You may have heard me go on about mortgages plenty of times. It is a pet subject of mine. I am a first time buyer, at least I want to be but I appear to have been completely shifted off the market.
Now I am a professional on a reasonable wage but this no longer suffices. I have 2 young children so my partner is not really able to work, so any mortgage application would have to be based on my sole earning powers. I live in a lovely area of South East England where house prices average well over a quarter of a million ( and that is for a two bedroom flat ) so can I get a foot on the housing ladder? The answer is no. I would have to have an impeccable credit record ( I don’t ) and I would have to be earning say 60k a year (not ) and say have a 60k deposit to come close ( also not ).
For those already on the housing ladder who have been tempted into remortgages for holidays and cars and home improvements; the recent increases in interest rates have sent a collective shudder down spines..
Mortgage payment protection may help many people out, but there is only so long that the funds will continue to pay out in these schemes. The banks have allowed massive borrowing to have taken place, based upon rising house prices and the borrowers’ ability to repay these loans. It is highly possible that this may bring about an economic downturn, already being experienced in America, and at least a stop to the massive rises in house prices.
The 21st Century South Sea Bubble may burst, and like the original one some 300 years ago, there will be many casualties if it does.
Now I have been described in certain quarters as a bit lackadaisical, sometimes irresponsible and even just plain stupid.
Now all of these descriptions refer to by financial dealings. Though I say it myself, in nearly all other areas of my life I conduct myself impeccably. I can plan ahead when it comes to cultivation, I can schedule a project and I can assess my nutritional assets when cooking for 20
However, fiscally I am a complete nobrainer. My credit has slipped from bad to worse and then even dropped off most scales.
<<if you are a lender or an investor please take this diatribe with a pinch of salt – I really am a very suitable candidate for a loan, mortgage or investment – honest >>
So, needless to say my credit history has a few default notices and a couple of CCJ’s on it – I was feeling pretty hopeless.
Then I perchanced upon bad credit mortgages from clickngo and, having gone through their mortgage calculator and spoken to their customer services I feel that a bad credit mortgage is not out of my reach. I will become a home owner.
Of course, if I do get the mortgage, I will probably default on it and have my home repossessed, that is in my nature, but, hey, thats life…………
Now I have had my share of car problems of late, I have had blowouts, flat batteries and break ins and my poor wee ford fiesta is still struggling along.
My current insurance company have looked after me quite well but I have been increasingly aware that I should look online for a new motor insurance quote.
The thing is that CIS Insurance appear to better the offers that my existing car insurance provider are offering me. They can come up with both no claim and introductory discounts, all great money saving enticements, especially with the 10% online discount
The internet really is creating an environment where the savvy web user can easily find the best deals, rock on the www.