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Star Letter 04/07/14

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  • 04/07/2014
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Star Letter 04/07/14
Each week Mortgage Solutions picks the best reader contributions from our article comments and letters to the editor.

Each week, we also round-up the best comments, emails and letters to the site and pick one reader contribution as our Star Letter. This week’s award goes to:

How Facebook updates could aid underwriting decisions

What absolute complete and utter rubbish. The problem with lenders today is they seem to ignore the most simplistic of information.

They have very little need to go searching for, or trying to understand, how my giving a status update on Facebook should be viewed in connection with my mortgage requirements.

Hard facts and the past conduct of credit accounts are by far and away the best indication of somebody’s ability to manage their finances. No amount of scouring my Facebook comments or status updates Will tell you anything about my ability to cope with variations in interest rates when the Bank of England decide to start hiking them up.

If ever there was a time for somebody to say let’s go back to basics, it is now. I have no issue as such with MMR, what I do have an issue with is lenders and networks interpretation of what MMR regulations actually mean. As usual the majority of them practice their usual art of overkill.

plasticpig72

You can read more of this week’s best reader comments in our Star Letter Extra column HERE.

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