that happens mostly on the skiing threads
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EddieM
Oh look, an update...
Coronavirus: New mortgage holiday should affect credit record, says Nationwide boss
"A borrower's credit file should be marked if they take a further mortgage holiday, the Nationwide has said.
Lenders look at somebody's credit rating when deciding whether to agree to a fresh loan or contract and the interest rate they will charge.
Joe Garner, chief executive of the Nationwide Building Society, said an extension to the mortgage break may signal a borrower was "struggling".
Guess I'm not the 'fantasist' after all...
Shall I provide the eggs?
From the link
"
Mortgage holidays started in March, allowing people to defer payments without affecting their credit rating.
That respite from payments would end for the first applicants in June, but the Treasury and regulators have said that those who need to will be permitted to defer for another three months. No decision has yet been made on whether this will be reflected on a credit reference used by other lenders."
Ah, so those who originally claimed that the scheme wouldn't affect credit ratings at all now claim it's time limited
In the same way as the wage scheme was backdated, so will the credit ratings in future!
But hey, those gullible people are the same ones that believe what the unicorns tell them!
In the same way as the wage scheme was backdated, so will the credit ratings in future!
But hey, those gullible people are the same ones that believe what the unicorns tell them!
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Ah, so those who originally claimed that the scheme wouldn't affect credit ratings at all now claim it's time limited
In the same way as the wage scheme was backdated, so will the credit ratings in future!
But hey, those gullible people are the same ones that believe what the unicorns tell them!
Fried or scrambled?
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sodthisforfun
You talking about his brain?!
Would your definition of 'gullible people' be those that have borrowed money to buy a house and have hit on hard times through no fault of their own due to the virus? So what if it does affect your credit rating in the future - it’s the present that counts and what’s the alternative if you can’t afford your mortgage payments - what would happen to your credit rating if you couldn’t pay your mortgage?Ah, so those who originally claimed that the scheme wouldn't affect credit ratings at all now claim it's time limited
In the same way as the wage scheme was backdated, so will the credit ratings in future!
But hey, those gullible people are the same ones that believe what the unicorns tell them!
There was over two million children living in poverty before any lockdown, many more now.
Nope
It's referring to the gullible people who swallow the lie that taking a mortgage payment holiday won't affect your credit rating...
Do you always need the bleeding obvious pointed out to you
Wrong. It may affect your credit rating if you take out a FURTHER mortgage payment holiday. Some people obviously don’t even bother to read past the headlines of the links they quote.
Looks like the yolks on you.
Talking of credit ratings, I just got mine through. Going to have to cut back on my borrowing I think and pay off those jeans and trainers I bought off of the catalogue.
Is your credit rating generally considered poor if you have no debts at all?
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EddieM
Yep, can be, as your credit rating is a measure of how you are able to manage credit (debt)
Mine will be poo then. I (personally) don't have a credit card. The missus uses one to pay for items that benefit from the back-up of credit card security.
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EddieM
Could well be. Depends on your circumstances of course, but if you want you can take steps to boost it up. Takes a while though. When I got divorced mine went through the floor (then started excavating). Now it's back to excellent. You do have to have a CC to get the best scores, you also have to use it occasionally (pay it off of course, every month) all a bit of a game really. But if you have no need then not important, but then you never know.
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