From: Richard Faulkner 
Newsgroups: uk.finance
Subject: Re: Bankrupt-friendly mortgage companies.
Date: Fri, 18 Jul 2003 21:33:30 +0100

In article <554ghv0e0suf2heprgt1qkid76v810f00l@4ax.com>, to.reply.pls.se
e.sig@end.of.message.com writes
>On Fri, 18 Jul 2003 12:00:00 +0100, Richard Faulkner
> wrote:
>
>|In article , Doug Ramage
>| writes
>|>
>|>"Richard Faulkner"  wrote in message
>|>news:Am6rVFAO6zF$EwfQ@estate.demon.co.uk...
>|>> In article <83gdhvss6dc8ked7c40iim3e2eqptseju8@4ax.com>, to.reply.pls.se
>|>> e.sig@end.of.message.com writes
>|>> >On Thu, 17 Jul 2003 12:06:28 +0100, Daytona
>|>> > wrote:
>|>> >
>|>> >|On Thu, 17 Jul 2003 11:17:03 +0100,
>|>to.reply.pls.see.sig@end.of.message.com
>|>> >|wrote:
>|>> >|
>|>> >|>Thanks for the help everyone. I've just had a good quote through
>|>> >|>and I'm looking into it...
>|>> >|
>|>> >|Who from ?
>|>> >
>|>> >Well, 2 companies actually, (2nd one just this afternoon).
>|>> >Compass Finance and Premier Mortgage Management. Both offering
>|>> >around 5.7% APR.
>|>> >
>|>>
>|>> Are these the actual lenders, or merely brokers? It will be interesting
>|>> to see what hoops you have to jump through to get the loan and,
>|>> possibly, at which hoop you could be rejected.
>|>>
>|>> Are they asking for money up front before they process the loan
>|>> application? How large a fee do they get when the loan is formally
>|>> offered?
>|>> --
>|>> Richard Faulkner
>|>
>|>Don't forget the max fee for a loan which is *not* taken up is £5. Any
>|>amounts already paid above £5 have to be refunded.
>|>--
>|>Doug Ramage
>|>
>|>
>|
>|Hence the question. I deal with lots of people who pay up front fees to
>|various brokers, and who believe that the money is "spent" whether they
>|are granted or take up the loan, or not.
>|
>|The ex bankrupt will be incredibly vulnerable in this respect....
>
>I don't feel TOO vulnerable   ;-)
>
>In both cases, the only fees payable up-front is the £100
>refundable booking fee, and the valuation fee. I have applied on
>a self-declared-income basis, so, - all in all, I don't think
>there are huge up-front risks. (I want to borrow 80% of value
>BTW).
>
>H.
>
>
Sounds OK so far. I am just conscious that some people may accept
anything they are told - particularly if they have been turned down a
few times.


-- 
Richard Faulkner