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[Field Marshal Dr. Opti]

A number of people got into 'buy to rent' back in the day. Not so lucrative now.

It's not real wealth when a property has a mortgage on it. It looks good on paper but .........

Pretty sure that Tigger fella owns houses in darkest 'Darzett'

[STEMO]

A number of people got into 'buy to rent' back in the day. Not so lucrative now.

It's not real wealth when a property has a mortgage on it. It looks good on paper but .........

Pretty sure that Tigger fella owns houses in darkest 'Darzett'

Over the border in South Wales, I think. Don't know how that's gonna work with Brexit.

[Field Marshal Dr. Opti]

A number of people got into 'buy to rent' back in the day. Not so lucrative now.

It's not real wealth when a property has a mortgage on it. It looks good on paper but .........

Pretty sure that Tigger fella owns houses in darkest 'Darzett'

Over the border in South Wales, I think. Don't know how that's gonna work with Brexit.

It hasn't exactly gone smoothly in some respects, but the sky hasn't fallen in either.

North of Hadrian wall some people seem annoyed about fish.....

 

[Field Marshal Dr. Opti]

If Boris gives them £1 million a day they will be less annoyed.

[Sir Tigger KC]

Congratulations M'lud! 

With all the spare cash you'll have sloshing around, I have no doubt you'll be treating Mrs Opti to a nice car and a new kitchen? 

Over my dead body.....

New car though.....

If Mrs Opti has a new kitchen but you disappear at the same time, we'll know where to start digging! 

[B52]

25-year endowment mortgage paid off last year, came out £5k to the good (all gone, of course)

[ronnyd]

25-year endowment mortgage paid off last year, came out £5k to the good (all gone, of course)

That was fortunate.  Had to use some of my pension tax free lump sum to pay my shortfall. .   Had an "interest free" mortgage for a while until i got to retirement age. Worked out very well  in the end, thankfully. Christ, i'm glad i'm not starting out like my youngest granddaughter.

[Entwood]

House purchased in 1978 with a £12,000 "low cost" endowment over 25 years. Increased over time due to several extensions, to a total of £38,000 but the "final date" not changed. Paid off in 2003 with the total of the 4 endowments being £54,000 ... a "profit" of £16,000 .... but I know I paid an awful lot of interest in those 25 years, especially given the way the interest rates went in 1978 !

Still live in the same house ........ 

[Field Marshal Dr. Opti]

25-year endowment mortgage paid off last year, came out £5k to the good (all gone, of course)

That was fortunate.  Had to use some of my pension tax free lump sum to pay my shortfall. .   Had an "interest free" mortgage for a while until i got to retirement age. Worked out very well  in the end, thankfully. Christ, i'm glad i'm not starting out like my youngest granddaughter.

An endowment mortgage only really works  when interest rates are high......which is why they have not been around for some considerable time.

The endowment mortgage I took out was supposed to make £41000 from £72.98 a month, over 25 years......So £21894 in the pot.




It did not get close, the amount the policy was worth being less than half the amount I had paid in.

No doubt the fund managers still took a wedge for their inept management of the policy.....

I was left with the choice the choice of paying more each month, or switching to a repayment mortgage.......which I did.

[ronnyd]

25-year endowment mortgage paid off last year, came out £5k to the good (all gone, of course)

That was fortunate.  Had to use some of my pension tax free lump sum to pay my shortfall. .   Had an "interest free" mortgage for a while until i got to retirement age. Worked out very well  in the end, thankfully. Christ, i'm glad i'm not starting out like my youngest granddaughter.

An endowment mortgage only really works when interest rates are high......which is why they have not been around for some considerable time.

The endowment mortgage I took out was supposed to make £41000 from £72.98 a month, over 25 years......So £21894 in the pot.




It did not get close, the amount the policy was worth being less than half the amount I had paid in.

No doubt the fund managers still took a wedge for their inept management of the policy.....

I was left with the choice the choice of paying more each month, or switching to a repayment mortgage.......which I did.

Oh yes, i have not so fond memories of the high mortgage rates in the 80s.  . It was quite a struggle with a growing family.

[TheBoy]

My previous house was a low cost endowment, supposed to cover £40k.  But then the interest rates were around 14% when I took it out.

Interest rates dropped dramatically, but I never adjusted the payments on the borrowed money, so in effect I was slowly paying it off.

When I moved, I kept the endowment side of it going, as cashing in endowments was pointless, and that matured 3 or 4 years ago, and was only about £6k short or its promised target, so did much better than I anticipated.

[Rangie]

A great feeling not owing a penny, paid mine off many years ago with a windfall , never pay interest on anything is my motto.

[New POD]

That final admin fee. I refused to pay it. They said I wouldn't get my deeds then.  Okay, but it's all electronic, so keep hold of the copy you have. 3 months later they sent me a copy of my deeds. self-abusers.

[Sir Tigger KC]

Danish banks are going to start offering 20 year fixed rate mortgages at 0% interest!   

Which is nice for the Danish people. 

Maybe it'll spark off a property boom there. 

[B52]

Mine was a traditional low-cost interest-only which seriously started to wobble around 2010. I made a few lump sum payments to reduce the principal (and therefore the interest) but stopped around 2015 when it was within 5 years of finishing, as I had more than enough in savings to cover the max shortfall.

In the end it still paid back enough and substantially more than I'd paid in.

Got loads of those mis-sold compensation claim letters but didn't take them up - left them to those in real need and I knew it wasn't risk-free tbh.