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have i got ppi ?
simon5666
Posts: 2 Newbie
hi
thought i'd better check as when me and my wife took out a 95 % mortgage they got us to take out a £1000 loan that we are still paying each month just so we could get the mortgage.Is this normal ?
thought i'd better check as when me and my wife took out a 95 % mortgage they got us to take out a £1000 loan that we are still paying each month just so we could get the mortgage.Is this normal ?
0
Comments
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It is normal if you didnt have the deposit required and "borrowed" the deposit.
it isnt desirable and a sympton of the credit boom and it wouldnt happen now we have returned to sensible lending again but there is actually nothing wrong with doing it. Plus, even with sensible borrowing rules, you could still get away with it in a lot of cases.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
no i paid the deposit .0
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So, what did you borrow £1000 for on a loan?I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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