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[TheBoy]

The two main mistakes I made with mortgage(s)

1.....Endowment mortgage.
2.....Interest only mortgage.

Avoid these with a low rate repayment mortgage and it works out cheaper than renting, which I did for 6 years and ended up with SFA.

All good now and for some time.

I had one of those "Low Cost" endowments for my first house, back when interest rates were 15%.

It never reached it's intended target, and was ultimately around 10-15% short.  However, interest rates also plummeted in that time, and despite being the stooped kid from the local comp, even I could see that I could, with the lower interest rates, pay off the loan much quicker by not being greedy, and reducing the loan amount by not adjusting the interest payments.

So, all in all, I found it a great experience. So much so, I never bothered with those lawyers milking a living off them being mis-sold.

[Field Marshal Dr. Opti]

The two main mistakes I made with mortgage(s)

1.....Endowment mortgage.
2.....Interest only mortgage.

Avoid these with a low rate repayment mortgage and it works out cheaper than renting, which I did for 6 years and ended up with SFA.

All good now and for some time.

I had one of those "Low Cost" endowments for my first house, back when interest rates were 15%.

It never reached it's intended target, and was ultimately around 10-15% short.  However, interest rates also plummeted in that time, and despite being the stooped kid from the local comp, even I could see that I could, with the lower interest rates, pay off the loan much quicker by not being greedy, and reducing the loan amount by not adjusting the interest payments.

So, all in all, I found it a great experience. So much so, I never bothered with those lawyers milking a living off them being mis-sold.

Similar for me....only worse.

£73 a month over 25 years with wise prudent investment was supposed to pay back £41000.....some hope.

After  ten years the policy was worth about £6000  (which was way less than I had put in) and was evidence the policy never going to make the required amount.

In a letter GRE  explained the cost of  professionally managing the policy needed to be taken into consideration.

Total clusterf*uck.  

[Mr Skrunts]

Stupid eh!  I will class that as a compliment.

Before yesterday I had one credit card
£1000 payment due on 29th
the month after it will be £300 + what ever I use the card for till 4th Dec

The news from Amazon I opted for a Santander CC 
£2700 limit and the offer of tranfer to 0% balance for 18 months . . . . refused the option.
I think I get a % back on all purchases and no charges to run the card.
(If I use it) the balance will be paid in full each month.

On the OOF we talked about Amazon, as you know I now have one.

The reasons I now have 3 is I have more options but at this point in time I have no intensions of using the new ones

I have spent a fortune on Amazon especially through lockdown, but with the change in charges I decided to stop shopping for a while at leat.

I am single
No housing overheads
own 3 cars
and the women in my life dont cost me a penny
I have savings

I certainly dont need the Credit Cards, but use them as they carry Insrance protection.

[ronnyd]

I don't have a credit card, am i normal? 

[Doctor Gollum]

I've been creditcardless all week, and it didn't feel right.  In my case, it was because Amazon were being knobjockeys, meaning I had to get the card stopped the day before I went away.

I too pay off monthly.  If I found myself in the examples DG raised earlier, I would look to other options before getting into debt with CC's, as I'm not that stupid. I accept that many people are, though.  Those same people have effectively paid for my "free banking" all my life.

That's my point... What happens if you and the Really Lucky Woman both get made redundant or have a LTS event? Those sensible, well managed cards then become liabilities. From a position of comfort/security it's easy to be laissez faire about them... But many of the people up to their eyes in debt, especially credit card debt, were once where you are now.

[Field Marshal Dr. Opti]

Stupid eh!  I will class that as a compliment.

Before yesterday I had one credit card
£1000 payment due on 29th
the month after it will be £300 + what ever I use the card for till 4th Dec

The news from Amazon I opted for a Santander CC 
£2700 limit and the offer of tranfer to 0% balance for 18 months . . . . refused the option.
I think I get a % back on all purchases and no charges to run the card.
(If I use it) the balance will be paid in full each month.

On the OOF we talked about Amazon, as you know I now have one.

The reasons I now have 3 is I have more options but at this point in time I have no intensions of using the new ones

I have spent a fortune on Amazon especially through lockdown, but with the change in charges I decided to stop shopping for a while at leat.

I am single
No housing overheads
own 3 cars
and the women in my life dont cost me a penny
I have savings

I certainly dont need the Credit Cards, but use them as they carry Insrance protection.

Is that woman or women, Skruntie?

If it is women then you are a randy old sod.

[Doctor Gollum]

I don't have a credit card, am i normal? 

If can answer 'no' to all the following:

Do you have... A Faceachebook account? An Amazon account? A credit card? An over draft?

Then you can join me in my identity box... 

[ronnyd]

I don't have a credit card, am i normal? 

If can answer 'no' to all the following:

Do you have... A Faceachebook account? An Amazon account? A credit card? An over draft?

Then you can join me in my identity box... 

None of the above. 

[Doctor Gollum]

Excellent, you're allowed in

[Mr Skrunts]

Stupid eh!  I will class that as a compliment.

Before yesterday I had one credit card
£1000 payment due on 29th
the month after it will be £300 + what ever I use the card for till 4th Dec

The news from Amazon I opted for a Santander CC 
£2700 limit and the offer of tranfer to 0% balance for 18 months . . . . refused the option.
I think I get a % back on all purchases and no charges to run the card.
(If I use it) the balance will be paid in full each month.

On the OOF we talked about Amazon, as you know I now have one.

The reasons I now have 3 is I have more options but at this point in time I have no intensions of using the new ones

I have spent a fortune on Amazon especially through lockdown, but with the change in charges I decided to stop shopping for a while at leat.

I am single
No housing overheads
own 3 cars
and the women in my life dont cost me a penny
I have savings

I certainly dont need the Credit Cards, but use them as they carry Insrance protection.

Is that woman or women, Skruntie?

If it is women then you are a randy old sod.

2nd oneI have filtered my friends out over the years.

I am still in contact with all my Ex's, dont believe in argueing and falling out, if the relationship fails, end it and move on but remain friends.

One of the women is an ex (my age), we speak most days, I help her when she struggles, she visits a few times a year and has been known to stay over.

Another works away and comes to stay when she can but home for her is in Tenereife.

The other 2 live local and are older than me (not by much) they are both stunning looking.

[Andy B]

I don't have a credit card, am i normal? 

no 

[STEMO]

I don't have a credit card, am i normal? 

no 

Seconded.

[Doctor Gollum]

I don't have a credit card, am i normal? 

no 

Seconded.

Excellent. Being normal sucks.

[Andy B]

....
If can answer 'no' to all the following:

Do you have... A Faceachebook account?

No

An Amazon account?

Yes

A credit card?

yes 2 of

An over draft?

there is one on my account ..... but never used

Then you can join me in my identity box... 

Do I actually want to join .... 

[Doctor Gollum]

....
If can answer 'no' to all the following:

Do you have... A Faceachebook account?

No

An Amazon account?

Yes

A credit card?

yes 2 of

An over draft?

there is one on my account ..... but never used

Then you can join me in my identity box... 

Do I actually want to join .... 

Do I want you to?*... 

Sorry, that should be 'we'... I'd forgotten that Ron had joined

As an aunt used to say, "You can. The question is whether you may."