Lloyds accused of bad lending

davidcampbell

apaprantly lloyds have today been accued of lending money without followign proper affordability criteria. havent seen anything myself but programme on at 7.30 tonight bbc1 if anyone interested

jonesMUFCforever

Why did the reporter not ask the obvious question?? ie what have you done with the £100k??
Eric

davidcampbell

that was my thought eric. there was a lot of sympathy for the fella due to his mental problems and he genuinly didnt understand the implications - which i completely agree with - but what about his wife.

i missed the beginning so maybe this was covered but the impression i got was that it was joint debt. what did she make of what they were signing?

lloyds should never have lent it but its got to go both ways surely.

they even said "there is nothing obvious to show for the debt" .... 100k ???

CTT_2

I get sick and fed up with the whingers of this world always blaming someone else for their financial problems. Lloyds are in the business to make money and the would be borrorwer can always say no. Why always keep blaming the banks. In my experience Lloyds have always been good to me and offered me loans at a very competitive rate and have never pressurised me into taking on debt I could not afford.
I take it as a privledge they trust me and not a given right they have to loan me the money.
Let us all take responsibility for our own actions and stop blaming everyone else.

We_Laugh_Indoors

people should have the sense to know what they can afford.

the problem is people want everything instantly, and loans give the chance for that.

the trouble is there is always something better coming out than what people already have.

both banks and people who want to lend money need to pay more attention and think about how they do it.

virgin_moneysaver

same old story - they want it there & then & when it all goes t**s up they don't want to bear any responsibilty themselves - 'it's the lenders fault, they shouldn't have given me the loan' - you are an ADULT & be prepared to take some responsibility

Xbigman

I tend to agree that it takes two to go into debt, lender and borrower. But you can't completely blame either side and there are some very dodgy outfits out there.

Chap in work lived with his parents until 42 then married. Now 44 and getting divorced. 10K equity in current house but it must be sold so he is now homeless. Financial advisor says 'I can get you on property ladder again. 4.5 times income interest only mortgage. Repayments of some kind must start in 5 years time. 5K deposit 5K fee'. Now this is a guy who is homeless, desperate and financialy naive. I tried to tell him starting to repay a huge mortgage at age 50 is bad, I tried to tell him 5K in fees was high, I tried to tell him 4.5 times income was mad. How far do you think I got?

Do I blame the financial advisor? You bet.
Regards



X


PS. Financially naive - his wife has persuaded him to use her solicitor for his paperwork in the divorce. He agreed!

modu

davidcampbell wrote:

apaprantly lloyds have today been accued of lending money without followign proper affordability criteria. havent seen anything myself but programme on at 7.30 tonight bbc1 if anyone interested

I am in a quandry, pls give me your advise.

I want to buy an industrial sewin machine, it cost 15K. I need an unsecured loan

3 yrs ago I relocated to the U.K from the U.S, unfortunately I did not register on the electoral roll.

I have lived at my present address for the last 9 months, I am now on the electoral register.

In the last 19 months :

1. H.P Loan , £2, 500 with G.E Capital bank Ltd. (SETTLED)

2. Credit Card £1,200 (SETTLED) ( 1 Missed payment)

3. Credit card £1,400 (Balance £751) ( 1 Missed payment)

4. Store card £500 (Balance £136 )

5. I am in full time employment, I have no C.C. J's, I earn 29K+ p.a

6. I am 39 yr.o, I am currently in rented accomodation.

Which lender can I approach, will any lender 15k?, If not, how much will they
they lend ?


Yours faithfully


V. Confused

modu

Martin can you help with this enquiry ?