Some of you are vultures

Broken_hearted

dazco wrote: »

I knew it!!!!!!:rotfl::rotfl::rotfl::rotfl::rotfl::rotfl:


Nobody could really be that thick.

You could why don't you go back to pushing disabled people out of the way so you can play on kiddie rides.

Paul_M_5

Broken_hearted wrote: »

No I worked it out when we were on the edge of going under at the hight of the housing boom. It would only take us 5 years to get through the money and still have rent to pay, making us worse off. Or we could keep fighting to pay the mortgage for another 9 years end up with the house and nothing to pay.
By the time you get onto the property ladder we will be mortgage free.

This makes no sense. So if you sold the house at the height of the boom, you'd get through the money in rent within 5 years? Either your house is worth very little, or you planned on renting Buckingham Palace

As a previous poster has pointed out, you'd sell for (as an example) £200k, pay off the mortgage of (say) £100k, and have £100k to invest somewhere secure and with a guaranteed return. 5% fixed net was not difficult to come by back then, so you're making £5k per year on your £100k investment, in addition to the savings on interest payments on your paid-off mortgage. So we can conservatively say you'd be saving £8k per year in this example, which can go towards renting -- and rents are cheap compared to house values at the moment in my experience.

You then buy back in at £150k in a few years time (again just an example, drops may be more or less, but I doubt they'll be less being that we've dropped 16% already) so you've instantly knocked £50k off your mortgage when you decide to re-enter the market. Let's assume it takes 4 years before you buy back in, spread that 50k saving over 4 years, and add the previous saving of 8k, and you'd have to be paying over £20k per year in rent to be worse off! And these figures are conservative -- in my opinion the drops (and therefore savings) will be greater.

So, taking all the above into consideration, can you explain how you'd manage to pay off your mortgage in 9 years (implying you have/had significant equity in the house), yet if you'd have sold up at the peak you'd manage to burn through all the money in rent within 5 years and be left with nothing? Doesn't add up to me, so I'm curious to know if you've actually done all the sums.

Broken_hearted

The money would be the only income so it would go pretty fast and wouldn't be there in a few years to buy it back.
Yes I've done the sums over and over for our situation we are in the best position we can be.

Paul_M_5

Broken_hearted wrote: »

The money would be the only income so it would go pretty fast and wouldn't be there in a few years to buy it back.

Where is the money coming from to pay the mortgage at the moment?

dazco

Broken_hearted wrote: »

You could why don't you go back to pushing disabled people out of the way so you can play on kiddie rides.

THATS your agenda. Now I see.

I am honoured that you remember me but I am a afraid I cannot recall you. You no mark. Glad I sussed you out so soon and I apologise for suggesting that you were pretending to be thick. Evidently there is no pretence involved.

For others reading this I suggested, several epochs ago, that it was wrong to let disabled people jump the queue at Disneyworld if they had the capability of queueing without discomfort. I still believe it but it obviously rankled miss no-life up there:rolleyes:

Broken_hearted

dazco wrote: »

THATS your agenda. Now I see.

I am honoured that you remember me but I am a afraid I cannot recall you. You no mark. Glad I sussed you out so soon and I apologise for suggesting that you were pretending to be thick. Evidently there is no pretence involved.

For others reading this I suggested, several epochs ago, that it was wrong to let disabled people jump the queue at Disneyworld if they had the capability of queueing without discomfort. I still believe it but it obviously rankled miss no-life up there:rolleyes:

I'm very aware your disability doesn't stop you queing.:rolleyes:

dazco

Broken_hearted wrote: »

The money would be the only income so it would go pretty fast and wouldn't be there in a few years to buy it back.
Yes I've done the sums over and over for our situation we are in the best position we can be.

:rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::T

Wanna buy some timeshare?:rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl:

Broken_hearted

Paul_M wrote: »

Where is the money coming from to pay the mortgage at the moment?

the taxpayer mainly

dazco

Paul_M wrote: »

Where is the money coming from to pay the mortgage at the moment?

I seriously would not bother mate. If someone cannot work out a simple sum like that then there not a hope for them.

Broken_hearted

dazco wrote: »

I seriously would not bother mate. If someone cannot work out a simple sum like that then there not a hope for them.

You really are slow.