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Author Topic: Cost of rent in the private rented sector.  (Read 2265 times)

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Field Marshal Dr. Opti

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Re: Cost of rent in the private rented sector.
« Reply #120 on: 17 September 2018, 13:02:57 »

May 2026 is eight years away. Your covered for the first two years at 2.6%, so if you can find an investment that pays more than this (after any tax deductions) then you should invest you money and make a profit. That leaves six years on your mortgage and, I should imagine, you'll be getting to the point where most of your payments will be going towards the capital, as the interest part should be well down by then. Of course, no one knows what's going to happen again after that dreaded brexit thingy.
I, personally, would pay it off and rest easy. But, then again, I have no idea about the rest of your finances. Put it this way...I wish I could afford to pay off my mortgage, which started two years ago as a 15 year term. I will probably have it paid in 11-12 years, so about 9 to go. The 850 a month we pay would, as you say, come in very handy.

 Eleven or twelve years is less than half the normal duration of an average 25 year mortgage. :y

.......and as TB has said thirty or even forty year mortgages are not uncommon now. :o :o :o

This particular mortgage was taken our in 2004 for 22 years..........which could be cut to 14 years if I decide to pay it off. 
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STEMO

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Re: Cost of rent in the private rented sector.
« Reply #121 on: 17 September 2018, 13:04:46 »

I would throw every spare penny at our mortgage, but my circumstances are very different to most. I am at the age where I worry about keeling over and I cannot risk leaving wifey without a bit of a cushion. My life insurance expired when I was 60 and, to get anything worthwhile as a payout, the premiums would be prohibitive. So......soldier on.
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Doctor Gollum

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Re: Cost of rent in the private rented sector.
« Reply #122 on: 17 September 2018, 13:10:31 »

I currently have something of a mortgage dilemma to ponder.

On the 30th September  my 5 year fixed deal of 3.75% comes to an end. This means if I do nothing my mortgage will return to the SVR of 4.84%. :-\

The best my lender will offer me is 2.6% for 2years.

Here's the thing. My mortgage is currently around 820 PCM and finishes in May 2026. However, I've had a rummage down the back of the sofa and I'm fortunate to have enough spare cash to pay this particular mortgage off completely........freeing up 820 extra spending money each month in the process.

My question is would this be a good use of my money?

I have a share portfolio which is hit and miss. Money in the bank and building society which  earn SFA. Savings in the Wellesley went 'tits up' and I lost a significant portion of my capital.

I have several other high risk investments which are looking decidedly shaky. :-\




Do they do a fixed rate for 5 years? I appreciate it won't be 2.6%, but anything less than your current rate is a bonus...

Alternatively, run with the lowest fix rate and aim to get it paid off when the deal ends.
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Field Marshal Dr. Opti

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Re: Cost of rent in the private rented sector.
« Reply #123 on: 17 September 2018, 13:32:27 »

I would throw every spare penny at our mortgage, but my circumstances are very different to most. I am at the age where I worry about keeling over and I cannot risk leaving wifey without a bit of a cushion. My life insurance expired when I was 60 and, to get anything worthwhile as a payout, the premiums would be prohibitive. So......soldier on.

Get wifey to take out 250,000 insurance on your life then devise a plan between you where she slowly poisons you until you are 'no more'

Google undetectable poisons. :y

At least you'll know she will be financially provided for after 'you've gone'. Always nice to know. :)
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aaronjb

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Re: Cost of rent in the private rented sector.
« Reply #124 on: 17 September 2018, 13:35:15 »

Google undetectable poisons. :y

Via an anonymous VPN, using Incognito mode, on someone elses PC. Y'know, just in case.
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Field Marshal Dr. Opti

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Re: Cost of rent in the private rented sector.
« Reply #125 on: 17 September 2018, 13:38:10 »

Google undetectable poisons. :y

Via an anonymous VPN, using Incognito mode, on someone elses PC. Y'know, just in case.

I wonder if Mrs STMO has already put this plan into action without telling the old boy. ::)

Has he been under the weather lately? :D
« Last Edit: 17 September 2018, 13:39:54 by Field Marshal Dr. Opti »
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STEMO

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Re: Cost of rent in the private rented sector.
« Reply #126 on: 17 September 2018, 13:41:59 »

That was my whole point. For her to get 250,000 worth of cover, she'd probably have to pay about ten grand a month.  ;D
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Field Marshal Dr. Opti

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Re: Cost of rent in the private rented sector.
« Reply #127 on: 17 September 2018, 13:47:09 »

That was my whole point. For her to get 250,000 worth of cover, she'd probably have to pay about ten grand a month.  ;D

Then  make sure the poison is 'quick acting' :)
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STEMO

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Re: Cost of rent in the private rented sector.
« Reply #128 on: 17 September 2018, 13:48:35 »

That was my whole point. For her to get 250,000 worth of cover, she'd probably have to pay about ten grand a month.  ;D

Then  make sure the poison is 'quick acting' :)
I'll put it to her when she gets home. To be honest, I could do with a rest.
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Re: Cost of rent in the private rented sector.
« Reply #129 on: 17 September 2018, 13:50:35 »

So could we.  ;D
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Field Marshal Dr. Opti

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Re: Cost of rent in the private rented sector.
« Reply #130 on: 17 September 2018, 13:54:48 »

That was my whole point. For her to get 250,000 worth of cover, she'd probably have to pay about ten grand a month.  ;D

Then  make sure the poison is 'quick acting' :)
I'll put it to her when she gets home. To be honest, I could do with a rest.

Arsenic was a favourite during the Victorian period but can be detected quite easily. I would suggest walking in front of a bus but if they believe suicide is involved the insurance company won't pay out. :)

No.....you and wifey will need to make it look like an accident.  :)
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Field Marshal Dr. Opti

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Re: Cost of rent in the private rented sector.
« Reply #131 on: 17 September 2018, 13:56:37 »

So could we.  ;D

Perhaps he'll pay you to run him over. A win win situation. :y
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Kevin Wood

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Re: Cost of rent in the private rented sector.
« Reply #132 on: 17 September 2018, 14:55:17 »

Salisbury might seem a long way to go from Barnsley for a lunch date with your wife, but... :-X
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Re: Cost of rent in the private rented sector.
« Reply #133 on: 17 September 2018, 15:32:13 »

Perhaps those nice Russian chaps who have a penchant for visiting English towns would like to visit Barnsley.  :y

They could take in a game at Barnsley FC, see the church, visit Wentworth Castle and maybe even pass by Uncle STEMO's house!  :D
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Re: Cost of rent in the private rented sector.
« Reply #134 on: 17 September 2018, 15:39:00 »

Perhaps those nice Russian chaps who have a penchant for visiting English towns would like to visit Barnsley.  :y

They could take in a game at Barnsley FC, see the church, visit Wentworth Castle and maybe even pass by Uncle STEMO's house!  :D
Hmmmmm.......no doorknob. They'd have to post it through the letterbox.  ;D
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