Will you ever get a mortgage again?

[Angry Cat]

http://www.walletpop.co.uk/2010/10/0...ortgage-again/

[Quote]:
The problem is the 'credit scoring criteria'. This has already been toughened over the past six months, and the lenders have signaled that they are going to make them even tougher over the next three.

Credit scoring involves a series of questions from your lender, including whether or not you have ever fallen behind on credit card payments, whether you have a student loan outstanding, and the number of years you have lived in your current home.[Quote]

This matter was also discussed on the BBC Breakfast television show this morning

[Differentjudge]

Re: Will you ever get a mortgage again?

It will definitely be harder in the future

Having said that , there wil eventually become a time when the sub prime lenders come back into the market.

They too will have criteria to be met , but they will look for large equity and high rates.

[Zazen.Warrior]

Re: Will you ever get a mortgage again?

I would have been repossessed twice over, with my redundancy pattern, if I had ever gone down the mortgage route - it was a decision I made (the right one as it turned out) to never 'commit' in this way.

However I will inherit a house one day - and may that day remain in the distant future - but I must admit this has consoled me once or twice when financial panic has set in.

[messimoo]

Re: Will you ever get a mortgage again?

all I can say is Thank goodness when this house has been finalised (next few weeks) I will never have to have a mortgage ever again I am lucky enough to have enough equity to buy a new place outright as we are downsizing If we had not had this house on the market I am pretty sure that we would have been repoed by now

[leclerc]

Re: Will you ever get a mortgage again?

I can afford a caravan on the mortgage calculator, lol!!!

[jax007]

Re: Will you ever get a mortgage again?

I can afford a caravan on the mortgage calculator, lol!!!

And some of those need a mortgage judging by the price of them! LOL!