First Direct swamped by lifetime tracker mortgage applications

DervProf

Really2 wrote: »

Ok Cool so dont take out a mortgage if their is a know risk that is detrimental your employment. (could not agree more)

I agree, but also I would say to anyone is make sure you can cover yourself should anything happen.

You are far more likely to lose your job etc in the 24 years+ after you sign the mortgage than you are in the forseeable future.
A buffer or insurance is fare better for covering the unkown.;)

We are getting there !

I`d say that for most people there is no way of making 100% sure you can cover yourself for the whole of the mortgage term. There are ways of minimising risk and providing yourself with some sort of cover though. Mortgage protection insurance is one possibility. The other thing to consider is making sure that you can afford to save a little (or a lot) each month, so at least you have some spare money to cover mortgage repayments should the unforseen happen. With house prices being so high now (another can of worms opened there), the prospect for saving is not so good for FTBers. Low interest rates should, in theory, enable more people to save more, but are they doing so ?

Really2

DervProf wrote: »

There are ways of minimising risk and providing yourself with some sort of cover though. Mortgage protection insurance is one possibility. The other thing to consider is making sure that you can afford to save a little (or a lot) each month, so at least you have some spare money to cover mortgage repayments should the unforseen happen. With house prices being so high now (another can of worms opened there), the prospect for saving is not so good for FTBers. Low interest rates should, in theory, enable more people to save more, but are they doing so ?

I decided wage insurance was better, there is a pressure with mortgage protection to take any job. You may as well cover all outgoings if you can.

I can only go off what I am doing, so yes I am overpaying/ saving like a mad man still.

DervProf

Really2 wrote: »

I decided wage insurance was better, there is a pressure with mortgage protection to take any job. You may as well cover all outgoings if you can.

I can only go off what I am doing, so yes I am overpaying/ saving like a mad man still.

I can`t argue with your strategy. It`s what I did (the overpaying/saving bit), and it now seems to have been a good strategy (for me).

Graham_Devon

Really2 wrote: »

You don't like the thread or the article,

Thanks for letting me know. :undecided

it is fairly obvious GD. You have not even posted about the article. Just tried the old chip here and there at someone.

You do it every time you don't like an article.

The very first word in this whole thread was my name, followed by some kind of dig.

Do you not like the article either then?

Really2

Graham_Devon wrote: »

The very first word in this whole thread was my name, followed by some kind of dig.

It was just making sure it complied with your posting directives you set out yesterday.:)

Cleaver

Really2: Just found an article about a great sandwich deal at my local shop. Nice ciabatta, can of pop and a luverly bag of crisps for £2.50. Seems a bit of a steal, so thought I'd post it up here.

Response 1: What if the bread's mouldy? I don't like mouldy bread. Not the deal for me, sorry.
Response 2: You could get hit by a car on your way to get that sandwich, I don't think people think these things through.
Response 3: Metal poisoning from tin cans is on the rise, and it's only fools that buy cans nowadays.
Response 4: I had food poisoning in 1987 which I think was from some dodgy ham. I notice on their website that some of their sandwiches have ham in them, so this is a deal I'd prefer to stay away from.
Resonse 5: People who buy in to these kinds of deals are neglecting to think about their health in the future. I'd suggest they eat granola instead and stay healthy.
Response 6: Can I swap the crisps for chocolate? I'd prefer chocolate really. Seems a poor deal.
Response 7: What if I injure myself on the ring pull of the can?
Response 8: Will this deal be on next week? I won't want a sandwich until then.
Response 9: I don't know if I'll have a job tomorrow, I can't be wasting money on these deals.
Response 10: Isn't there a meteor shower tomorrow? That'll stop me getting to this shop.

Euphoria1z

lol @ cleaver!

DervProf

Cleaver wrote: »

Really2: Just found an article about a great sandwich deal at my local shop. Nice ciabatta, can of pop and a luverly bag of crisps for £2.50. Seems a bit of a steal, so thought I'd post it up here.

Response 1: What if the bread's mouldy? I don't like mouldy bread. Not the deal for me, sorry.
Response 2: You could get hit by a car on your way to get that sandwich, I don't think people think these things through.
Response 3: Metal poisoning from tin cans is on the rise, and it's only fools that buy cans nowadays.
Response 4: I had food poisoning in 1987 which I think was from some dodgy ham. I notice on their website that some of their sandwiches have ham in them, so this is a deal I'd prefer to stay away from.
Resonse 5: People who buy in to these kinds of deals are neglecting to think about their health in the future. I'd suggest they eat granola instead and stay healthy.
Response 6: Can I swap the crisps for chocolate? I'd prefer chocolate really. Seems a poor deal.
Response 7: What if I injure myself on the ring pull of the can?
Response 8: Will this deal be on next week? I won't want a sandwich until then.
Response 9: I don't know if I'll have a job tomorrow, I can't be wasting money on these deals.
Response 10: Isn't there a meteor shower tomorrow? That'll stop me getting to this shop.

Response 11: :rotfl:

And yes the meteor shower is tonight. We`ll probably only see a rain shower though. Not only would I recommend that nobody takes out a mortgage, ever, I`d also recommend not bothering to go outside to see the meteors. You`ll only get wet, end up catching a cold, and this could lead to complications and almost certain death.