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Would You Still Go for 3 X Salary at Age 46?

2»

Comments

  • keith969
    keith969 Posts: 1,575 Forumite
    Part of the Furniture
    Well yes... I'll also be 65 by the time the mortgage is paid off, not what I had planned but that's life!
    For every complex problem there is an answer that is clear, simple and wrong.
  • westv
    westv Posts: 6,509 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    keith969 wrote: »
    Well yes... I'll also be 65 by the time the mortgage is paid off, not what I had planned but that's life!

    I think that'll be my situation too. Hopefully it won't but best to expect the worst in these situations I think.
  • Surbybird
    Surbybird Posts: 293 Forumite
    Part of the Furniture 100 Posts Photogenic Combo Breaker
    westv wrote: »
    Interest only? Oh no,no,no,no! :eek:

    I am not on interest only as I want to overpay and was advised to go for replayment, which I did (and I am overpaying).

    K
    August £10 a day challenge- £27/£310
  • Strapped
    Strapped Posts: 8,158 Forumite
    westv wrote: »
    Interest only? Oh no,no,no,no! :eek:

    Nothing wrong with an interest only mortgage, so long as it is an INFORMED decision!

    It can sometimes be much cheaper to "rent from the bank" than to "rent from a landlord".
    They deem him their worst enemy who tells them the truth. -- Plato
  • olly300
    olly300 Posts: 14,738 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    westv wrote: »
    Interest only? Oh no,no,no,no! :eek:

    Interest only is fine if you have some way of paying of the rest of the debt.

    I know people with IO and they pay lump sums of the debt every year. Due to how they receive their incomes it suits them better than repayment.
    I'm not cynical I'm realistic :p

    (If a link I give opens pop ups I won't know I don't use windows)
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