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Mortgage query

2

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  • ACG
    ACG Posts: 25,098
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    You borrowed money and refused to pay it back. Thats technically theft.

    Whether you have broken the law or not is debateable, morally though your in the wrong. You havnt actually gone to court and proved you dont owe the money and even if you did, it would be on a technicality which doesnt sit well with me.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • Its not 65K value, the earlier poster asked for PP not MV. Value is about 90K

    I need to buy it so it sounds like I will have to do a little (lawful) financial jiggery pokery.
  • GMS
    GMS Posts: 5,392
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    omoplata wrote: »
    Its not 65K value, the earlier poster asked for PP not MV. Value is about 90K

    I need to buy it so it sounds like I will have to do a little (lawful) financial jiggery pokery.

    Lending will be based on lower of the PP or OMV so 65k.

    Jiggery Pokery can not be lawful if it involves infalting/amending/manipulating figures.

    Why is a 90k property available for 65k?
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • ACG wrote: »
    You borrowed money and refused to pay it back. Thats technically theft.

    Whether you have broken the law or not is debatable, morally though your in the wrong. You havnt actually gone to court and proved you dont owe the money and even if you did, it would be on a technicality which doesnt sit well with me.

    It's not debatable at all. I broke no laws, the greedy banks broke the laws when they contravened the consumer credit act in an attempt to fool more customers to enter into lucrative contracts. I didn't pay it back because I wasn't legally obliged to.

    And it is not 'technically theft' either and I don't care how it sits with you.
  • GMS wrote: »
    Lending will be based on lower of the PP or OMV so 65k.

    Jiggery Pokery can not be lawful if it involves infalting/amending/manipulating figures.

    Why is a 90k property available for 65k?

    Who said anything about infalting/amending/manipulating figures? I didn't.

    The price was agreed a few years ago. Influenced by a business deal.
  • Thrugelmir
    Thrugelmir Posts: 89,546
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    omoplata wrote: »
    It's not debatable at all. I broke no laws, the greedy banks broke the laws when they contravened the consumer credit act in an attempt to fool more customers to enter into lucrative contracts. I didn't pay it back because I wasn't legally obliged to.

    And it is not 'technically theft' either and I don't care how it sits with you.

    However the banks you defaulted on do. So hardly surprising they have no interest in advancing you further money.

    Google NationalHunters. There'll be a black mark against your name there.
  • ACG
    ACG Posts: 25,098
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    If you were not legally obliged to pay it back then you wouldnt have defaults.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • holly_hobby
    holly_hobby Posts: 5,363
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    edited 31 January 2013 at 11:27PM
    Think its already been said ..

    BTL mortgage criteria ...

    1. Current residential mge reqd
    2. No DSS
    3. No adverse (whether you believe the CCAs provided do not comply with the CCA74, rendering them legally unenforceable, does not mean you do not owe the debt, hence the defaults).
    4. Mge based on the actual purchase price, not market value, which must be agreed and verified by the surveyor as approperiate for mge purposes.

    So quite a number of strike outs there I'm afraid.

    As a side note, Nat Hunter system is actually an anti-fraud data sharing system - however your defaults and you (if you have not been party to fraudulent financial apps) will be registered amongst the various CRAs until their 6th anniversary (experian, equifax and callcredit).

    Hope this helps

    Holly
  • Thrugelmir
    Thrugelmir Posts: 89,546
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    As a side note, Nat Hunter system is actually an anti-fraud data sharing system

    Application fraud takes many guises.
  • Dave_Ham
    Dave_Ham Posts: 6,045
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    Forget the adverse for now, you have not said if you are currently a home owner or not?

    That in itself would be a bigger issue.

    Incidentally your attitute stinks. I hate this culture that we are in where people actually think it is ok to go down this contract route.

    Imagine if your employer told you at the end of the month that you employment contract was "flawed" and that you were not getting paid and no longer had a job. Different ball game then eh!
    I am a Mortgage Broker
    You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it.
    This signature is here as I follow MSE's Mortgage Adviser code of conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
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