Mortgage query

edited 30 November -1 at 1:00AM in Mortgages & Endowments
23 replies 1.1K views
2

Replies

  • ACGACG Forumite
    21.5K Posts
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    ✭✭✭✭✭
    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.
  • GMSGMS Forumite
    5.4K Posts
    Tenth Anniversary Combo Breaker
    ✭✭✭✭
    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.
  • ThrugelmirThrugelmir Forumite
    83.4K Posts
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    ✭✭✭✭✭✭
    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.
    It's not whether you're right or wrong that's important, but how much money you make when you're right and how much you lose when you're wrong." — George Soros
  • ACGACG Forumite
    21.5K Posts
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    ✭✭✭✭✭
    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.
  • edited 1 February 2013 at 12:27AM
    holly_hobbyholly_hobby Forumite
    5.4K Posts
    1,000 Posts Combo Breaker
    ✭✭✭✭
    edited 1 February 2013 at 12:27AM
    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
  • ThrugelmirThrugelmir Forumite
    83.4K Posts
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    ✭✭✭✭✭✭
    As a side note, Nat Hunter system is actually an anti-fraud data sharing system

    Application fraud takes many guises.
    It's not whether you're right or wrong that's important, but how much money you make when you're right and how much you lose when you're wrong." — George Soros
  • Dave_HamDave_Ham Forumite
    6K Posts
    Tenth Anniversary Combo Breaker
    ✭✭✭✭
    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.
This discussion has been closed.
Latest News and Guides

Best student bank accounts 2021/22

Incl. free 0% overdrafts and railcards

MSE Guide

Next 50% off sale rumour

Here's what we've found...

MSE Deals