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Steve Bullman

Banks panicking?

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Just had a letter from Halifax dropping my credit card limit by a whopping 6k. I have a good credit rating, so no real reason for this. Anyone else had similar out of the blue?

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Just had a letter from Halifax dropping my credit card limit by a whopping 6k. I have a good credit rating, so no real reason for this. Anyone else had similar out of the blue?


A few months time and C-19 will be back in full swing. Or the regular flu will be , or both and the world will panic as far more die from the regular flu than C-19 and they won’t know what to do. Full lock-down again. Jobs will have to go as we’re already 330B in the Red over this farce. It’s gonna be a blood bath next year so I can see why the lenders are reigning in their liabilities, even low risk as the uncertainty of the coming year/s is to great.

I was very fortunate to buy my house on Friday. We where down to the wire too. Mortgage offer expires tomorrow and I’m quite sure I’d not get offered another loan due to the uncertainty and also being paid in Kroner.

Interesting times ahead.
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Congrats on the house going through Andy

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7 hours ago, Steve Bullman said:

Just had a letter from Halifax dropping my credit card limit by a whopping 6k. I have a good credit rating, so no real reason for this. Anyone else had similar out of the blue?

Drop BY £6k? I don't think that I have ever been allowed to have a credit card limit higher than £5k!
But yeah, they are getting itchy feet. I occasionally 'tart' my credit card (move to another bank offering a better deal) and I noticed that around April time the long 0% credit cards started to dry-up.


If you look at the stats on new car purchases, the vast majority are bought on finance. Now that is a sh*t storm waiting to happen 😞

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53 minutes ago, little_p said:

Drop BY £6k? I don't think that I have ever been allowed to have a credit card limit higher than £5k!
But yeah, they are getting itchy feet. I occasionally 'tart' my credit card (move to another bank offering a better deal) and I noticed that around April time the long 0% credit cards started to dry-up.


If you look at the stats on new car purchases, the vast majority are bought on finance. Now that is a sh*t storm waiting to happen 😞

Yep, Most are bought on pcp, an affordable way for literally anyone to buy a new car. When I was a youngster you never saw lads in new motors, now they all have them.

 

I have done pcp's for the past 11 years. Current one will be paid off in a few months and I don't plan on changing this time.

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36 minutes ago, Steve Bullman said:

Yep, Most are bought on pcp, an affordable way for literally anyone to buy a new car. When I was a youngster you never saw lads in new motors, now they all have them.

 

I have done pcp's for the past 11 years. Current one will be paid off in a few months and I don't plan on changing this time.

Sure martin lewis (money saving expert forum) Did something on this a while back,Either him or money box on radio 4 and you can appeal if its a problem steve. 

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7 hours ago, trigger_andy said:

 


A few months time and C-19 will be back in full swing. Or the regular flu will be , or both and the world will panic as far more die from the regular flu than C-19 and they won’t know what to do. Full lock-down again. Jobs will have to go as we’re already 330B in the Red over this farce. It’s gonna be a blood bath next year so I can see why the lenders are reigning in their liabilities, even low risk as the uncertainty of the coming year/s is to great.

I was very fortunate to buy my house on Friday. We where down to the wire too. Mortgage offer expires tomorrow and I’m quite sure I’d not get offered another loan due to the uncertainty and also being paid in Kroner.

Interesting times ahead.

 

I dont disagree with what you have said above, but one thing i am seeing some companys are having it very good at the moment and not companys that are linked to anything to do with covid 19, a few tree guys i know are bombed out with work and one guy said he has never been booked up 4 months in addvance since he started 8 yrs ago, as you said covid 19 will return and things will go tits up big time, so i think its make the most of it while you can, then interest rate dropped again a few months back which limits the finance Co,s to what they can charge/make out of you, i got a letter from mortgage co saying my new monthly payments would be £7,38p, dont know how i am going to cope in these uncertain times,

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