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Cash-strapped families switch £60bn-worth of mortgages to interest-only
Comments
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jeeeesus, you really are slow. where these numbers come from is exactly what dervprof and i are discussing which is what i questioned shorchanged about how these numbers were calculated.Graham_Devon wrote: »The average of all mortgages is 109k.
The average of those struggling and converted to IO (the 300,000) is 200k.
There. Simple.0 -
if it makes you feel better because i know your needs make you need to be made to feel better - you're right dervprof, chucky is wrong. does that make it better for you...
It makes no difference to me. You've already avoided the question and come back to it from a different angle.
I can tell you are a person who hates to be shown to be wrong. I think it makes you feel better to tell others that they are wrong, and you think you are always right. Trying to discredit shortchanged by misquoting the article was poor. I pointed that out, and you threw a slight wobbly. You are doing exactly what you accuse others of doing.30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.0 -
that's because you were wrong.Graham_Devon wrote: »I deleted what I posted as I knew you would come back with what you did, and realised I was just handing you something to start with on a plate.
I was simply describing what you asked me to describe however. If I ignored it, you would accuse me of squirming. If I answer, you accuse me of talking about something else (even though you asked for it).
how can the total mortgage loan amount outstanding for a repayment mortgage be different to that of an interest only mortgage.
all that changes between the two is the monthly amount that you pay be it capital plus interest or just interest.
do you understand how your mortgage works?0 -
not at all, i've asked you a couple of times now and still you don't seem to be 'able' to come back with the question that you were asking.It makes no difference to me. You've already avoided the question and come back to it from a different angle.i can't bothered to search for it as i said previously i don't really know the question you're asking.
i've told you before, you're a rubbish online psycoanalyst. don;t give up your day job...I can tell you are a person who hates to be shown to be wrong. I think it makes you feel better to tell others that they are wrong, and you think you are always right. Trying to discredit shortchanged by misquoting the article was poor. I pointed that out, and you threw a slight wobbly. You are doing exactly what you accuse others of doing.0 -
jeeeesus, you really are slow. where these numbers come from is exactly what dervprof and i are discussing which is what i questioned shorchanged about how these numbers were calculated.
That wasn't what you originally asked.
Why are you so intent on finding where these numbers come from now?
Your original point was that the journalist was wrong, as the averages didn't match.0 -
OK chucky, there wasn't a question, as such, more of a statement. I'll post the quotes, then all will be made clear......well i was trying to get some more info out of you to see if you actually understood what the article actually meant...
let's do the basics for you... from the article.
that would be £60,000,000,000 right... with 300,000 mortgage owners switching to interest only. that would be an average mortgage of £200,000. ok fine.
then the next paragraph says that the average mortgage is £109,000
so which is right?
so when i try to smell the coffee i can't really because the article is rubbish and as for your intelligence... let's just leave that one there. nuff said on that one
My comment........Both are right (or are right if the data collected is correct).
It is your intelligence that might be a bit rubbish.
Your first reply to me.......here we go, desperate prof has arrived taking the usual sides trying to divert attention from his 'on-line buddy' shortofintelligence.
And I tried to get you to defend/discuss your original comments.....Here we go, chucky avoiding answering the allegation.
I wonder if you can defend what you wrote ?
I say you got it wrong. You come back with a diversion.
Discuss the point I made, or it is you who is diverting attention.
Now you are saying that the stats were "hashed together". I'm didn't say they were or weren't, I raised the issue that you were questioning which of the two stats were right.30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.0 -
no my original point was that i wanted to know how many was many and how it was reached. which is exactly what i asked here.Graham_Devon wrote: »That wasn't what you originally asked.
Why are you so intent on finding where these numbers come from now?
Your original point was that the journalist was wrong, as the averages didn't match.how many is many?
and here's exactly what i followed up with when shortchanged did his usual avoid the answerhow many is many?
you two must be very desperate to spend 50 posts trying to catch chucky out with all your saying i posted this or i didn't post that.0 -
Graham_Devon wrote: »Do you understand it?
The debt on a repayment mortgage is larger because you are repaying the capital aswell as the interest.
The debt on an interest only mortgage will be lower, because you are only paying the interest.
Therefore switching the debt from repayment to interest only turns an average 200k debt to an average 109k debt.
That will be the reason for the difference. That's why the payments become smaller.
Pretty poor chucky, for someone who questions everyone elses intelligence.
Superb....0
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