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[Sir Tigger KC]

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.

Maybe they could put the 3 of you old boys in together. 

Then you could all talk your drivel at each other all day, and the rest of us wouldn't have to waste time reading through it all.     

[Field Marshal Dr. Opti]

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.

Maybe they could put the 3 of you old boys in together.

Then you could all talk your drivel at each other all day, and the rest of us wouldn't have to waste time reading through it all.     

That would be hell on Earth.

I'm an articulate educated man. Put me in close proximity with a gobby light-fingered scouser, and a man who thinks bankers walk on water and it will not end well.

You can take my place , Sir Tig.  

[STEMO]

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.

Maybe they could put the 3 of you old boys in together.

Then you could all talk your drivel at each other all day, and the rest of us wouldn't have to waste time reading through it all.     

That would be hell on Earth.

I'm an articulate educated man. Put me in close proximity with a gobby light-fingered scouser, and a man who thinks bankers walk on water and it will not end well.

You can take my place , Sir Tig.

We could get a car share going too. You use mine for a nice day out at the seaside and I rag yours around the streets of Liverpool. 

[Doctor Gollum]

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

A young lad at work (early 30s) has just re-mortgaged to get a better interest rate. He's borrowed £220 000 and his monthly payments are getting on for £900 a month 

I hope for his (& others) that the interest rates don't return to those of the late 80s/early 90s

This is common place now, it's nearly identical to what I'm looking at for the next house. Although I'm surprised his monthly's are not over the £1k, guessing a longer term than what I'm looking at.

Hope he is going fixed rate, I will be, on a 5 year term.

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

I prefer to own out-right, the Zafira is all paid for, as even on PCP the consumables can make it seriously expensive. A neighbour has an A-250 Merc on finance, just had 4 new tyres, so £800 + her usual monthly. Not sure I could cope with that, the monthly yes, but not extras. Plus at the end, you don't actually own it, so have nothing really to show for it.

Rather do a Tesco type loan similar amount, buy car outright, so at least at the end you own it without extra massive payment.

But you still have the loan payment plus all the extras... Still a mugs game...

[Rods2]

If you can make it through the next 20 years, then on average you can expect to live to at least 100 in as good a health as in 20 years time, before you decline rapidly from telemine deplitation, according to an economist that specialises in health and long life. His comment is always that in 20 years time the current healthcare will look like the stone age.

Talking of which where my dad had MS in later life, they have now found the combination of two viruses that trigger it and looking to create a vaccine to stop the most common one, so they can eradicate it.

Changing back to the thread, my mortgage is until I'm 70 and it is now common to extend beyond this.

[aaronjb]

If you can make it through the next 20 years

None of us are making it through the next 20 years. Trump, Putin, Kim.. someone will hit the big red nuke button before then.

So .. might as well enjoy it now!

[Viral_Jim]

Changing back to the thread, my mortgage is until I'm 70 and it is now common to extend beyond this.

Indeed, we have just been through this, particularly painful process. Apparently most lenders now will accept you taking the term to either 78 or 80yrs old, just with some reassurances that that's when you plan to retire  . Above that, they want to see evidence of pension income (quite how you do that 30-35yrs our from your retirement date I do not know).

However, going that long on a mortgage strikes me as false economy, surely in the first 5-7yrs you're paying off so little capital its basically like renting 

[STEMO]

Changing back to the thread, my mortgage is until I'm 70 and it is now common to extend beyond this.

Indeed, we have just been through this, particularly painful process. Apparently most lenders now will accept you taking the term to either 78 or 80yrs old, just with some reassurances that that's when you plan to retire  . Above that, they want to see evidence of pension income (quite how you do that 30-35yrs our from your retirement date I do not know).

However, going that long on a mortgage strikes me as false economy, surely in the first 5-7yrs you're paying off so little capital its basically like renting 

There are several threads on MSE forums about this subject. Paying off the mortgage can become a complete obsession to some people, whereby they're buying cheap tins of beans to save the coppers to put towards their monthly overpayment. I kid you not.

[tunnie]

Changing back to the thread, my mortgage is until I'm 70 and it is now common to extend beyond this.

Indeed, we have just been through this, particularly painful process. Apparently most lenders now will accept you taking the term to either 78 or 80yrs old, just with some reassurances that that's when you plan to retire  . Above that, they want to see evidence of pension income (quite how you do that 30-35yrs our from your retirement date I do not know).

However, going that long on a mortgage strikes me as false economy, surely in the first 5-7yrs you're paying off so little capital its basically like renting 

 

My budget is based on 65 year retirement age, this might explain why some appear to be able to borrow more.

[STEMO]

Changing back to the thread, my mortgage is until I'm 70 and it is now common to extend beyond this.

Indeed, we have just been through this, particularly painful process. Apparently most lenders now will accept you taking the term to either 78 or 80yrs old, just with some reassurances that that's when you plan to retire  . Above that, they want to see evidence of pension income (quite how you do that 30-35yrs our from your retirement date I do not know).

However, going that long on a mortgage strikes me as false economy, surely in the first 5-7yrs you're paying off so little capital its basically like renting 

 

My budget is based on 65 year retirement age, this might explain why some appear to be able to borrow more.

I'm 65 and there is no way I'd still want to be working. I'd be aiming for 60, Mark.

[Field Marshal Dr. Opti]

Changing back to the thread, my mortgage is until I'm 70 and it is now common to extend beyond this.

Indeed, we have just been through this, particularly painful process. Apparently most lenders now will accept you taking the term to either 78 or 80yrs old, just with some reassurances that that's when you plan to retire  . Above that, they want to see evidence of pension income (quite how you do that 30-35yrs our from your retirement date I do not know).

However, going that long on a mortgage strikes me as false economy, surely in the first 5-7yrs you're paying off so little capital its basically like renting 

 

My budget is based on 65 year retirement age, this might explain why some appear to be able to borrow more.

 Still paying a mortgage when 80 years old. Total insanity.

1. A significant proportion will be dead.
2. A significant proportion will be physically unable to continue to work .......or gain employment.
3. A significant proportion will be sitting in the corner dribbling into their cardigan.

Repossessions will go through the roof.

[Viral_Jim]

I'm 65 and there is no way I'd still want to be working. I'd be aiming for 60, Mark.

I'm aiming to pack in my current career at about 60. Not with the intention of doing nothing, but at least doing something different. Mortgages will be set at an appropriate duration to afford this  .

Repossessions will go through the roof.

I would suggest it will be that generation's "mis-selling scandal" much like all those morons poor unfortunates who were sold interest only mortgages and "didn't understand" they needed to make a provision to pay off the capital  .

[tunnie]

I'm 65 and there is no way I'd still want to be working. I'd be aiming for 60, Mark.

I'm aiming to pack in my current career at about 60. Not with the intention of doing nothing, but at least doing something different. Mortgages will be set at an appropriate duration to afford this  .

Repossessions will go through the roof.

I would suggest it will be that generation's "mis-selling scandal" much like all those morons poor unfortunates who were sold interest only mortgages and "didn't understand" they needed to make a provision to pay off the capital  .

I think the view is that most, would look to downsize. Pay more to get the house you need now, but keeping the monthly payments the same, then in ~20 move out of costly school areas.

[Field Marshal Dr. Opti]

Changing back to the thread, my mortgage is until I'm 70 and it is now common to extend beyond this.

Indeed, we have just been through this, particularly painful process. Apparently most lenders now will accept you taking the term to either 78 or 80yrs old, just with some reassurances that that's when you plan to retire . Above that, they want to see evidence of pension income (quite how you do that 30-35yrs our from your retirement date I do not know).

However, going that long on a mortgage strikes me as false economy, surely in the first 5-7yrs you're paying off so little capital its basically like renting 

Very scientific.... :

As KW would say " What can possibly go wrong?"

[aaronjb]

1. A significant proportion will be dead.
2. A significant proportion will be physically unable to continue to work .......or gain employment.
3. A significant proportion will be sitting in the corner dribbling into their cardigan.

Repossessions will go through the roof.

Yes, but..
1. I won't care, I'll be dead.
2. I might care about this one, but as long as I have £5k set aside for a trip to Dignitas, it's all good
3. I won't care, I'll be a cabbage, see point 2.