Sub Prime Credit Card Club

louiser123

Tribulation wrote: »

Wonder if I should phone up Lloyds and say that now I part own them, being a tax payer, can I have a proper account please instead of my basic one

i was thinking just the same of RBS!! LOL:D

Sammy_Girl

Tribulation wrote: »

But Southern Pacific have been great for me. We had a very large interest secured loan before we got our mortgage. The mortgage cut our payments nearly in half.

Currently on 5.29%

Wow that's a great rate!! We're on 6.29% (I think!!). I remember we got offered 2 or 3 year fixed and we went for 2 years thinking we'll find a better deal after 2 years. How silly we were, I so wish we went for 3 year. Oh well we live and learn lol.

So what do you think will happen to SPML. I hate the way we get refered to as toxic debt lol - as if we're that dangerous!!

sharon-lalala

Tribulation wrote: »

Wonder if I should phone up Lloyds and say that now I part own them, being a tax payer, can I have a proper account please instead of my basic one

Do you really want a proper acc with Lloyds? My experiance hasnt been that good. Had a business account with them 4 yrs ago and a platinum plus account. When i split from partner got into loads of probs with my overdraft- they were chargin me £140 per month for going over and it was a nightmare to get out of. Even now they wont take my ex off of the account because they need a signed letter of authorisation from him- and he wont play ball, leaving me with a full current account and being charged £18 a month for the honour of having it. I cant even down grade cos its joint and they need his say so. :rolleyes: :mad: :rolleyes:

PROLIANT

Got to go peeps, good nite and see you tomorow, have fun!

Sammy_Girl

PROLIANT wrote: »

Got to go peeps, good nite and see you tomorow, have fun!

Nite Mr P!

sharon-lalala

Sammy_Girl wrote: »

Wow that's a great rate!! We're on 6.29% (I think!!). I remember we got offered 2 or 3 year fixed and we went for 2 years thinking we'll find a better deal after 2 years. How silly we were, I so wish we went for 3 year. Oh well we live and learn lol.

So what do you think will happen to SPML. I hate the way we get refered to as toxic debt lol - as if we're that dangerous!!

I know its a blubby cheek! I was with SPML years ago when i got my first mortgage. Just remember us sub-primeres helped boost the econ more than anyone, it was the fact cats and irresponsible lenders that fluffed it up. Oh it feels good to play the blame game! POWER TO THE PEOPLE!

linton73

Can somebody answer me a quick question ive just applied for the flybe credit card and recived this reply after completing the application. I know it seems i have but i just wanted confirmation ?

Congratulations

Your application has been accepted.
What happens next? We will issue you with your new card and PIN within 7-10 working days.
Your application reference is given below. Please write this down and quote it if you need to contact us.
Does this mean ive been accepted ? or are they still considering it ?

If i have then for people who've been accepted what has there credit limit been ?

thanks

Tribulation

Sammy_Girl wrote: »

Wow that's a great rate!! We're on 6.29% (I think!!). I remember we got offered 2 or 3 year fixed and we went for 2 years thinking we'll find a better deal after 2 years. How silly we were, I so wish we went for 3 year. Oh well we live and learn lol.

So what do you think will happen to SPML. I hate the way we get refered to as toxic debt lol - as if we're that dangerous!!

I think we got the low interest rate because we had been paying nearly double for the previous 3 years and had never missed a payment, plus we have a lot of equity in the house.

Got the following letter off of Capstone a few days ago.

As you may be aware from recent news reports, certain companies within the Lehman Brothers group were placed in administration.

Southern Pacific Mortgage Limited (SPML) forms part of the Lehman Brothers group, however, we can confirm that Southern Pacific Mortgage Limited (SPML) and it's specialist servicer, Capstone Mortgage Services Limited (Capstone), are not in administration and will carry on with 'business as usual'

The status of your mortgage is not affected in any way by the recent events concerning Lehman Brothers and you should continue to make your repayments as and when they fall due

sharon-lalala

FYI-just to add to the point about propping up the market!
Introduction
There is an emerging market (called, sub prime lending) for those who have poor credit records but who fall short of being totally beyond credit acceptance and risk.
To explain why there is such a business, take this example:
The commission payable to a financial adviser or mortgage broker from the actual moneylender for £100,000 deal is about £250.
The commission payable to the broker or adviser who signs up a £100,000 deal using sub prime lenders is £2,000 to £2,500. Yes! 10 times more. You have probably guessed why there is such a difference – the interest rate can be up to 3.5% higher.
Sorry i couldnt add the link i will try again
http://www.bizhelp24.com/personal-finance/sub-prime-credit-3.html

Tribulation

linton73 wrote: »

Can somebody answer me a quick question ive just applied for the flybe credit card and recived this reply after completing the application. I know it seems i have but i just wanted confirmation ?

Congratulations

Your application has been accepted.
What happens next? We will issue you with your new card and PIN within 7-10 working days.
Your application reference is given below. Please write this down and quote it if you need to contact us.
Does this mean ive been accepted ? or are they still considering it ?

If i have then for people who've been accepted what has there credit limit been ?

thanks

A lot have had around the 4k mark. We got 5k

I got that exact reply when I applied the Friday before last (10 days ago). The following Friday the card dropped through the door. Then today the pin number arrived.