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Super Spammer
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| Ste |
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Ste
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Super Spammer
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 Posted: 00:09 - 18 Nov 2018  Post subject: |
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Initially it was the only way I could afford it, but it’s such a good deal I won’t remortgage at 1% over BoE.
Either way, a repayment pays off at standard rate after the interest payment. With interest only, you get interest on your private savings to pay off the repayment, which goes down by inflation and the interest you pay.
At the moment savings are only 1.5% ish, but thats still 1.5% more than if you repay at face value.
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| M.C |
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M.C
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Joined: 29 Sep 2015
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| Posted: 00:16 - 18 Nov 2018 Post subject: |
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| mpd72 CPT wrote: | Lost out? I bought a house jointly because it was the only way to afford one. Within 5 years we split up and I had to double the outstanding mortgage to buy her out.
It was still worth it though. I’m on interest only but having now paid off my race debt, am debt free and able to pay off the last 50% of the equity before its due.
No offence, but you’re looking for excuses to blame everyone but yourself for not getting on the housing ladder. Do it as soon as possible and learn to iron your own clothes and cook without mummy. 
You can’t even get your head around a TV licence fee not being optional. Adulthood is still a future experience for you by the sound of it.
Maybe you’re younger than I think? |
Well you called me middle-aged before so yes I am younger than you think
Remind me again at what point on this graph did you (originally) buy?
https://www.moneywise.co.uk/sites/default/files/ifs-millennial-housing-graph-web.png
...and how long in total until it's paid off?
You can't get your head around why it's moronic to fund an organisation you seem to detest and constantly moan about. Do what Ste does and get a constant supply of free toilet paper. |
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| Jewlio Rides Again LLB |
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Jewlio Rides Again LLB
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Joined: 06 Oct 2015
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Posted: 00:19 - 18 Nov 2018  Post subject: |
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He's at it again with the bullshit, isn't he?
 Point him to the TVL website where it says you don't need a licence, and the scenarios.
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Mpd72: I can categorically say i’m Brighter than that, no matter how I come across on here.
HAHAHA HAHAHA Blew Chilly MyCrowSystems |
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Super Spammer
Joined: 22 Oct 2013
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Posted: 00:19 - 18 Nov 2018  Post subject: |
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| M.C wrote: | | mpd72 CPT wrote: | Lost out? I bought a house jointly because it was the only way to afford one. Within 5 years we split up and I had to double the outstanding mortgage to buy her out.
It was still worth it though. I’m on interest only but having now paid off my race debt, am debt free and able to pay off the last 50% of the equity before its due.
No offence, but you’re looking for excuses to blame everyone but yourself for not getting on the housing ladder. Do it as soon as possible and learn to iron your own clothes and cook without mummy.
You can’t even get your head around a TV licence fee not being optional. Adulthood is still a future experience for you by the sound of it.
Maybe you’re younger than I think? |
Well you called me middle-aged before so yes I am younger than you think
Remind me again at what point on this graph did you (originally) buy?
https://www.moneywise.co.uk/sites/default/files/ifs-millennial-housing-graph-web.png
...and how long in total until it's paid off?
You can't get your head around why it's moronic to fund an organisation you seem to detest and constantly moan about. Do what Ste does and get a constant supply of free toilet paper. |
If you want to carry on living with mummy fill your boots, but stop pretending it’s everyone else’s fault that you can’t buy your own place.
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Ste
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| Jewlio Rides Again LLB |
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Jewlio Rides Again LLB
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| Posted: 00:22 - 18 Nov 2018 Post subject: |
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Donk brings up the TV licence in this very thread. I reply to it, and it's off topic. Laughable. Bit like where your genitals should be, soft lad.
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Mpd72: I can categorically say i’m Brighter than that, no matter how I come across on here.
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Super Spammer
Joined: 22 Oct 2013
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| Posted: 00:24 - 18 Nov 2018 Post subject: |
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Sorry but you’re arguing that people are too stupid to realise they need to pay off a mortgage.
I can categorically say i’m Brighter than that, no matter how I come across on here.
One of my biggest irritations about modern life is how people blame everyone but themselves for their own stupidity. I’m fully aware of how much I now have to save every month to pay off the last 50% of the equity in 12 years. Now my debt is cleared, it’s already under way.
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M.C
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Ste
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Super Spammer
Joined: 22 Oct 2013
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Super Spammer
Joined: 22 Oct 2013
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| Posted: 01:02 - 18 Nov 2018 Post subject: |
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| Ste wrote: | | mpd72 CPT wrote: | Sorry but you’re arguing that people are too stupid to realise they need to pay off a mortgage.
I can categorically say i’m Brighter than that, no matter how I come across on here.
One of my biggest irritations about modern life is how people blame everyone but themselves for their own stupidity. I’m fully aware of how much I now have to save every month to pay off the last 50% of the equity in 12 years. Now my debt is cleared, it’s already under way. |
Lots are people are really stupid and would see an interest only mortgage as a cheap mortgage where paying off the capital is something to worry about in the future.
The FCA also say that lots of people are too stupid to realise that they need to pay off a mortgage.
Anyway, like I said, it sounds like you've got a plan and know what you're doing. Quite a lot of BCFers would be in the group of people who don't make any plans for how they're going to pay off the capital. |
To be fair, every single letter or statement from the mortgage company states in bold print that the interest only mortgages only pay the interest, not the capital and it’s up to you to have a means in place to pay this off before the term is up.
Anyone who pretends to not be aware of this is either as thick as the yappy one or lying. It’s a shame we now have so many people not willing to take responsibility for their own actions.
I have around £108k left to pay off in around 12 years, so £750 a month on top of £150 ish interest at present.
I have to tidy my own bedroom and iron my own clothes though! 
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M.C
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| Posted: 01:15 - 18 Nov 2018 Post subject: |
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That has to be the most expensive mortgage in history What was the original purchase price again?
EDIT: I just checked...
How much would will it have cost you in total when it's paid off?  |
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Polarbear
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| Posted: 02:28 - 18 Nov 2018 Post subject: |
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While I perfectly understand what an interest free mortgage is, I would never have trusted myself to save enough to pay off the capital.
I never trusted those endowment mortgages either although some people told me they worked out OK for them.
Just a straight repayment one for me and once the last payment went out I was safe. 
That of course is as long as wifey doesn't get the wandering eye and try and divorce me. I don't think she will though cause I told her she'd end up under the decking if she tried that. 
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grr666
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| Posted: 11:10 - 18 Nov 2018 Post subject: |
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Oh Christ, you're at it again. Remind me how you found out where I live and how much I paid for my house almost 20 years ago?
You two really should get a life. Preferably one where you don't still live with your Mum as an adult, you creepy manchild. 
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Im-a-Ridah
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Im-a-Ridah
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Diggs
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| Posted: 11:45 - 18 Nov 2018 Post subject: |
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Mpg - how do you know that I am white?
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Now - Speed Triple, old ratty GS550, GSXR750M
Gone (in order of ownership) - Raleigh Runabout, AP50, KH125, GP125, KH250, CBX550, Z400, CB750FII, 250LC, GS550, ZXR750H1, Guzzi Targa, GSX750F, KH250 x2, Bimota SB6R and counting... |
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| Jewlio Rides Again LLB |
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Jewlio Rides Again LLB
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M.C
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| Posted: 14:39 - 18 Nov 2018 Post subject: |
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| Posted: 14:46 - 18 Nov 2018 Post subject: |
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| M.C wrote: |
Because you posted your own personal details online?  Past sale prices are freely available. Maybe you shouldn't make statements your own life experience refutes |
That's a bare faced lie though isn't it? All I posted was the name of my company, not expecting you and the Yappy one to be sad enough to use it to research my entire life with, gathering info on who I married over 15 years ago, when I got divorced, to which house I bought and how much I paid 20 years ago.
That's stalking, no matter how much you try to pretend it's not. Then choosing to release snippets about me online as a billy big bollocks form of Internet bullying, is doxxing and a cowardly form, when the two of you do it from a position of anonymity for safety reasons.
How do you think this sort of behaviour makes you both look to grown adults?
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M.C
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| Posted: 15:08 - 18 Nov 2018 Post subject: |
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| mpd72 CPT wrote: | | M.C wrote: |
Because you posted your own personal details online? Past sale prices are freely available. Maybe you shouldn't make statements your own life experience refutes |
That's a bare faced lie though isn't it? All I posted was the name of my company, not expecting you and the Yappy one to be sad enough to use it to research my entire life with, gathering info on who I married over 15 years ago, when I got divorced, to which house I bought and how much I paid 20 years ago.
That's stalking, no matter how much you try to pretend it's not. Then choosing to release snippets about me online as a billy big bollocks form of Internet bullying, is doxxing and a cowardly form, when the two of you do it from a position of anonymity for safety reasons.
How do you think this sort of behaviour makes you both look to grown adults? |
You're the one who said you were married, that you had to re-mortgage, posted your full name and company details online.
You also miss the point that other people have links to their businesses on this forum and don't get doxxed, partly because they don't go around antagonising people.
Who's trying to blame everyone else now |
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Old Thread Alert!
The last post was made 5 years, 162 days ago. Instead of replying here, would creating a new thread be more useful? |
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