Earn £93k a year, Rejected for 10K loan?!

chesky369

Just as a matter of interest - how much does your partner own and what rent are you paying right now?

chesky369

sorry, meant earn, not own.

iolanthe07

meer53 wrote: »

Wasted words i feel, until the OP has their lightbulb moment nothing will make any difference to their plans. As i said before, the OP seems swayed by the promise of a "high end" lifestyle. Don't really think they're bothered at this moment as to how they will be able to afford it.

We'd all like a "high end" lifestyle wouldn't we ? Unfortunately (or fortunately i suppose) my lifestyle is now dictated by what i can afford. When i was married, i had all that, husband with 6 figure salary. He drove an Aston Martin, me, a Maserati (twice) 3 holidays a year, my kids got whatever they asked for. It's not all it's cracked up to be. He upped sticks and left one day.

My point is, no-one knows whats around the corner, 2 years is a long time. Life is far more enjoyable when you know you can afford something without having to make compromises.

This has got to be one of the most sensible and realistic posts I have read in the six years of visiting this site.

CTA_2

harveybobbles wrote: »

Has everyone overlooked one really obvious thing here?

Why would an accountant need a loan?

Why wouldn't an accountant need a loan?

spadoosh

CTA wrote: »

Why wouldn't an accountant need a loan?

The OP isnt an accountant, they created a job so they couldnt be identified. They merely work for a bank (on what department i dont know but i suggested marketing and they said that would do!)

Everyone will need some sort of loan unless you inherit a lot or are a nutter and scrimp for years then buy a house cash.

Accountants round my way earn £35-45k by no means a salary that could jsutify no loans, no matter how good the accountant is. Not just that most of them would have had to save all their wages for two year to purchase their range rovers that they are driving.

I love my accountant, he drives a 12 year old fiesta on the basis that he doesnt want his clients to think he's loaded as it might look like he charges too much etc. He doesnt mention the 30+ properties he owns aswell. Though the majority is now paid off/close to he said in his earlier days he financed himself to the hilt knowing he could always make more money than a bank would charge him for borrowing, now thats a good accountant!

The best accountants (maybe not accountants but finance guys) dont use their own money they use other peoples and earn off that!

CTA_2

spadoosh wrote: »

The OP isnt an accountant, they created a job so they couldnt be identified. They merely work for a bank (on what department i dont know but i suggested marketing and they said that would do!)

Everyone will need some sort of loan unless you inherit a lot or are a nutter and scrimp for years then buy a house cash.

Accountants round my way earn £35-45k by no means a salary that could jsutify no loans, no matter how good the accountant is. Not just that most of them would have had to save all their wages for two year to purchase their range rovers that they are driving.

I love my accountant, he drives a 12 year old fiesta on the basis that he doesnt want his clients to think he's loaded as it might look like he charges too much etc. He doesnt mention the 30+ properties he owns aswell. Though the majority is now paid off/close to he said in his earlier days he financed himself to the hilt knowing he could always make more money than a bank would charge him for borrowing, now thats a good accountant!

The best accountants (maybe not accountants but finance guys) dont use their own money they use other peoples and earn off that!

Thats my point. If you re-read my post, I am quoting someone who believes that accountants never need a loan. I am merely pointing out how ridiculous that is.

harveybobbles

Rayden wrote: »

I earn £93,000 a year and work for a major UK bank as an Accountant.

as per the first post.

This is how I concluded that they were an Accountant..

Bufger

Rayden wrote: »

Hi there

We're buying off-plan. It's a new development by the river in london and a great price; only 3 of the flats we we could afford were available so we put down a 1k deposit, and now need to get 50k this year; and 50k next year; and then we don't even take out a mortgage until the end of 2013 for the remainder.

it's really a case of trying to get that amount of cash - quickly. My boyfriend is using the 12K from the credit card he has and his own savings; I need to get 25k too. I could save for a few months but the deadline for the first payment is in a few weeks time.

It's not ideal but we really want the place..!

The bank I work for offers staff loans at 8% which I will take if I can. I was just frustrated that I've never taken loans out in my own name, and the only times i have were jointly with my ex, with only one remaining from 2007.

Sounds to me like you're not ready to buy the flat and you've acted on a whim without having your finances in place. You're willing to get a 10k loan, 12k on your fellas Credit Card and use up all your savings for the first part of this deposit and then you need to save again whilst paying this off for your second portion (probably more loans if you're living to your means as you mentioned) and then you'll have a few months to reduce that debt before you start paying a 300k mortgage? will you even get accepted for this mortgage if you cant get a 10k loan?

You've rushed in and you're not ready. My advice would be to learn how to manage the income you have before you think about further debt.

spadoosh

harveybobbles wrote: »

as per the first post.

This is how I concluded that they were an Accountant..

Your observation and evaluation skills are not too good then.

The first problem you should have found is that no accountant in the uk would be that clueless (sorry op dont mean it in a nast way) about credit and credit checks.

Secondly if you happened to read even a few more comments it clearly states (from the op) that they are not an accountant however they invented that job to protect their annonyminity (sp?!) from their ex partner.

In forums 99% of the time a story evolves from that of the first post and facts and details are clarified along the way, its poor etiquette to read the first post, ignoring the rest, and commenting. The chances are what you have writen would have already been questioned, as it was.

Ignoring all of this, as CTA says, its ludicrous to suggest that accountants dont or shouldnt need a loan.

MiddyMum

harveybobbles wrote: »

as per the first post.

This is how I concluded that they were an Accountant..

YES, but later on in the thread the OP explains that she has created another identity for the purpose of keeping herself anon.