FSA regulated irresponsible lending & a ccj

_Andy_

Please for the love of God, stop posting

potatoefeet66

_Andy_ wrote: »

Please for the love of God, stop posting

10/1 i recon your connected to the lender at fault here, why are you so worried about posting this is the uk not china...

potatoefeet66

holly_hobby wrote: »

Yep Dave. from reading this thead I can see there has been previous threads apparently on the same subject, each one revealling more than the last ....

I think, having hopefully defended the professional advice he has already been kindly given here, I'll now sit this one out

H x

No one has answered the Question, what sense does it make for lender to advance 150k knowing of an existing ccj caused by their own negligence, and three and half years later refuse to allow customer to satisfy lump sum reduction aspect of contract upon porting lending inline with income assessed by underwriter.......?

Dave_Ham

Post 491 and the one above is my absolute favourite.

Clearly, you are crackers or this is a wind up given the time, attention and focus you are putting on these matters without logic.

Yet and this is great, you read back your post and then go back and edit it because you had mis-spelled a word...!

Genius

potatoefeet66

Never been great at spelling or IT.... still no logical answer to the thread.... trouble is it is clearly apparent we've all been sold worthless bits of paper called mortgages as lender when faced with a product with little or no commercial value they alter there own criteria to suit.... its called moving the goal post...... thats not fair and a breach regulated process.

So you having doubled the value of your home by your own hard work and good judgement would just sit back and let the lender do whatever they will with your security and future...... that the problem with this country couch potato,s I'm standing up for my rights and this bank picked on the wrong bloke to try and push under.....

dunstonh

Never been great at spelling or IT...

or borrowing money

trouble is it is clearly apparent we've all been sold worthless bits of paper called mortgages

Most people buy a mortgage. Not have it sold to them. Did you not go to a lender and ask if you could borrow the money?

its called moving the goal post...... thats not fair and a breach regulated process.

Rubbish.

So you having doubled the value of your home by your own hard work and good judgement

I very much doubt you doubled the value of your home through your hard work. What you mean is that the value rose due to a credit boom and you got lucky.

I'm standing up for my rights and this bank picked on the wrong bloke to try and push under.....

Not really. You are more like the crazy man shouting at pigeons making no sense whatsoever.

[Deleted User]

potatoefeet66 wrote: »

couch potato,s

Ironically, you could have used an 'e' that time round.

holly_hobby

dunstonh wrote: »

Not really. You are more like the crazy man shouting at pigeons making no sense whatsoever.

I loved all of your post which made me titter throughout ... but the above made me absolutely roll with laughter ... .... :rotfl::rotfl:

You are very naughty but do make me giggle ....

H x

holly_hobby

potatoefeet66 wrote: »

No one has answered the Question, what sense does it make for lender to advance 150k knowing of an existing ccj caused by their own negligence, and three and half years later refuse to allow customer to satisfy lump sum reduction aspect of contract upon porting lending inline with income assessed by underwriter.......?

How is a CCJ in your name (where you not only defaulted on a credit agreement, but the credior subsequently took you to court for it), somehow the mge lenders fault (or do you mean that you consider yourself to have been such a bad bet credit wise, they were utterly mad to have lent ? If thats the case why did you apply in the first place ...... they gave you (after assessment) what you wanted .... or do you mean that they should have seen that you needed protecting from yourself, and they should have accordingly rejected your application, on the basis that you were a completely irresponsible individual ?

To be clear, they didn't seek the CCJ, they did however, upon your application for a mortgage to them, assess your previous credit history, together with other aspects (inc an iffy income fig provided by you by the look), and base their decision, on that information and assessed risk exposure.

Having a CCJ, either pre or post completion, would not prevent you making any kind of capital reduction to your mge - why would it, its reducing the lenders exposure - so I don't believe that statement to be accurate.

Porting, you need to understand you port the mortgage product/rate NOT the capital/mortgage borrowings itself.

And from the year dot, porting has always been at the complete discretion of the lender, with full underwriting and status checks to the criteria at the time of application in relation to the new mge reqd - irrespective of whether the actual product port is permitted or not.

Lenders change their criteria as market constraints, legislation, actuarial and mge book data affect what they (notwithstanding legislative changes) are prepared to accept as a new business risk gong forward.

Your current stance is like me saying, my original mge as a self employed indivudal was self cert, and that now self cert mges are no longer available, I am of the mind to take the lender to the FSA or court, becuase the now want me to provide audited books to verify my status and income for my new borrowng - thats just the way it is, and just tough if I don't like it.

In your case, you must understand that there has been no mis-sale or negligence shown by the lender to you - and should you take this to FOS or the FSA (for what result I'm not sure) you'll be quickly rode out of town.

Your mge lender's criteria has changed - get over it, it happens and will continue to happen with all lenders, and its just a fact of life in the course of having a mge and being a mge lender.

In the meantime, your CCJ will fall off your credit record following its 6th anniversary (satisfied or not) - then (if of course you can satisfy the lenders status/affordability checks), you can move to an alternative lender, seeing as you are so unhappy that the present one gave you a mortgage the first place.

Hope this helps

Holly

potatoefeet66

holly_hobby wrote: »

I loved all of your post which made me titter throughout ... but the above made me absolutely roll with laughter ... .... :rotfl::rotfl:

You are very naughty but do make me giggle ....

H x

Still now answers then thought not.... the fact that you doubt I've double the value of my house does not mean I have not. the last house i sold was tripled admittedly that was more to do with the property bubble, but the one I live in now more due to the fact that its been a superb investment to refurb location, location, location....

Time will tell won't it. liked the pitch about me shouting at pigeons made me laugh to very witty x