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  • FIRST POST
    • carlrac
    • By carlrac 1st Dec 06, 5:28 PM
    • 13Posts
    • 3Thanks
    carlrac
    Dont Be Put Off By Advice
    • #1
    • 1st Dec 06, 5:28 PM
    Dont Be Put Off By Advice 1st Dec 06 at 5:28 PM
    A couple of months back I logged a couple of different threads relating to my need to remortgage to clear outstanding debts,currently being dealt with via a dmp with the CCCS.I have 2 defaults & a credit score of 485 which is classed as very poor.I was advised by several people on this column that I would be lucky to find another lender willing to lend below a rate of 8% & lucky to even to find one to lend at all!:confused:
    Well,with nothing to lose but thinking I may be wasting my time,I tried London & Country & to my amazment they come back with a mortgage with the Abbey at a rate of 4.88% which we have now been formally offered,which I am over the moon with.
    So anyone in a similar boat dont take everything you read on here as gospel go to a broker to see how the land really lies.
Page 2
  • kenshaz
    I told you that the clique would arrive ,like magic,and just read my post no personal comments ,just compare my post with the one above and all is revealed.I wish they could forget about me and just peddle their wares.Also watch how they support each other with clicking each others thanks .Also observe how she draws in the support of the other brokers,.The other brokers will now pile in.Also you get ,the want to be brokers ,who work for the institutions as tied advisor's who follow the trail of fish like sea-gulls giving additional support.
    Last edited by kenshaz; 03-12-2006 at 11:13 AM.
    To be happy you need to make someone happy.

    • Xbigman
    • By Xbigman 2nd Dec 06, 2:02 PM
    • 3,264 Posts
    • 1,455 Thanks
    Xbigman
    If you are on a DMP then you were lucky to get that rate from C&G. If you went to the open market you would end up on sub prime rates, which start around 7% if you are lucky, and typically run around 8 to 8.5%.
    Is any of your 30k secured against your property? If it is you would have problems getting a remortgage at all without clearing all the secured lending with a huge expensive new mortgage.

    Whether or not you should add that 30k to your mortgage is debatable anyway. Generally this sort of consolidation does not work in the long term, is very expensive and secures a lot of unsecured debt unnescesarily. I don't know enough of your financial background to say consolidation might help you, but I suspect not.
    Overall the C&G deal is pretty good in your circumstances, and the longer you fixed for the better.
    Regards





    The 8% comment was me. As has been pointed out, my information was out of date and sub prime rates have fallen whilst more high street lenders are drifting into sub prime markets (allegedly).
    However, I stand by the point of my post in that the OP did not provide any financial background to their debts and I seem to be the only one who tried to warn of the pitfalls of consolidating and increasing the mortgage.

    Where as I freely acknowledge that the advisors who post on here know alot more than me about mortgages, maybe they are not the best people to ask whether or not the person needs a remortgage.
    Regards



    X
    Xbigman's guide to a happy life.

    Eat properly
    Sleep properly
    Save some money
    • Xbigman
    • By Xbigman 2nd Dec 06, 2:03 PM
    • 3,264 Posts
    • 1,455 Thanks
    Xbigman
    Hmmm. That looks quite harsh. No insult intended but its how I feel.
    Regards



    X
    Xbigman's guide to a happy life.

    Eat properly
    Sleep properly
    Save some money
  • AndyWallace
    I told you that the clique would arrive ,like magic,and just read my post no personal comments ,just compare my post with the one above and all is revealed.I wish they could forget about me and just peddle their wares.Also watch how they support each other with clicking each others thanks .Also observe how she draws in the support of the other brokers,.The other brokers will now pile in.Also you get ,the want to be brokers ,who work for the institutions as tied advisor's who follow the trail of fish like sea-gulls giving additional support.
    by kenshaz
    lol. Quite funny.

    Andy
  • herbiesjp
    Welcome back Kenshaz - long time no see
    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.
    • MortgageMamma
    • By MortgageMamma 2nd Dec 06, 4:19 PM
    • 6,495 Posts
    • 3,231 Thanks
    MortgageMamma
    I told you that the clique would arrive ,like magic,and just read my post no personal comments ,just compare my post with the one above and all is revealed.I wish they could forget about me and just peddle their wares.Also watch how they support each other with clicking each others thanks .Also observe how she draws in the support of the other brokers,.The other brokers will now pile in.Also you get ,the want to be brokers ,who work for the institutions as tied advisor's who follow the trail of fish like sea-gulls giving additional support.
    by kenshaz
    You are in the wrong forum mate! Comedy is in the moneysavingarms.

    when you say something constructive and helpful to forum users rather than waging your own personal vendetta about against advisers who have upset your delicate balancewho do not glorify L & G then you may be taken seriously.

    Also, seagulls arnt around to support fish - they actually eat them. Analogy doesnt really work.

    When did they let you out by the way?
    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.
  • _Andy_
    I told you that the clique would arrive ,like magic,and just read my post no personal comments ,just compare my post with the one above and all is revealed.I wish they could forget about me and just peddle their wares.Also watch how they support each other with clicking each others thanks .Also observe how she draws in the support of the other brokers,.The other brokers will now pile in.Also you get ,the want to be brokers ,who work for the institutions as tied advisor's who follow the trail of fish like sea-gulls giving additional support.
    by kenshaz
    Absolute genius. Very entertaining.
  • kenshaz
    [quote=herbiesjp]Welcome back Kenshaz - long time no see.

    Nothing has changed.
    Last edited by kenshaz; 03-12-2006 at 11:18 AM.
    To be happy you need to make someone happy.

    • payless
    • By payless 3rd Dec 06, 11:26 AM
    • 6,608 Posts
    • 2,361 Thanks
    payless
    see threads

    http://forums.moneysavingexpert.com/showthread.html?p=3334917#post3334917

    I have no idea if Xbigman is in the industry-
    either way he raised some good points

    BUT the comments in
    http://forums.moneysavingexpert.com/showthread.html?p=3280060#post3280060

    seem fine to me
    Last edited by payless; 03-12-2006 at 11:28 AM.
    Any posts on here are for information and discussion purposes only and shouldn't be seen as (financial) advice.
    • payless
    • By payless 3rd Dec 06, 11:30 AM
    • 6,608 Posts
    • 2,361 Thanks
    payless
    I was advised by several people on this column that I would be lucky to find another lender willing to lend below a rate of 8% & lucky to even to find one to lend at all!:confused:
    That does not really look the case from the threads

    although would agree with
    dont take everything you read on here as gospel go to a broker to see how the land really lies.
    Any posts on here are for information and discussion purposes only and shouldn't be seen as (financial) advice.
  • kenshaz
    The original poster has an opinion,very often other post's can shoot from the hip and dishearten individuals it is the nature of public forum's and once again follow Martin's advice and realise the nature of the discussion because that is what it is.Always confirm and verify pointers that you might receive,sending you in a direction without commitment.
    I would also give note to those who have delusions of grandeur.
    To be happy you need to make someone happy.

    • Noz
    • By Noz 3rd Dec 06, 1:05 PM
    • 3,606 Posts
    • 3,404 Thanks
    Noz
    :confused: I suggest that you re-read the thread .ie poster very happy with L&C,given contra advice by regular posts previously ,not rocket science.Do you work for an institution in the financial sector?
    by kenshaz
    Take your own advice kenshaz as I've already suggested

    No I don't
  • kenshaz
    Absolute genius. Very entertaining.
    by _Andy_
    To be happy you need to make someone happy.

    • payless
    • By payless 3rd Dec 06, 5:53 PM
    • 6,608 Posts
    • 2,361 Thanks
    payless
    Once again I find myself having to report a thread on the Mortgage board to the abuse team...

    please no more posts
    Any posts on here are for information and discussion purposes only and shouldn't be seen as (financial) advice.
    • MortgageMamma
    • By MortgageMamma 3rd Dec 06, 6:24 PM
    • 6,495 Posts
    • 3,231 Thanks
    MortgageMamma
    GOOD - hopefully the nasty little troll will be blocked from the site, I'm sick to death of being targetted and provoked for doing nothing but good for forum users.
    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.
  • Jewel
    Yes, thank you mortgage mamma, you have always helped me. x
    • payless
    • By payless 3rd Dec 06, 7:16 PM
    • 6,608 Posts
    • 2,361 Thanks
    payless
    MM posting such comments does not help your argument - You know where the land lies on these forums.

    Kenshaz- as mentioned before, perhaps worth looking at OPs other threads!

    As stated I reviewed the threads that OP posted it difficult to understand his reasoning behing this thread, nor those that seem to have jumped on it , but please lets be nice to everyone.

    PLEASE PLEASE let this one rest until "abuse team" get chance to review it
    ----
    Any posts on here are for information and discussion purposes only and shouldn't be seen as (financial) advice.
  • toonfish
    don't know the L&C history on this site, but I do know 2 members of their staff that went elsewhere for their mortgage. Enough said I would think.
  • kenshaz
    <SPAN style="FONT-SIZE: 12pt; COLOR: navy; mso-bidi-font-family: Arial">Step 1: Inform yourself
    Link to Martin's article ,this gives the UK's top brokers.
    Last edited by kenshaz; 04-12-2006 at 10:51 AM.
    To be happy you need to make someone happy.

  • kenshaz
    Obviously, it's impossible for me to review every one of them, so I've concentrated on the four predominant UK-wide mortgage brokers; Charcol, Savills, Chase de Vere Mortgages and London & Country. All are true ‘whole of market’ operators, the difference is in their charges.
    To be happy you need to make someone happy.

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