Mortgage for a new borrower significantly below LT averages

nollag2006

Graham_Devon wrote: »

Do I actually need evidence?

Yes

If you want anyone to believe you.

Otherwise it's just more Devon nonsense - which it is.

nollag2006

Graham_Devon wrote: »

Percy, do us a favour mate, and stop replying.

Can you take your own advice Graham, and also stop sticking your size 12s in on this and other threads?

It would be much appreciated.

Graham_Devon

ess0two wrote: »

I'd love to have a mortgage rate of 0.5%.

So your mortgage rate never fell from the interest rate you were paying when BOE rates were 5.75%, to what's being paid today with interest rates of 0.5%?

You have my sympathy.

Mine went from 7.75% to 3.5% due to a silly cap. So rates fell 5.25%, my mortgage rate fell 4.25%.

So I certainly benefitted from the fall, as I'm sure you did. Whether your rate is now 0.5% has absolutely nothing to do with what was said.

ess0two

Graham_Devon wrote: »

So your mortgage rate never fell from the interest rate you were paying when BOE rates were 5.75%, to what's being paid today with interest rates of 0.5%?

You have my sympathy.

Mine went from 7.75% to 3.5% due to a silly cap. So rates fell 5.25%, my mortgage rate fell 4.25%.

So I certainly benefitted from the fall, as I'm sure you did. Whether your rate is now 0.5% has absolutely nothing to do with what was said.

I'm probably 1.5% better off since the rate tumbled,still paying 5 x more than the BOE at the mo.

Mr._Pricklepants

Percy1983 wrote: »

the more I achieve

The more YOU achieve? :rotfl:
Tell us again how your girlfriend bailed you out, Percy.

Percy1983

Mr._Pricklepants wrote: »

The more YOU achieve? :rotfl:
Tell us again how your girlfriend bailed you out, Percy.

Ok I will try an engage an actual conversation with you.

The fact there is me and my fiancee both had debts and yet again we achieve something great which was my idea, in short we cut interest payments down to net to nothing, yes step 1 involved transferring a chunk of my debt into her name on interest free deals (this is the step you seem to like), step 2, my credit file is has spare capacity due to step 1, so I then maxed myself again taking the highest paying rates from her and transferring then back to me, we then focussed both of our payments on over paying the highest rates of interest which ever name they where in. Keep this up do a few more transfers as the balances come down and soon you have everything on 0% deals, to which we then cleared them in order of which 0% deal ended first.

The combined effort saved us thousands in interest (approx £7k in total) and of course saved time and also firmed up 2 rock solid credit files which then meant getting a mortgage was simple.

The reality is it was a risky strategy which only worked as we had absolute trust in each other. It was a great idea and has moved us ahead in life much quicker than would have been possible.

Quite and achievement there isn't it.

Mr._Pricklepants

Ok Percy, I probably got confused because a while ago you stated:

Percy1983 wrote: »

To summarise, If I borrowed from Paul, and then borrowed from Peter to pay Paul, Peter then rate jacked me so I borrowed off my fiancee to pay Peter.

Percy1983 wrote: »

The reality is it was a risky strategy which only worked as we had absolute trust in each other.

Quite risky for your fiancee I'd say as you brought 28K debt to the table

Percy1983 wrote: »

Quite and achievement there isn't it.

Yep, you're a lucky guy, Percy.

Percy1983

Mr._Pricklepants wrote: »

Ok Percy, I probably got confused because a while ago you stated:






Quite risky for your fiancee I'd say as you brought 28K debt to the table


Yep, you're a lucky guy, Percy.

Well the summary is quite correct as mentioned it was rate jacking which really kicked it off, it started at me taking the money from my fiancee, in the simplest form I borrowed off here and paid it back, the actual sums where much more involved.

In short at that time she had the financial upper hand and now I do. In the early days the balance would mean I was borrowing off her, now its a case of she is borrowing off me and that figure increases every month, but we really have stopped counting as we both put enough in for a comfy life and life is to short to keep worrying about pennies between us. We have a term now, its called our money, not mine or hers but our money, works great.

robmatic

Mr._Pricklepants wrote: »

Quite risky for your fiancee I'd say as you brought 28K debt to the table


Yep, you're a lucky guy, Percy.

Oh dear. Someone seems to be a bit jealous of other people having a genuine, real-life relationship.

If I were you I would try and rise above this Percy.

Mr._Pricklepants

Percy1983 wrote: »

Well the summary is quite correct as mentioned it was rate jacking which really kicked it off, it started at me taking the money from my fiancee, in the simplest form I borrowed off here and paid it back, the actual sums where much more involved.

In short at that time she had the financial upper hand and now I do. In the early days the balance would mean I was borrowing off her, now its a case of she is borrowing off me and that figure increases every month, but we really have stopped counting as we both put enough in for a comfy life and life is to short to keep worrying about pennies between us. We have a term now, its called our money, not mine or hers but our money, works great.

Thanks for explaining that, Percy.

robmatic wrote: »

Oh dear. Someone seems to be a bit jealous of other people having a genuine, real-life relationship.

If I were you I would try and rise above this Percy.

Not sure why you felt the need to butt in, but have a nice day anyway.