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My Interest rate gamble pays off again!
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RenovationMan wrote: »Oh, I can almost feel the jealousy oozing out of the screen as I read this post.
I think you find that what is oozing out of your screen didn't actually emerge from it, but was deposited there shortly after midday.
No clean yourself up and go and make sure your mortgage is up to date.30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.0 -
And why would you want such a big house to retire in, just more to clean (which is the last thing I want in old age).
Oh no. :eek:
Too late, you've asked for it now.30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.0 -
Graham_Devon wrote: »Not really a gambling then is it.
If you want to tell us your balls are stupendously larger than the next persons because of your gamble....it aint wise to then water the gamble down like that.
Well it was as I had to stump up money based on a hunch I could make it back (a fairly clear hunch no one was seeming to look at at the time). There was no guarantee the base rate would go so low or stay low for so long.
It was a lot smaller gamble to do it in a bust than in a boom I grant you that. But then a lot did take the P!ss out of me for buying in 2008?
And graham, I think you are missing out on it being a joke talking about balls.
I don't want a pat on the back, I was just showing how different the idea of risk was back then.
I can Dig the post out if you like?0 -
RenovationMan wrote: »STOP PRESS- Middle aged man owns 2 bed house that he bought cheap in 1995 and lived in ever since .--- :rotfl:
And quite happy with what I have.
Not so happy that many of the younger generation probably won't be as fortunate as what I have been.
What is really sad is that you seem to be trying to mock me because you claim to have more possessions.30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.0 -
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This post really did hit me as a person who needs belongings to be happy.
Personally I will be buying a 3 bed semi and spend the rest of my life there I will be perfectly happy as there is more to life than having more than the joneses, true happiness comes when you don't even register what the joneses are doing anymore.
And why would you want such a big house to retire in, just more to clean (which is the last thing I want in old age).
It doesn't seem like you took a massive gamble but glad it working out for you.
Good luck with your future house purchase, Percy. I felt the same as you when I first bought a home, though it was smaller (2 bed, not a 3 bed) but once you get onto the ladder, and especially if your income increases significantly along the way, you may find that the three bed isn't quite as nice as the four bed with a larger garden for the kids... etc. etc.
In my case I wanted to have a house where my folks could live with us and we could take care of them when they get old and frail, plus we wanted some land as we want to grow our own food. The 2 bed house I started with was just fine for me, but then a wife and 2 kids came along. The 4 bed house we bought was nice but had an ordinary sized garden and no space for veggies (and definitely no space for my parents). The third house I bought is just right.
For now anyway. When my folks and kids depart then the house will not be just right and so we will move again.
Hence we won't be living here when we retire. We plan to downsize and use the tax free equity to either buy a nice retirement cottage or, if we are up to the challenge, we would like to build our own home to passiv haus standards.
Don't worry to much about my OTT comments to DervProf, he is the one who is always going on about my house, I'm just having a poke at him. All I really want is for my wife, kids and parents to have a comfortable life, to grow as much of our own food as possible (we are looking at chickens and bees at the mo) and have as light a footprint on the planet as we can but still have a modern lifestyle. 0 -
And quite happy with what I have.
Not so happy that many of the younger generation probably won't be as fortunate as what I have been.
What is really sad is that you seem to be trying to mock me because you claim to have more possessions.
If you are so happy then why do you always have to pass comment on what I am doing?
When I see the bulls talking abot their BTL's I just think "It's notwhat I would invest in but good luck to em, they took a risk and it seems to be paying off".
When I see the bears talking about house price falls I just think "Good luck to em, they want to get the best house they can afford".
When you see others doing well, you seem to get very annoyed and 'shout at them' for daring to mention it on a public forum.0 -
lostinrates wrote: »We took the gamble too. So far so good. We'll see how it feels when it comes to the end of this tracking term....I think we'd like to fix at the end of that.
We're in the same situation except it's a lifetime tracker.
Not looking to fix anytime soon obviously, and I doubt we'll do it even when rates eventually get hiked for the first time. I think if we were coming to the end of a term like you are we'd have a dilemma on our hands tho.0 -
RenovationMan wrote: »If you are so happy then why do you always have to pass comment on what I am doing?
You seem to be suggesting that I am not happy with what I have, and therefore am always commenting on what you are doing.
My critisism of you is that you get quite a lot of things wrong and that you seem to persist in telling the forum, in quite a lot of detail about your good fortune. Now that sounds like boasting to me. Earlier, you did tell me that I don't have much to boast about (I might, or might not have, but I choose not to). Now although you obvisouly think that I'm jealous, or would like me to be jealous, I can honestly say that I am not jealous of anyone, let alone you. The reason that you (and a few others) attract my attention is that they boast, or are full of themselves. This is not a very nice trait in my opinion, and I think a few others would agree that boasting, and trying to put down others who may not have as much wealth/possession as others is a rather unpleasant characteristic. Now, you may say, quite rightly, that this is an open forum, and therefore there is nothing wrong with behaving like this. I'd agree, there is nothing wrong with it, but don't complain if others like myself have a "pop" at you for doing so.
I know people that a far wealthier than myself, and certainly more wealthy than you. They mostly seem like pleasant individuals (although they may "big it up" on anonymous forums for all I know). I also know people that don't have the wealth that I have, but there is no way I would belittle them or try to make them feel jealous by telling them how much money I have in the bank, or equity in my house. It would just make me look like a Richard.30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.0 -
We're in the same situation except it's a lifetime tracker.
Not looking to fix anytime soon obviously, and I doubt we'll do it even when rates eventually get hiked for the first time. I think if we were coming to the end of a term like you are we'd have a dilemma on our hands tho.
We looking at a 5 year fix when we come out of our current deal. We will also go from interest only to repayment, though this is dependant on how well the overpayments are going.
If I were on a low rate lifetime fix, I'd be tempted to stay put too, especially if I didn't really need the security of fixed rates.0
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