Re:Amazon to stop accepting UK Visa credit cards
by cjrp on Wednesday November 17, 2021 @10:38AM
(#29254477)
What was the loan to value though?
Re:Amazon to stop accepting UK Visa credit cards
by j_mo on Thursday November 18, 2021 @11:14AM
(#29267089)
100%
Re:Amazon to stop accepting UK Visa credit cards
by cjrp on Friday November 19, 2021 @09:48AM
(#29277688)
Wait.. they loaned 100% of the property value to someone with not much of a credit history?
Re:Amazon to stop accepting UK Visa credit cards
by j_mo on Friday November 19, 2021 @08:10PM
(#29284647)
Yes, a few banks now offer 95-100% LTV mortgages for first time buyers.
In our case, the bank required a savings account containing a 10% deposit in the name of a family member, which is returned to them with interest after 3 years (unless you fall into arrears). ~50% of that money was our own savings and the rest was from parents savings, which allowed us to get on the property ladder with ~1yr less saving and no cost to our families after the 3yr period.
Only since then have I actually had anything on my credit report (monthly broadband payment, phone contract, monthly car insurance payment because I didn't want to keep paying the whole 3k up front every year after moving out, etc) and despite that the score has remained unchanged.