My suggestion is to go for a Pre-Paid Card and put on it some cash for ermergencies. Don't ever use a credit card again. Glad your existing lender is being positive and good luck from me too.
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Will look into the pre-paid cards and see if I can't regularly top one upso that overtime I save a resonable emergency fund.
Spoke to the Mortgage manager today and she advised that my returned application is 'perfect' and that it all 'looks affordable'. It has been sent away now to their approvals unit and I should hear back Monday afternoon - this is going to be a long weekend!
Good luck Neil - Monday will be here before you know it!
Let us know when you hear anything.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Do I detect that the mortgage market is opening up again?
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
I'm not sure about that, was supposed to hear from HSBC yesterday afternoon - had been on edge all weekend. heard nothing. Hopefully I'll hear today about the mortgage - otherwise its back to square one.
It is just the processing bit and sometimes they get behind - don't worry I am sure it will come right.
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
Hope you hear today from HSBC - why not give them a call if you do not here this morning - it isn't unreasonable to expect a response when they say they are going to respond !
Good luck
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
I hope you hear today Neil, got everything crossed for you.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Well its been a stange week full of good and bad news. First the good - HSBC have agreed to the Mortgage in principle albeit with a couple of caveats about further borrowing etc (which are fine because I don't want to borrow anything ever again!).
That said, they now want to get the house valued - which is normal except they told me on several occasions that the valuation they had done a year ago when I purchased the property was sufficient and it would need to be re-valued so whay the change of heart, and most importantly can they do this? They certainly shouldn't be able to charge me because they did not make me aware of the need to do it and the costs associated with it. Not that it matters because it was a 65% LTV and goes up to 75% LTV with new motgage so even if the value has come down there should still be enough equity to swallow the reduction (although this may affect the rate they're willing to lend at).
Now for the bad, I've got my Energy bill in from N Power. I have dual fuel with them and have been paying £50 per month. you only get a statement twice a year so you have no idea for a long period of time how much you're spending. My bill is huge, and despite paying £50 I'm still left owing them £1100 for gas and electric - with the lions share surprisingly being electric. They've increased the monthly DD accordingly to a shockingly high level which has made this mortgage all the more important because any residual disposable income I had (small as it was) has now gone and my outgoings are higher than my income.
Still hopefully with the re-mortgage approved in principle and havig passed the affordability test it should all be sorted in the next week or so.
Keeping the fingers crossed but still so much to worru about!
Good news about mortgage and LTV but bad news about your energy costs. You should try a comparative energy site to see if you can get a cheaper provider.
*Sorry David, you can't point people in that direction!*
Last edited by David Mond on Fri Feb 13, 2009 10:30 am, edited 1 time in total.
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
sorry but it would of been of help - why don't you suggest to the poster then?
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
