http://www.trumpo.com/blog/business/the-european-central-bank-must-be-reading-the-trumpo-blog/ Advice in good times and bad Tue, 06 Jan 2009 21:16:46 +0000 http://wordpress.org/?v=2.3 http://www.trumpo.com/blog/business/the-european-central-bank-must-be-reading-the-trumpo-blog/#comment-5 Tankie Fri, 21 Dec 2007 09:25:58 +0000 http://www.trumpo.com/blog/business/the-european-central-bank-must-be-reading-the-trumpo-blog/#comment-5 Oh come on Delboy, in your ivory tower over there! You are missing the point. In this day of Big brother and credit scoring it is very easy to become "Sub Prime". All it takes is a late credit card repayment ot going s few pounds over your overdraft limit. As a mortgage broker I see hundreds of clients who are classed as "sub prime" and then they get hit with horrific interest rates for borrowing. Too many companies now rely on automated credit ratings. This specifically hits the 10 Milllion self employed wgo are often paid late and then its the domino effect! Have some empathy for those who are trying to make a living and these people who then find themselves having to pay over the odds for borrowing. So Trumpo's view is on the money!! Oh come on Delboy, in your ivory tower over there! You are missing the point. In this day of Big brother and credit scoring it is very easy to become “Sub Prime”. All it takes is a late credit card repayment ot going s few pounds over your overdraft limit. As a mortgage broker I see hundreds of clients who are classed as “sub prime” and then they get hit with horrific interest rates for borrowing. Too many companies now rely on automated credit ratings. This specifically hits the 10 Milllion self employed wgo are often paid late and then its the domino effect! Have some empathy for those who are trying to make a living and these people who then find themselves having to pay over the odds for borrowing. So Trumpo’s view is on the money!!

]]> http://www.trumpo.com/blog/business/the-european-central-bank-must-be-reading-the-trumpo-blog/#comment-4 DelBoy Thu, 20 Dec 2007 13:36:39 +0000 http://www.trumpo.com/blog/business/the-european-central-bank-must-be-reading-the-trumpo-blog/#comment-4 I thought this was how supply & demand works. There is no right to a mortgage or a loan. Borrowers are not penalised if they pay a higher market rate any more than they are penalised by the higher price of buying a Porsche. It's always been the case that lenders lend to those that don't need to borrow. It's always been a fact that a good credit history will attract better rates. So what's the problem? I thought this was how supply & demand works. There is no right to a mortgage or a loan. Borrowers are not penalised if they pay a higher market rate any more than they are penalised by the higher price of buying a Porsche.
It’s always been the case that lenders lend to those that don’t need to borrow.
It’s always been a fact that a good credit history will attract better rates.
So what’s the problem?

]]> http://www.trumpo.com/blog/business/the-european-central-bank-must-be-reading-the-trumpo-blog/#comment-3 r bu Thu, 20 Dec 2007 13:31:20 +0000 http://www.trumpo.com/blog/business/the-european-central-bank-must-be-reading-the-trumpo-blog/#comment-3 Spot on, a point I've been making on housepricecrash.com Spot on, a point I’ve been making on housepricecrash.com

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