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Irresponsible Lending?
Comments
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Thrugelmir wrote: »Using that logic. Very few people with a mortgage would ever obtain other finance. Decisions are made at the time based on the facts. That's life unfortunately.
That’s true although mortgages now have a test to see how affordable the mortgage would be after a rate hike.
I can only assume that the OP believes every other lender has to follow a similar principle and well, they don’t.
Even mortgage providers don’t have to calculate if both parties in a joint mortgage can afford to pay it separately, otherwise many people wouldn’t be able to upsize.0 -
I think the OP is looking for a way to avoid paying the debt back - the only way they can do that is to default then their credit files are wrecked for at least 6 years so new credit is then unavailable to them.0
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Sounds more like irresponsible borrowing to me. The OP knew what their outgoings were and yet still went ahead with the loan.0
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Yes, it is what we werr considering but wouldn't be enough to pay off the full finance and with my credit wouldn't get another credit facility to be able to get a cheaper option. We have zero spar cash to our name currently.
You have a new partner now ? Or do you still just have one income coming in ?0
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