Are borrowers really making a conscious effort to pay down debt?

Cleaver

Pobby wrote: »

In a similar position to my buddy here. Where exactly do you put your cash. Low IRs, I suspect well under real levels of inflation. My equities are doing not so well, i also have gilts. Tbh, I am of an age where I am very risk adverse. Our pensions, mainly private ones are doing , cough, not exactly well.

Looking at rightmove , I could probably buy a couple of flats without a mortgage but that excites me as much as watching property !!!!!!.

I like you a lot too Pobby, so I'm probably now about to start another insulting fight with another respected, well-liked member.

All I would say is that if you have a problem about where to put your money, it's quite a nice problem to have. I can imagine the frustration of paying in to a pension all your life and not seeing much at the end though, so I think I'll dutifully shut up.

mewbie_2

Cleaver wrote: »

I like you a lot too Pobby, so I'm probably now about to start another insulting fight with another respected, well-liked member.

It's a fine line to tread. Sometimes worth considering whether it is worth it. I tend to have a go at less popular bulls, and newbies.

Cleaver

Bored_Poster wrote: »

To be fair cleaver this unprovoked attack is slightly out of character for you? Are you suffering from junglair shadow sir?

If saying that Pastures " is super lovely, funny and altogether a jolly good person" constitutes an 'attack' I would hate to see what I would write if I wanted to make the beast with two backs with her.

lostinrates

Cleaver wrote: »

All I would say ....

Here's the thing. I think we come from drammatically different perspectives. Of course its nt beyond someone with PN's intelligence to research financial products, but for many leaving school less recently, not relaly expecting to have much worth, etc, not everyone is as bright..or self sufficient..as PN. We are derisory of people who have not provided or themselves here a lot, but I think most of us (myself excluded of course) are reasonably intelligent people, and again, excluing me, literate. Its not necessarily the case that people are armed with such skills. This is not a value judgement, just a ''what then''.

chucky

unfortunately, just like people thought that property only went up in value.
some are finding that interest rates don't always stay at levels that they expected them to be at.

Cleaver

lostinrates wrote: »

Here's the thing. I think we come from drammatically different perspectives. Of course its nt beyond someone with PN's intelligence to research financial products, but for many leaving school less recently, not relaly expecting to have much worth, etc, not everyone is as bright..or self sufficient..as PN. We are derisory of people who have not provided or themselves here a lot, but I think most of us (myself excluded of course) are reasonably intelligent people, and again, excluing me, literate. Its not necessarily the case that people are armed with such skills. This is not a value judgement, just a ''what then''.

I guess so. I just think that if you were going to have all of your assets in one class or area (whether that's a property portfolio, ftse 100 companies, shares, gold, cash etc.) I would have thought that you either need to have a great deal of confidence in that area, or a plan to diversify if that area isn't going in the direction you want.

b0rker

IveSeenTheLight wrote: »

I wouldn't add the arrangement fee.
When you work it out you end up paying months of mortgage payments just to get back to the original borrowed capital.

Yeah but that just makes another £1,000 that we already need to save to get down to an 80% LTV.

You are right of course.

We are so desperate to get a £320 monthly repayment that this seems more important than the actual fact and figures.

Not clever I know. I am trying to be clever about this as I was not clever when arranging the original 1st FTB mortgage 2 years ago and I regret that.

b0rker

PasturesNew wrote: »

I've not even had that much go through my hands in the whole of the past two years I doubt.

We saved very hard for that £20,000 between 2 people over 18 months.

We did not complain about the low rates we were getting on our savings despite tha fact that we were on a 6.99% fixed for 2 years.

We did not think we had a right to earn any level of interest on our savings. Only what the market saw fit for us to earn at that point in time.

Cleaver

Bored_Poster wrote: »

Yeah I love that post. So you are basically accusing Pn of having all her eggs in one basket cleaver? How long is this tyranny going to continue?

Until she buys a new build flat to rent out on a 90% LTV, a couple of risky China and India small company emerging funds, twenty grand in premium bonds, a ski-lodge in the cheap area of bulgaria to rent to tourists (up and coming innit), a few grand in a Japanese hedge fund, ten grand as a venture capital vehicle to a small London film maker who make mockney gangsta films, shares in a penny-share gold mining company, thirty grand on a spread bet to short the FTSE (it's due a drop), a trip to vegas to card count and finally a purchase of an 8th of a race horse.

Oh, and she should keep 10% in cash. You want it balanced after all.

Pobby

Hey guys, my apologies. I just realised what I have said and it does seem selfish of me. Sometimes I do forget that I am one of the eldest on this forum and I do hope that I am recognised as someone who is passionate about HPI.

I guess my experience comes from the days when buying a place was pretty easy. wage inflation and all of that. The great promise of a decent retirement by sticking away a few quid.

Maybe as someone older, I am feeling the fear of what is going on around me. Right now, it would be possibly unlikely that I wouldn`t get another job should my contract came to an end.

Again, sorry folks if I have spoken out of order.