The Money Thread...

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Glowy69
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PostRe: The Money Thread...
by Glowy69 » Sun Jul 09, 2017 4:36 pm

Can anyone help with tax or working tax credits? Ill be strawberry floated if i can understand the governments website, all I want to know if what the earnings thresholds are, is the website complicated on purpose??

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bigcheez2k3
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PostRe: The Money Thread...
by bigcheez2k3 » Wed Jul 12, 2017 10:54 am

I think they have a calculator on their website that will work it all out for you.

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I didded a youtube thing Clicky!
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That's not a growth
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PostRe: The Money Thread...
by That's not a growth » Sat Jul 29, 2017 10:51 am

How does credit card debt effect your ability to get a mortgage? I'm considering trying to get a home in a year or so, and at the moment I have a bit of credit card debt since I decided to put my money in current accounts that give interest and put my big spending of the last year on 0% credit cards. I have enough saved up that I could pay all my credit cards off tomorrow if I wanted, but I figured I might as well get as much interest as possible. If I did have to be debt free to have a better chance at a better mortgage rate, how far in advance should I do this?

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Grumpy David
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PostRe: The Money Thread...
by Grumpy David » Sat Jul 29, 2017 11:02 am

That's not a growth wrote:How does credit card debt effect your ability to get a mortgage? I'm considering trying to get a home in a year or so, and at the moment I have a bit of credit card debt since I decided to put my money in current accounts that give interest and put my big spending of the last year on 0% credit cards. I have enough saved up that I could pay all my credit cards off tomorrow if I wanted, but I figured I might as well get as much interest as possible. If I did have to be debt free to have a better chance at a better mortgage rate, how far in advance should I do this?


The balance needs context i.e. Is it 25/50% of your annual income for example?

Natwest can ignore quite large credit card balances without it affecting affordability.

Most lenders will ignore it if you plan to clear it before the mortgage starts.

Other lenders will want your credit report updated to reflect the new lower balance.

I would recommend 2/3 full months before you apply for a decision in principle to bring the debt down.

It's useful to play around with the various calculators to see if it makes any difference whatsoever. Just Google Halifax/Natwest/Santander etc intermediaries and experiment with the figures.

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That's not a growth
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PostRe: The Money Thread...
by That's not a growth » Sat Jul 29, 2017 12:52 pm

It's about 25% of my old annual wage. I just got a 33% pay rise this month, but because they're dicks it's not actually part of my rate but as a "performance bonus". I'm assuming this is so they could potentially take it away when ever they want. They're taking about promoting me and asked how much I wanted to set up this new position, but I'm thinking if they want to do the same again then it's only my base rate that's what the amount I can borrow would be based off?

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Hime
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PostRe: The Money Thread...
by Hime » Sat Jul 29, 2017 1:14 pm

I just got my mortgage with Natwest and would say my girlfriend and I have a total debt of around 25% of our combined wage with loans, credit cards, car on finance, etc. We applied for a whopper of a mortgage and it went through no problem with them after a couple of other banks rejected.

Writing that down makes it looks like I'm crippled with debt but it's not like that at all. I've always found that as long as you can show you're in control of your finances, you won't have a problem.

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Glowy69
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PostRe: The Money Thread...
by Glowy69 » Thu Aug 03, 2017 7:27 pm

Glowy69 wrote:Anyone used the resolver tool for PPI on the moneysavingexpert website?

I had car finance a long time ago and I'm nearly certain the twats would have put it on, along with a small loan. Anyone had any success.

Is there anywhere that documents the accounts you've had pre the 6 years on your credit file?


Got 1500 back from capital one. BoS are investigating another one. :toot:

Fabian Delph is a banana split.

Drumstick wrote:I'll go on record in stating that Villa won't finish inside the top 6 this season.

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That's not a growth
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PostRe: The Money Thread...
by That's not a growth » Sun Sep 03, 2017 7:52 pm

bigcheez2k3 wrote:I have both and have had no problems with either. Nationwide still do, I believe, a 5% regular saver if you are wanting to save any extra after your H2B.

And if you need a referral ahem :shifty:


Can I still take you up on this offer? I'm now ready to open another account and Nationwide is still the best option.

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KingK
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PostRe: The Money Thread...
by KingK » Tue Sep 05, 2017 11:18 pm

Me and my wife have each referred each other to Nationwide to open a single bank a/c each (we already have our jnt a/c there for years). Her Current A/c Switch went through couple of months ago and we each got £100. Today my referral has been submitted for another £100 each.

£400 free money between us for referring an existing customer to open a new current a/c! Crazy!

And the a/c pays 5% for 12 mths up to £2500 and a free overdraft of almost £3k too.

#UnbelievableJeff

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Curls
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PostRe: The Money Thread...
by Curls » Wed Sep 06, 2017 3:31 am

My one year is gonna run out so I may need to find a new account now, it's been good but the interest will drop massively and I've been spoilt by it... Tesco seems like best option now...

Last edited by Curls on Thu Sep 14, 2017 4:02 pm, edited 1 time in total.
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Curls
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PostRe: The Money Thread...
by Curls » Thu Sep 14, 2017 4:01 pm

Just gonna jump on the HSBC advanced for the free £150, better than any interest I've got, then I'll go back to nationwide next year if they're still good.


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