Mortgage Search Over

The frantic search for a mortgage has wound down now. After checking with a number of finance companies and getting flatly refused by most of them it is time to make a decision.

As usual, we’ve gone for the path of least resistance and decided to give up. We may be able to secure a mortgage but because it would be an unconventional loan we think that the cost would be too much.

Our cunning plan is to just wait until we have some more money in the bank. That way we can thumb our noses at the companies that rudely dismissed us this time, in particular my bank.

Can’t Get a Mortgage

Why is it that Bobo and I, with a combined income that exceeds the GDP of some third world countries, can’t get a mortgage?

In the UK I was looking into buying property a few years ago and the banks and building societies were falling all over themselves trying to give me huge piles of filthy lucre. Here in Australia I phoned the bank (who I have been with for over five years now) and they didn’t want to know me.

So I have been ringing around banks, finance companies and mortgage brokers and am getting the same message from all of them – come back when you have ten percent of the purchase price as a deposit. Not to mention the other five percent of the purchase price you will need to pay your conveyancing costs, legal fees and the extortionate amount of stamp duty that the state government requires. The strange thing is that this only applies if the purchase price of the property is over $400,000. That is a little strange to understand, so let us do some sums;

Scenario 1;
House Price: $400,000
Buyer needs Deposit (5%): $20,000 + Fees (5%): $20,000 = $40,000

Scenario 2;
House Price: $405,000
Buyer needs Deposit (10%): $40,000 + Fees (5%): $20,000 = $60,000

This means that for an increase in the property price of $5,000 (or 1.25%) the unsuspecting house buyer needs another $20,000 (or 5%) of the purchase price. The world of finance is a mystery to us all.

Dudded

I have been dudded. Done. Tucked up like a kipper. Defrauded.

I am not happy about it either. I broke out of the office to get some lunch. Feeling in need of a boost I decided some quality junk food was in order. I went to Burger King at the Macquare Centre and order a Bacon Deluxe, some regular fries (well, chips) and some tomato ketchup. I dragged the food back to my desk so that I could continue working whilst topping up my grease levels and opened the brown paper bag. Disaster! No tomato ketchup. Well, I thought to myself, I can deal with that disappointment. I removed the burger from the bag and thought “hmm, this looks a bit small for a bacon deluxe” I then actually bit into the burger and found that it was actually a fish burger! I was outraged, and of course couldn’t go back to complain because that is a fifteen minute round trip. So my only response was to post this entry to my diary.

As far Burger King – bah, humbug.

More Rubbish Web Sites

I thought the great stock market crash of last year had taken them all out, but people are still launching crap web sites.

Take a quick look at DriverSMS. Never mind that we all know the business model won’t work, I’d like you to just look at the actual application and think how many people you know who would actually use it. Doomed, I tell you! Doomed!

The clock is ticking, we will see how long they last.

My friend Ciaran has gone

My friend Ciaran has gone mad. Unlike me he isn’t rushed off his feet at work so he is surfing the web for amusement. Just to prove his lack of marbles I’m going to share some of the URLs he has sent me today with you. You have been warned 😉

http://www.tgu.org.uk/users/swfa/
http://www.modnews.com/
http://www.totalconversions.com
http://www.dlvisions.net/~discworld/
http://www.classicgaming.com/

Proof, if proof was ever needed, that the internet is full of a load of old rubbish.

Another day

Another day, another bunch of problem reports. My job at the moment is an unalloyed joy as I wade through elliptic descriptions of supposed problems that may, or may not, have appeared when users have tested our system. To make matters even more interesting, we are still developing parts of the system as we approach that mythical ‘go live’.

Expect to see me become more manic as we edge closer to having a working system which will go live (whether we like it or not) on the 19th of November.

Meanwhile, my tennis game is getting shot away. This may be connected to work, or it could just be a reflection of my talent.

And finally (as they say on all good news bulletins), I’ve discovered that at least some of my contemporaries from university have done well for themselves since we graduated. Steve Clews is a director of Anisa Consulting. Not bad, for a Cornish boy, I always said he was going to go far 😉