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At least you know where you are with a mortgage.
Realy
Posts: 1,017 Forumite
Well after today and with the very real prospect of losing over £K today I thought I would post on here. (Thank god my ISA is with EGG, providing they are still there tomorrow 
)
I did purchase a house earlier this year with a large deposit (and a good discount but won’t go in to that) and now am so glad I did not STR.
I think we are now going to see how unworkable these guaranteed savings schemes are.
People have said you are enslaved to a mortgage but if a bank goes bust it is still there, is my cash?
Some people have lost more today than a FTB buying a £1M house in July 07.
As I look at it now at least I know my mortgage will be their tomorrow and so will my house.
At the moment I am happier having my mortgage and my cash tied to my house than worrying about my cash and if it is safe and if it is not will they pay out.
Good luck to all with savings. I mean it, a bad day for savers today.
PS this is serious not a WUM (for those who do not know my posts)
)I did purchase a house earlier this year with a large deposit (and a good discount but won’t go in to that) and now am so glad I did not STR.
I think we are now going to see how unworkable these guaranteed savings schemes are.
People have said you are enslaved to a mortgage but if a bank goes bust it is still there, is my cash?
Some people have lost more today than a FTB buying a £1M house in July 07.
As I look at it now at least I know my mortgage will be their tomorrow and so will my house.
At the moment I am happier having my mortgage and my cash tied to my house than worrying about my cash and if it is safe and if it is not will they pay out.
Good luck to all with savings. I mean it, a bad day for savers today.
PS this is serious not a WUM (for those who do not know my posts)
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Comments
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Well after today and with the very real prospect of losing over £K today I thought I would post on here. (Thank god my ISA is with EGG, providing they are still there tomorrow )
I did purchase a house earlier this year with a large deposit (and a good discount but won’t go in to that) and now am so glad I did not STR.
I think we are now going to see how unworkable these guaranteed savings schemes are.
People have said you are enslaved to a mortgage but if a bank goes bust it is still there, is my cash?
Some people have lost more today than a FTB buying a £1M house in July 07.
As I look at it now at least I know my mortgage will be their tomorrow and so will my house.
At the moment I am happier having my mortgage and my cash tied to my house than worrying about my cash and if it is safe and if it is not will they pay out.
Good luck to all with savings. I mean it, a bad day for savers today.
PS this is serious not a WUM (for those who do not know my posts)
Yes - you certainly know where you are: Heavily in debt and quite probably in negative negative equity by now if you bought in 2006/7/8.
To date, no-one has actually lost their savings. And don't worry about anyone 'losing' your mortgage debt; In the event of the lender going bust it'd be sold on to someone else, plus good luck getting a well priced remortgage if on a fixed rate :rolleyes:
If I were you 'Realy', instead of trolling I'd concentrate on not losing my income stream which is needed to service a debt that could well be in negative equity leaving you homeless and with an actual loss of goodness knows how many thousands of pounds. Still, with a very nasty recession on the way what could possibly go wrong :rotfl:--
Every pound less borrowed (to buy a house) is more than two pounds less to repay and more than three pounds less to earn, over the course of a typical mortgage.0 -
I think your phrase that 'you know where you are' is very much a symptom of some of the huge problems some people have got into TBH.
Its part of the safe as houses, bricks and mortar thinking that have lead SOME people to exagerate their worth and/or overextend themselves, feeling that prices will go up, and if they don't at least they are safe in their bricks and mortar. Unfortunately most people are only safe in this if their life stays stable. I would be confident in a house I was staying in longterm....longterm longterm, not a few years, that was paid for cash, nothing more. People who have lost £35 k, for example, temporarily today (presuming it is reclaimable through one of the reimbursment schemes) are terrified and feeling scared, I'm feeling scared and I haven't lost anything!, but if 'd bought a house last year I might have lot more than that in ''worth'' already with th potential for more loss, plus, if in negative euity I might have been restrictd from making the lifetyle changes (moving for work, letting etc et etc) that would have got me out of the mess!!!
What is the most prudent choice would depend almost certainly on several financial variables, and personal variables ....I think IN THE MAIN, people who have str will do short term better in this decision, but by no means in all cases!0 -
Yes - you certainly know where you are: Heavily in debt and quite probably in negative negative equity by now if you bought in 2006/7/8.
To date, no-one has actually lost their savings. And don't worry about anyone 'losing' your mortgage debt; In the event of the lender going bust it'd be sold on to someone else, plus good luck getting a well priced remortgage if on a fixed rate :rolleyes:
If I were you 'Realy', instead of trolling I'd concentrate on not losing my income stream which is needed to service a debt that could well be in negative equity leaving you homeless and with an actual loss of goodness knows how many thousands of pounds. Still, with a very nasty recession on the way what could possibly go wrong :rotfl:
I
Am not trolling this how I am thinking today. What is the matter with you?
Would it be better for me to post some bull to keep you happy?
I like hundreds of thousands of people have savings in a scheme which no one knows will pay and for how long. (I can’t even get in my account as I closed it yesterday)
How are people feeling with large savings as I am not happy at the moment?
I will now make that good luck anyone with savings except !!!!!! let’s hope next doors cat as not dug up his gold ring he buried and his biscuit tin as not got moths in it.:rolleyes:
ARS@0 -
lostinrates wrote: »I think your phrase that 'you know where you are' is very much a symptom of some of the huge problems some people have got into TBH.
Its part of the safe as houses, bricks and mortar thinking that have lead SOME people to exagerate their worth and/or overextend themselves, feeling that prices will go up, and if they don't at least they are safe in their bricks and mortar. Unfortunately most people are only safe in this if their life stays stable. I would be confident in a house I was staying in longterm....longterm longterm, not a few years, that was paid for cash, nothing more. People who have lost £35 k, for example, temporarily today (presuming it is reclaimable through one of the reimbursment schemes) are terrified and feeling scared, I'm feeling scared and I haven't lost anything!, but if 'd bought a house last year I might have lot more than that in ''worth'' already with th potential for more loss, plus, if in negative euity I might have been restrictd from making the lifetyle changes (moving for work, letting etc et etc) that would have got me out of the mess!!!
What is the most prudent choice would depend almost certainly on several financial variables, and personal variables ....I think IN THE MAIN, people who have str will do short term better in this decision, but by no means in all cases!
Thanks, this is a not a look at me post just how I feel today. I do generally feel for all with savings as I could have had a lot sloshing around a few months ago (I was pooing then). Good luck
And thanks for taking the thread as serious unlike some people. :rolleyes:
PS I have purchased for the long term in the end a house is a home.
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To date, no-one has actually lost their savings.
Well they have just over 95% had under £50K the other 5% have lost money.
FACT!
Chances are anyone under £16K (me included) might not get refunded either.
Icesave stopped all transfers done yesterday and this morning.
Then I suppose you knew all that as that.:rolleyes:0 -
I
Am not trolling this how I am thinking today. What is the matter with you?
Would it be better for me to post some bull to keep you happy?
I like hundreds of thousands of people have savings in a scheme which no one knows will pay and for how long. (I can’t even get in my account as I closed it yesterday)
How are people feeling with large savings as I am not happy at the moment?
I will now make that good luck anyone with savings except !!!!!! let’s hope next doors cat as not dug up his gold ring he buried and his biscuit tin as not got moths in it.:rolleyes:
ARS@
Since only a complete fupping idiot would be happier that they saddled themselves with a large debt on an overpriced property going into a recession that is looking like it will be deflationary instead of selling a property at the peak and banking a healthy cash profit, I have to conclude you are trolling again.
Well, actually, since your sock puppet was created a week or so back you've done nothing but troll.
There are plenty of people on here who are worried because they had their money in Icesave. Even though they'll get it back, they will face uncertainty and stress and the last thing they need is a grade-A trolling muppet like yourself coming on to wind them up whilst feigning concern.
Now be a good troll and jog on. :rolleyes:--
Every pound less borrowed (to buy a house) is more than two pounds less to repay and more than three pounds less to earn, over the course of a typical mortgage.0 -
PS I have purchased for the long term in the end a house is a home.
Yeah, thats another one of those dangerous traps of thought I believe. I'm astounded by how many people have not got the adaquate insurances to protet them if this is how they feel, and it seems most don't.
I'm far from anti ownership, I'm aspiring myself, but I refuse to do it with a mind closed to risks and covered in cliches!0 -
Since only a complete fupping idiot would be happier that they saddled themselves with a large debt on an overpriced property going into a recession that is looking like it will be deflationary instead of selling a property at the peak and banking a healthy cash profit, I have to conclude you are trolling again.
Well, actually, since your sock puppet was created a week or so back you've done nothing but troll.
There are plenty of people on here who are worried because they had their money in Icesave. Even though they'll get it back, they will face uncertainty and stress and the last thing they need is a grade-A trolling muppet like yourself coming on to wind them up whilst feigning concern.
Now be a good troll and jog on. :rolleyes:
Ars@ check my posts today i have been chasing icesave most of it.
Are you the guardian of the site.
If you can't take this in the seriousness it was posted I surgest you
!!!!!! OFF!
PS you should be the expert in trolling (read some of your posts and coments) as you know nothing about my circumstances so I call troll.
Have I made an outragous coment no!
PS Jog on! are you a school girl0 -
lostinrates wrote: »Yeah, thats another one of those dangerous traps of thought I believe. I'm astounded by how many people have not got the adaquate insurances to protet them if this is how they feel, and it seems most don't.
I'm far from anti ownership, I'm aspiring myself, but I refuse to do it with a mind closed to risks and covered in cliches!
We have talked about it before I have wages protection, remember I said about it only being 12M cover.
Why are people so sceptical of me after making coments about falling prices.
I except prices are falling but I am also a frustrated saver.
Perhaps most of you did not have savings in icesave today.
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>at least I know my mortgage<
And of course Clown's only option now is to run the printing presses, massively inflating the money supply and sending inflation soaring. Your mortgage debt will melt away like snow in summer. While 'savers' worry about £15 loaf, your tangible asset will again be appreciating in value.
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