s better than any car my mates own``.

Stupidly enough,some finance company had given him the money{he lives with his parents} and apart from an ipod has no other assets.

As for the celeb culture,we are bombarded with images from such talented people as Jade Goody,Jordan and all the other{how the heck did they become famous} chavos.Binge drinking maybe{can`t comment because I love a beer}.

Guess one thing that has changed peoples outlook on life is the massive and in mho distorted inflation in the house market.Youngsters{again within my family}want to pile into this crazy market.Why lenders are taking such dangerous risks in handing out money beats me.I would have thought that they were the first to realise how much debt there is already in this country.

Once again I will say that it is about a very wierd concept of money.

tight_jock

Pobby wrote:

Stupidly enough,some finance company had given him the money{he lives with his parents} and apart from an ipod has no other assets.

At last. someone who recognises that it is not always the fault of the individual. The finance houses and credit companies are all out to make obscene profits on the back of you and I . OK , a lot of us are daft enough to get sucked in and think we can afford that limit increase and see it as a reward for spending more and more ... and then ....... one day interest rates go up or you lose your job or your business goes down the pan. S**T hits fan.

On topic, how can the govt. allow 7x or even 5x mortgages. It will all end in tears.

Beetlebug1983

i definetley don't get any inspiration what so ever from jade/jordan!

I am proud that i have worked hard since the age of 17 (even though i have nothing to show for it really) but if i were to drop dead tomorrow, i wouldn't change it, its been an interesting journey to where i am today!

Beetlebug1983

plus i have had some good luck, deposited £10 into jackpotty to get 1000 pigsback points and £10 bonus, and i have won £150. That has gone straight into the debt account that i have opened to save up for paying my debts. With my paypal etc, should have a nice sum to pay off a small debt (capital one maybe)! So now, i have got 1,920 pigsback points. Once i get to 2,000, going to cash them in for boots vouchers and flog them on ebay! wish me luck!

firesidemaid

hi there BB!

have just read both of your threads and decided to add some humble thoughts about cutting costs and maximising income!

IMHO it would be best to rent for a year or 2 to get an idea of costs. if you do, start looking now as some properties/rents are better than others and you don't want to be rushed into it.

it might be a good idea to post your incomings and outgoings as you may think you have done all you can to make cuts, but the experts on here can take a look with fresh eyes.

i don't know what your jobs are, but you could try to increase your salaries, take on extra work Eg. in supermarkets where you might get cheap/free food, or look for other jobs.

ebay also can help you if you are moving - sell what you don't need.

and just search this site - there are ways to save and make money on everthing if you are savvy and do your research.

if you are sure you still want to buy, are your jobs tied? could you move to a slightly cheaper area further away? you could get a better deal on a house if you buy in winter rather than spring plus if you are not rushed to buy a house, put in cheeky offers and hope that one may be accepted.

sazza xx

Pobby

Well all I can say is that Gordan Browns ``economic miracle`` just like The Thatches ``economic revolution`` is about to go pete tong.It`s fine to allow house price inflation with weak lending policies but the time is coming when the whole sad situation will bite many in the bum.

Buying cheap geegaws from the far east is Ok bar the fact that the money to buy them is mainly,by the banks,borrowed from said places at very low rates of interest to be lent to us to keep on buying imported goods.A strange situation.

The pressure is on,like the OP who has so much debt,is to buy a highly overpriced property.I have no idea where the £29k of debt has gone and surely will not be judgmental regarding the same.However for banks to suck in folks to 5x times income mortgage is utter madness for both parties.I really wonder about the financial houses policies where they hope to get back the lent monies.

Wage inflation is very low.I would say that there is a ``smoke and mirrors``approach to inflation.Very easy to factor out house price rises,council and utility bills.All a bit scary methinks.