Boat Finance Bank Theft

[aod]

Accepting that the high st banks and particulaly Nat West are secret training camps for financial terrorists hell bent on stealing what they can from the common man does anyone have any recommendations for marine morgages?

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[mikewilkes]

One thought that has crossed my mind with these robber institutions is to collect all the offers of loans and credit cards together, sell your house, put all these cards and loans to the hilt then buy the boat and sail away with a finger firmly in the air. I think it may be classed a poetic justice to these places. Course the polis may just not agree with me!!!

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[bedouin]

Best advice is "don't" unless you have to. Cheapest money you can get is a mortgage on your house (if you have one) - that is a much better way of raising money than a "marine mortgage". If you are a home owner then many companies will offer as good rates on unsecured personal loans as they will on a marine mortgage! (or at least that was true a couple of years ago - I haven't checked recently).

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[david_e]

Re: one finger

If you get your story well organised and declare yourself bankrupt just before you leave, the polis will be less interested.

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[extravert]

Or even a mortgage extention secured against the increased value of your house, given that most house prices have risen recently. Much cheaper than a marine mortgage, approx 4.75% from Egg at the moment. Saves the hassle and expense of part 1 registration as well that is normally required if you want a marine mortgage on a boat.

<hr width=100% size=1>Adventures of the <A target="_blank" HREF=http://www.xrayted.fsnet.co.uk>Teddy Bear Boat</A>

 

[mikewilkes]

Re: one finger

Dont leave it there. Splill the beans on how to get your own back on banks etc!!!

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[david_e]

Re: one finger

Sorry can't help on this one Mike, off the cuff remark, not something I have researched. Did hear recently of a friend's friend who has a few problems and did all his research on the net. He made himself unemployed and then declared himself bankrupt, still is, and seems to be doing very well. Says the net taught himn all the tricks that professionals won't.

Best way of making money I know of is; Printing it.

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[Peppermint]

Tom\'s theory of finance

If you give your money to a man in a suit he will stitch you up.

If you borrow money from a man in a suit he will stich you up.

Shakespear was right.

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[lauradee]

but if you default

they take your house, if you default on marine mortgage they take your boat but leave your house!!
???

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[ballena]

Give Lombard at Southampton a call, they are very helpful and efficient.

Plus they invite you to sup free champagne in their lounge at the boatshows.



<hr width=100% size=1>V8's rule!

 

[Sybarite]

Re: one finger

Don't know what the law is there but organizing your bankruptcy in France means becoming a guest of the state for quite some time.

John

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[pvb]

There\'s no such thing as...

There's no such thing as "free champagne". It's paid for by higher finance charges.

Cheapest route is re-mortgaging the house - there are loads of lenders around who'll happily hurl money at you.

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[Ohdrat]

Re: There\'s no such thing as...

And their suites too

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[Gunfleet]

Re: one finger

If you make one payment off each loan then the polis won't be able to prove an intention to 'permanently deprive' and will lose all interest in the matter.

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