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Shhhhh, I didn`t tell you this
Pobby
Posts: 5,438 Forumite
Heard today that a couple of aquaintances got a 100% mortgage.They are both approaching 50 and I guess earn about 32k a year between them, before tax. The bank has given them a 10% loan to put down on a property that is costing them £113k. They will be 70 when it`s all paid off.
Btw, they love there pub weekends and take aways, ---- hmmmmm!
Btw, they love there pub weekends and take aways, ---- hmmmmm!
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Heard today that a couple of aquaintances got a 100% mortgage.They are both approaching 50 and I guess earn about 32k a year between them, before tax. The bank has given them a 10% loan to put down on a property that is costing them £113k. They will be 70 when it`s all paid off.
Btw, they love there pub weekends and take aways, ---- hmmmmm!
Crazy that, whenever i hear about people borrowing the deposit it makes me cringe.0 -
I posted on another thread about a friend of my OH, 46 year old policeman, wants to retire at 50, we thought his mortgage would be paid off as he's had the house about 20 years, but he tells OH he owes £160k mortgage...they are mad I tell you...rather them than us. A xDon't believe everything you think.
Blessed are the cracked...for they are the ones who let in the light. A x0 -
But clearly the lenders in this case are aware. Makes you wonder what world of madness this is.0
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chrisandanne wrote: »I posted on another thread about a friend of my OH, 46 year old policeman, wants to retire at 50, we thought his mortgage would be paid off as he's had the house about 20 years, but he tells OH he owes £160k mortgage...they are mad I tell you...rather them than us. A x
I guess that is going to be a repayment of about a grand a month for the next 25 years. Darn good pension these coppers must get.0 -
The thinking was probably...the house will go up in the next four years and be worth (I don't know more than £160k anyway) we will sell it and buy smaller.....unfortunately for them their 3 bed semi may be worth £140K now and falling...a job in B & Q needed to supplement his pension I think...if B & Q survive...Or perhaps security on car parks to stop people nicking petrol.
AxDon't believe everything you think.
Blessed are the cracked...for they are the ones who let in the light. A x0 -
I have heard of crops being nicked from allotments, so night watchman also wanted!0
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There will be the lump sum payment to bear in mind, (could be 25% of fund)0
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Heard today that a couple of aquaintances got a 100% mortgage.They are both approaching 50 and I guess earn about 32k a year between them, before tax. The bank has given them a 10% loan to put down on a property that is costing them £113k. They will be 70 when it`s all paid off.
Btw, they love there pub weekends and take aways, ---- hmmmmm!
God almighty, MSE isn't a garden fence that you can tell all your neighbourhood gossip over!
Do you not have any friends you can impart this earth shattering information too?
Sorry, but gossip is so much more interesting when you know the person being gossipped about. In this case, a stranger is on an anonymous website gossiping to other strangers about a stranger with a large mortgage. Give me strength!Mortgage Free in 3 Years (Apr 2007 / Currently / Δ Difference)
[strike]● Interest Only Pt: £36,924.12 / £ - - - - 1.00 / Δ £36,923.12[/strike] - Paid off! Yay!!
● Home Extension: £48,468.07 / £44,435.42 / Δ £4032.65
● Repayment Part: £64,331.11 / £59,877.15 / Δ £4453.96
Total Mortgage Debt: £149,723.30 / £104,313.57 / Δ £45,409.730 -
Bit touchy this morning DD? I mearly imparted this bit of earth shattering news to demonstrate that the madness is still going on.0
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Bit touchy this morning DD? I mearly imparted this bit of earth shattering news to demonstrate that the madness is still going on.
Ah, it was a 'public service announcement'. That's all right then
Do tell us some more public interest story's. Is Doris at number 27 still seeing the window cleaner each Thursday?Mortgage Free in 3 Years (Apr 2007 / Currently / Δ Difference)
[strike]● Interest Only Pt: £36,924.12 / £ - - - - 1.00 / Δ £36,923.12[/strike] - Paid off! Yay!!
● Home Extension: £48,468.07 / £44,435.42 / Δ £4032.65
● Repayment Part: £64,331.11 / £59,877.15 / Δ £4453.96
Total Mortgage Debt: £149,723.30 / £104,313.57 / Δ £45,409.730
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