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FRESH START MORTGAGE YORKSHIRE BUILDING SOCIETY

  • PETAL
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05 Oct 07 #4350 by PETAL
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Dont try new mortgae with ybs went to see them. Basically they give you 6 months lower rate then increase it to silly money after that so you cant pay.again!!!!!!!!!!!!

The woman even admitted to me it was a way of getting new clients in the door but was not really helpful as they get the cash back and then some after 6 months.

Plus you think a company advertising a divorce mg would expect financial issues. The answer is not.

  • TMax
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05 Oct 07 #4352 by TMax
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Hi Petal

May hope you dont mind my entering this into your post, its not about divorce its free monetary advice and bargain finder, this is the man who has been on TV and the first to start the bank charges fight, still does this for free others jumped on band wagon and charge for the same advice. also some very good tips for freebies ie meals/ make up scent. I wont go on but to say I have saved a few pounds in looking into the advice that emailed to you weekly and has a strong membership that also enters subjects of where to get things. If this works :-)you enter your email into here and they will send you the next issue of the advice and posts www.moneysavingexpert.com/site/money-tips-email-faqs

  • Sera
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05 Oct 07 #4358 by Sera
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Petal,

It's great that you share your experience here, but I think it's worth a complaint to the divorce magazine, and possibly to their head office.

Banks and Building societys are supposed to stick to a very strict code-of-conduct when advising clients.

Were you warned of this rate rise after six months? (I know they sometimes just hand you so much legal gumph that you may not have even read it all. (The same as the small-print on the TV ads)...

  • JLGsDad
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05 Oct 07 #4359 by JLGsDad
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All mortgage providers have to follow Financial Services Authority (FSA) rules, which cover anything from accounting through to Treating Customers Fairly (TCF). TCF means there are no surprises - the provider has to be upfront (if they're not, they get hit by whopping fines) so chances of being 'conned' are very small.

Whether people listen or not is another matter.

On these mortgages, they're like all the deals - you get something now but pay for it later.
low start = high finish
cash back = higher rate of interest
fixed rate = you might win, you might lose, but you'll generally pay a bit more than expected now but you know it can't go up
Or THERE IS NO SUCH THING AS A FREE LUNCH :woohoo:

Nobody offers anything that gives divorced people a better deal unless they are desparate or an adviser can con the provider or financier (as caused the problem in the US with 'sub-prime' mortgages) other than the credit they will give you for any maintenance received.

My advice is ask what is best for you - house prices are so high now that renting is a better option according to many studies - then if you want a mortgage, shop around. See what the internet can give you.

Good luck.

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05 Oct 07 #4363 by Sera
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Expanding on your comment re: Divorced people getting a rough deal:

I've been a safe driver, 18 yrs - NO CLAIMS!!!!

My Car Insurance went down once I got married, and put husband on as second driver... now here's the sting:

He's got points, speeding tix, etc; after 18 yrs, I've not even paid a Parking fine!!!! After divorce my cheaper insurance will revert back to being higher?

Why do insurance companies charge more for being single???

Maybe I'm a calmer driver when I'm getting laid!?

:side:

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05 Oct 07 #4364 by TMax
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Ooooo hehehe pick me of the floor LMAO, very good petal

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05 Oct 07 #4365 by JLGsDad
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Sera,
There's some mistake somewhere. Single is normally cheaper, multiple driver only cheaper where other driver is main user and has lower rating (older, better claims etc).
If your insurance went down on marriage, it is probably because something else changed such as you moved to a cheaper area or your age moved into a new bracket.
If your insurance has gone up, either your circumstances have changed (e.g. moved to dodgy area), you've changed at same time as premium rates have gone up or they've made a mistake.
Whichever way, shop around for a better deal.

As an aside, there's lots of data to show connection between interesting factors and accident rates & cost of repair. For example, drivers of red cars have more frequent and more expensive accidents than other cars (be a low-accident driver, get a beige car). Mile for mile, men have fewer but more expensive accidents than women, but women get lower premiums as they drive fewer miles. Some professions are very expensive (e.g. actor) and some are cheap (e.g. accountant). Keep off the roads on Friday afternoon & evening (twice the accident rate of other afternoons and evenings). Married men are cheaper than single men (civilising effect of marriage, slow down when kids in car etc) but not so much effect for women (married women more distracted).
Problem is that most factors cannot be used in practice; eg. if charge more for red car, people would start driving silver cars, and what is 'red' anyway?

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