Gutted really....
We have seen many houses, and I've posted on here at how cheap they are.
Sadly, although I could buy 2 really decent houses for the price of our UK home and my mortgage for both houses would be cheaper... I cannot.
The Canadian banks refuse to acknowledge income abroad, so the UK rent we get is not seen as covering our mortgage outgoings - meaning that they think I have to spend $1800 a month to pay the mortgage and have denied us.
The only thing we can do is get a credit history here, so that they will not see that we have a house in the UK!
It's really annoying because I can afford it. In fact due to a new decent house being more efficient with heat etc. + my mortgage being less than my rent, we'd be spending less than we are now.
We nearly just bought a house, but we were screwed 6 ways from Sunday.!!!
1) being the reason I just mentioned
2) being that the housing market in the UK is so stupid we'd actually owe money if we sold
3) we cannot get out of our mortgage by selling int he UK without paying a huge redemption penalty - this would not have been an issue if we moved to another house in the UK, as we'd have transferred it, but they won't transfer it to a house in Canada and demand settlement
4) as mentioned our credit history would show the mortgage but our rental income would not be considered
5) we'd need 20% about $30,000 for a deposit!!!.
The 6th reason is the most annoying one, and whilst Dave, who is the biggest British patriot of all time, pointed out that Canada has buggered us on the 5 counts above... true... it's the UK that put the final nail in the coffin.
In particular 1 bitch who works for TSB.
We managed to find a deal for newcomers to Canada that would avoid all of the 5 blockers above, a form needed to be stamped by the TSB to basically authenticate that funds existed in an account - vouching for our credit.
Because that stupid cow had never seen the form (duh!... it's from a Canadian bank!!) She confused matters, stating things like "it's a money laundering scam" and "terrorism!!!", and refused to stamp it!. After 3 days of phoning the bank, phoning her and other parties involved, trying to find other ways to provide evidence or miraculously come up with extra funds we lost the house we had an offer on.
I was livid!
This is a rather tame post, because it all happened a couple of weeks ago and it's been a very frustrating and stressful time. I guess I'm calmer now, but something just reminded me and I decided to rant about that stupid excuse for a cow!
We had an offer in on a 4 bedroom house, with a pool for a pathetic £82000!!! And it had been accepted, pending approval for a mortgage. The closing date was the 15th September, so we'd have been moving in next week, giving just enough time to set up a nursery ready for Kath to give birth and bring home the n00bie.
Absolutely gutting that this idiot woman did this just because she didn't understand a form!!
It's really getting me annoyed, my Dad tried to give us some money the other day and the TSB gave him hassle, telling him it's "money laundering"... is it coz he is black?
I tried placing an advert on the UK Auto Trader website, from Canada and it's all denied due to "money laundering" and "terrorist activities".
I had money in my account for the house deposit, and the bank 'needed' to track it's history for at least 30 days to make sure it wasn't "money laundering" or "terrorist activities"!! I'd only had the money in there for 2 days, transferred from the UK, which is why I needed the pathetic measly jobs worth bint to authenticate it's UK origins and prove it was not "money laundering" - she wouldn't, nuff said!
It's all due to 9-11. A friend of mine explained the whole thing to me last night over a pnt of Stella after we went to see Final Destination 3D (which is awesome by the way). You see the Bush administration conspired to blow up the twin towers, thereby instilling panic into the US population fueling the fear of terrorism. They invaded Afganisthan looking for a ghost which just added fuel to the fire. Finally the US citizens were more than happy for Bush to head into Iraq allowing him to take over the worlds oil. The plan worked perfectly. But any war creates resentment, a president can't stay in power when so many people hate him, so they came up with another 5 year plan to run the economy into the ground. This would ruin Bush even in the eyes of the rednecks who worshipped him. They ruined the economy so much, neglected to act on hurricane Katrina and let thier 'boys' rot in Iraq that everybody was looking for a hero. Which is where the greatest jewel thief in the world, Obama, stepped in. In on it from the start, Obama comes to power to set things right and everyone will do whatever he suggests believing him to be the 'saviour'. After stealing the Hope Diamond and distracting everybodys attention with stimulus packages and health care reform, Obama intends to complete what the Bush administration set in motion on 9-11 and fulfil his destiny as the Anti-Christ initiating Armageddon during the 2012 alignment.
So.... due to that... I can't buy a bloody house!!
Oh dear....
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2 comments:
I love it when you rant Raj.
We've had the similar accusations of being international money laundering terrorists... try to transfer money from UK account to FI account online... OH NO YOUR ISP IS SOUTH AMERICAN (OR NEAR ENOUGH TO MAKE US SHIT OUR PANTS) SO YOU MUST BE COLUMBIAN DRUG LORDS AND LAUNDERING MONEY.
Try to buy something on ebayUK...
OH NO YOU ARE VERY CLOSE TO SOUTH AMERICA, YOU MUST BE INTERNATIONAL DRUG SMUGGLERS LAUNDERING MONEY...
it goes on and on.
Still I'm glad to be out of the UK, and shall be wishing TSB ill on your behalf ;)
The house buying system here is strange, basically houses rarely come on the market, so you have to buy a plot of land that you could build on, then get permission then build your house. Given that all the materials need to be imported, the initial out lay for land, which is cheap, then becomes a huge expense in building. The most popular choice is for a Swedish flat pack house, which make everything look picture postcard pretty and IKEAish. Of course you can only do this if you are an FI Resident and you have to have been here for ages to even apply for residency. And from what I understand, there is no way of getting credit, so you have to pay for it all upfront.
We'll not be buying/building out own home in a rush then i guess... not that we could sell our place in the UK for massive redemption fees like you. Bastards.
Raj your a terrorist!!! You left the UK to go to a foriegn land, what other reason could you have for leaving this wonderful country?
Seriously thou' these barriers are all artifical and put in the way just to irriate and annoy. The TSB woman proberbly feels quite important she manages to screw up y our life.
If you were a criminal / drug dealer or terrorist I'm sure you would not be trying to transfer money using offical channels. (especaily not the TSB).
Still could be worse, you could still be in this country where all parents have to be subjected to a CBI check if they a give lift to other children. (otherwise it's a £5k fine).
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