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[Field Marshal Dr. Opti]

Can't imagine paying over £500 a month for a car, never paid that much for a house !

I think they are coming up with 40yr mortgages now, to try to keep monthly repayments under £2k per month

That implies you have to take out a mortgage age 25 or less.

[aaronjb]

That implies you have to take out a mortgage age 25 or less.

Nobody will retire at 65.. Even mine is 68, and I'm more likely to be working until 70 (when my mortgage ends - a 30yr mortgage that began when I was almost 40..).  I fully expect the state pension age to increase over time for those younger than me and, quite possibly, me. Assuming a state pension still exists at all by then.

Most mortgage companies now simply ask "When do you plan to retire?" and you can say anything you like, up to 70.

[Field Marshal Dr. Opti]

That implies you have to take out a mortgage age 25 or less.

Nobody will retire at 65.. Even mine is 68, and I'm more likely to be working until 70 (when my mortgage ends - a 30yr mortgage that began when I was almost 40..).  I fully expect the state pension age to increase over time for those younger than me and, quite possibly, me. Assuming a state pension still exists at all by then.

Most mortgage companies now simply ask "When do you plan to retire?" and you can say anything you like, up to 70.

Okay....smartarse.

This implies you need to take out a mortgage age 28 or less. Back in 1960 first time buyers were in their early twenties. Today, the average first time buyer is 84.

[aaronjb]

Well.. my last mortgage wasn't due to end until I was 72, so I guess somewhere in the early to mid 30s would be the latest you could take a 40 year mortgage out.

[Field Marshal Dr. Opti]

Well.. my last mortgage wasn't due to end until I was 72, so I guess somewhere in the early to mid 30s would be the latest you could take a 40 year mortgage out.

That'll never fly.

Even if people can work longer many will be too old and infirm to hold down a job.

Repossessions will become very popular again.

[STEMO]

When we bought this place two years ago (for a lot less than you chaps further south pay), I was determined that the mortgage would be finished by the time Mo was 60. Her retirement age is 67, but there was no way I was prepared to make her carry on after 60 just because of a mortgage.
So, 15 year mortgage on a £94500 loan (after 10% deposit) comes in at £697 a month, 5 year fixed. We pay £850 at the moment and I'm going to increase that to £1000 soon. She should be mortgage free by the time she is 56-57.

In case you were wondering, I will probably be dead. 

[Field Marshal Dr. Opti]

When we bought this place two years ago (for a lot less than you chaps further south pay), I was determined that the mortgage would be finished by the time Mo was 60. Her retirement age is 67, but there was no way I was prepared to make her carry on after 60 just because of a mortgage.
So, 15 year mortgage on a £94500 loan (after 10% deposit) comes in at £697 a month, 5 year fixed. We pay £850 at the moment and I'm going to increase that to £1000 soon. She should be mortgage free by the time she is 56-57.

In case you were wondering, I will probably be dead.

That will be a real shame.

[STEMO]

When we bought this place two years ago (for a lot less than you chaps further south pay), I was determined that the mortgage would be finished by the time Mo was 60. Her retirement age is 67, but there was no way I was prepared to make her carry on after 60 just because of a mortgage.
So, 15 year mortgage on a £94500 loan (after 10% deposit) comes in at £697 a month, 5 year fixed. We pay £850 at the moment and I'm going to increase that to £1000 soon. She should be mortgage free by the time she is 56-57.

In case you were wondering, I will probably be dead.

That will be a real shame.

Well....I certainly won't care. 

[Field Marshal Dr. Opti]

When we bought this place two years ago (for a lot less than you chaps further south pay), I was determined that the mortgage would be finished by the time Mo was 60. Her retirement age is 67, but there was no way I was prepared to make her carry on after 60 just because of a mortgage.
So, 15 year mortgage on a £94500 loan (after 10% deposit) comes in at £697 a month, 5 year fixed. We pay £850 at the moment and I'm going to increase that to £1000 soon. She should be mortgage free by the time she is 56-57.

In case you were wondering, I will probably be dead. 

Most mortgages offer a 10% overpay facility each year without penalties.

[Field Marshal Dr. Opti]

When we bought this place two years ago (for a lot less than you chaps further south pay), I was determined that the mortgage would be finished by the time Mo was 60. Her retirement age is 67, but there was no way I was prepared to make her carry on after 60 just because of a mortgage.
So, 15 year mortgage on a £94500 loan (after 10% deposit) comes in at £697 a month, 5 year fixed. We pay £850 at the moment and I'm going to increase that to £1000 soon. She should be mortgage free by the time she is 56-57.

In case you were wondering, I will probably be dead.

That will be a real shame.

Well....I certainly won't care. 

You remember when Diana died?

Well.....when you drop off the perch it probably won't be like that.

[STEMO]

When we bought this place two years ago (for a lot less than you chaps further south pay), I was determined that the mortgage would be finished by the time Mo was 60. Her retirement age is 67, but there was no way I was prepared to make her carry on after 60 just because of a mortgage.
So, 15 year mortgage on a £94500 loan (after 10% deposit) comes in at £697 a month, 5 year fixed. We pay £850 at the moment and I'm going to increase that to £1000 soon. She should be mortgage free by the time she is 56-57.

In case you were wondering, I will probably be dead. 

Most mortgages offer a 10% overpay facility each year without penalties.

I know...that's while the rate is fixed. If you stay with them once it reverts to a variable rate, you can pay what you like, without penalty.

[STEMO]

When we bought this place two years ago (for a lot less than you chaps further south pay), I was determined that the mortgage would be finished by the time Mo was 60. Her retirement age is 67, but there was no way I was prepared to make her carry on after 60 just because of a mortgage.
So, 15 year mortgage on a £94500 loan (after 10% deposit) comes in at £697 a month, 5 year fixed. We pay £850 at the moment and I'm going to increase that to £1000 soon. She should be mortgage free by the time she is 56-57.

In case you were wondering, I will probably be dead.

That will be a real shame.

Well....I certainly won't care. 

You remember when Diana died?

Well.....when you drop off the perch it probably won't be like that.

Newcastle were due to play Liverpool on the Saturday afternoon and they cancelled it. I've never really forgiven her for that.

[Field Marshal Dr. Opti]

When we bought this place two years ago (for a lot less than you chaps further south pay), I was determined that the mortgage would be finished by the time Mo was 60. Her retirement age is 67, but there was no way I was prepared to make her carry on after 60 just because of a mortgage.
So, 15 year mortgage on a £94500 loan (after 10% deposit) comes in at £697 a month, 5 year fixed. We pay £850 at the moment and I'm going to increase that to £1000 soon. She should be mortgage free by the time she is 56-57.

In case you were wondering, I will probably be dead.

That will be a real shame.

Well....I certainly won't care. 

You remember when Diana died?

Well.....when you drop off the perch it probably won't be like that.

Newcastle were due to play Liverpool on the Saturday afternoon and they cancelled it. I've never really forgiven her for that.

Maybe the same will happen when you curl your toes up?.... It could happen. Honest it could.

[STEMO]

When we bought this place two years ago (for a lot less than you chaps further south pay), I was determined that the mortgage would be finished by the time Mo was 60. Her retirement age is 67, but there was no way I was prepared to make her carry on after 60 just because of a mortgage.
So, 15 year mortgage on a £94500 loan (after 10% deposit) comes in at £697 a month, 5 year fixed. We pay £850 at the moment and I'm going to increase that to £1000 soon. She should be mortgage free by the time she is 56-57.

In case you were wondering, I will probably be dead.

That will be a real shame.

Well....I certainly won't care. 

You remember when Diana died?

Well.....when you drop off the perch it probably won't be like that.

Newcastle were due to play Liverpool on the Saturday afternoon and they cancelled it. I've never really forgiven her for that.

Maybe the same will happen when you curl your toes up?.... It could happen. Honest it could.

Judging by my family history, I reckon I'll see 85, 90, maybe more. So hard cheese, old boy, you'll be senile long before I pop my clogs. 

[Field Marshal Dr. Opti]

When we bought this place two years ago (for a lot less than you chaps further south pay), I was determined that the mortgage would be finished by the time Mo was 60. Her retirement age is 67, but there was no way I was prepared to make her carry on after 60 just because of a mortgage.
So, 15 year mortgage on a £94500 loan (after 10% deposit) comes in at £697 a month, 5 year fixed. We pay £850 at the moment and I'm going to increase that to £1000 soon. She should be mortgage free by the time she is 56-57.

In case you were wondering, I will probably be dead.

That will be a real shame.

Well....I certainly won't care. 

You remember when Diana died?

Well.....when you drop off the perch it probably won't be like that.

Newcastle were due to play Liverpool on the Saturday afternoon and they cancelled it. I've never really forgiven her for that.

Maybe the same will happen when you curl your toes up?.... It could happen. Honest it could.

Judging by my family history, I reckon I'll see 85, 90, maybe more. So hard cheese, old boy, you'll be senile long before I pop my clogs. 

I reckon you and Albs will end up in the same home for the 'terminally befuddled'.

You may even share a room.

It'll be nice to have some company.