So... the bank manager rings me offering a ...

**a mortgage ** :open_mouth:

the manager was like, “are you interested in mortgages or life assurance or pension or investments?”

i asked “are they serious about giving people mortgages?”

im sort of shocked that they are back to this reckless behavior, i earn a respectable amount but since im a company director relying on exports to US, i could quite literary be out of job/business in a space of 24 hours, and came close few months ago :frowning:

i politely explained that i dont have a guaranteed job and dont wish to take on any risk,

she kept on going about rates being the lowest ever, and how they have alot of money to lend

as i mentioned in another thread im buying an incomplete house and finish it up via direct labor paying cash as i earn the money, so im surprised they would even offer a mortgage for something as risky as that

not that i want a mortgage, i avoided debt all my life and not gonna fall for it now

btw this is the same bank that rang me august 2008 offering investements in the stockmarkets XX :laughing:
and were pushing me to start a pension (which is would have been worth feck all now)

The next time she rings just politely ask her to wait while you turn on your tape recorder as a security measure. Then see how quick she gets off the line. :smiling_imp:

Yep, this call may be recorded for training purposes…

Always translates to “Is being recorded for legal purposes”

I had a similar experience, albeit peddling lower levels of debt. After 5 months on the scratcher, I eventually found a job (the good news). The bad news - it pays really badly, about 50% of what I earned 6 months ago but I’m happy to get back in the work force.

When I found out I got the job, we booked a last minute sun holiday and paid for it by a credit card. We had funds (savings) available to transer to the CC when we got back from holidays.

I’m just back when the local bank rings offering me an extention of my CC limit (which we never even vaguely come near) - we never use the CC and any balance we do accumulate (small) is paid off monthly. Also wanted to know if I’d like my overdraft limit extended, again we have never used this and in fact I must cancel it.

I am convinced the bank is monitoring my account - they see a very low wage going in and a big CC transaction after months of inactivity. I reminded the nice person on the phone from the bank to please refrain from cointacting me in future peddling debt and that I found unsolicited phone calls of this nature inappropriate. Disgusting behavior.

I got one of those calls a few months back. The tone of the conversation was of it being a one-time only chance to avail of a special deal for insurance/mortgage/investment product.

I thought it was particularly desperate.

It’s still a far cry from those halcyon days last year when the bank manager would phone you up out of the blue and offer you a €56m non-recourse loan.

yelims, sounds to me that your bank manager is trying it on with a recourse loan - don’t be fooled :smiley:

Tell him you don’t want a mortgage but you could do with one of those non recourse loans to by some magic beans

It puts McWilliams drug analogy into some perspective… banks pushing the “credit drug” over the phone.

Just say no!

it’s not unlike pin addiction, or as Bertie Basher put it once “just when I thought I was out, they pull me back in”.

My friend’s dad runs a small business, still doing fairly well even now. Last year he was on to the bank manager (who he’s known for a few years) and she mentions that they’d be willing to to lend him money to buy shares in the bank. He turned it down anyway, not being an idiot. He was on to her a while later, after the share price had collapsed, and he joked that it was a good thing he hadn’t taken her offer. She pretended she didn’t know what he was talking about and quickly moved on.

I find these recorded for training purposes tapes irritating, insurance companies do it, banks etc. It is particularly irritating when you have filled out a claim for to claim health insurance and they then ring you (recorded) and ask loads of questions - obviously trying to find a way not to pay out. Can you say that you don’t want them recorded? What are our rights here?

If you don’t want a mortgage, don’t take it.

Loads of people are complaining about the banks putting the credit squeeze on small businesses, personal accounts etc.

When the opposite happens and they want to lend money… guess what?

People complain.

erm they are offering a mortgage to someone (me) who has a risky income

that sort of thing got this country into a mess few years back when they were chucking mortgages at anyone who could breathe and now cant pay it back

that money could go be spend somewhere more productive instead of being poured into more housing

and at the end of the day thats **my **money being offered as loan+interest, my taxmoney was used to bail out the cunts too :frowning: this is perverse when you think about it

Good point, if they want to lend money ( in the form of mortgages) then let it be on a non-recourse basis so they have to do their homework before chucking money at someone.

No bank official ever put a gun to someone’s head and said “Take out a mortgage with us or I’ll pull the trigger”

When declining people for mortgages in the good old days we got met with verbal abuse and dark threats about “moving my business elsewhere”.

The vast majority of credit applications stacked up at the time of sanction.

If a customer lied about their income (and produced fradulent documents to back it up) then they’re the people at fault.

I take it that you are against NAMA then? That the banks that lent recklessy should be allowed to fail, rather than be bailed out with tax payers money?
After all no-one put a gun to a bankers head and forced them to give huge mortgages to people or lend billions to developers.

Yes I am against NAMA. Despite my job depending on it (to a large extent).

That’s encouraging. It seem to me that a large part of the difficulties in getting through to those who are intent on NAMA is as Upton Sinclair said, “It is difficult to get a man to understand something when his salary depends upon his not understanding it.” But there may be hope yet.

You might have some financial cop on but there are a lot of people who don’t the banks lent money to people for buy to let and must have known were over stretching them selves so they have to take some responsibility for it - it was all well and good until the crash came or when there were more buy to lets than renters.

And I don’t believe for a second that when people showed up with false p60 the banks didn’t know they knew dam well they just didn’t care, sell 100 mortgages this quarter and make my bonus.