My Interest rate gamble pays off again!

chucknorris

chucky wrote: »

You're right, others spent time on an internet forum complaining about house prices being too expensive and interest rates should be raised...

But they would have gotten away with it if it hadn't of been for that pesky Mervyn King.

Percy1983

wotsthat wrote: »

I think it paid off to be honest and he now lives happily (with a 5 year fix) in a house that is so super insulated a single fart will keep it warm all winter.

Some people really grasped the opportunities that the recession presented.

Or were just lucky enough to be on a low tracker when it all kicked off.

The recession hasn't gave me many opportunties but it has proven my business seems reasonably resession proof which is nice.

The only gamble I have is I am on a 5 year fix, so if rates don't ris in the next 3.5 years I could have got it cheaper, but hey ho, it will be 5 years down eitherway.

chucky

Percy1983 wrote: »

Or were just lucky

This is the biggest issue with the frothers on this forum, they can never be happy with other people doing well...

Percy1983

chucky wrote: »

This is the biggest issue with the frothers on this forum, they can never be happy with other people doing well...

I have no problem with them doing well, its when people got lucky and trying claiming it was anything but luck.

I bought my house at the bottom of the dip, it was nothing but luck that the bottom of the dip fitted with when the deposit was ready.

I could pretend I saw it coming and started a plan 3 years earlier to meet the dip but why bother.

chucky

Percy1983 wrote: »

I have no problem with them doing well, its when people got lucky and trying claiming it was anything but luck.

That makes no sense.

No person invests £300k or whatever it was in property or a mortgage product without taking an educated risk. It has nothing to do with luck, it's making an informed choice. If you read his post, he made a very informed choice of what he decided to do.

Being jealous of someone who has made better deicisions or who has done better than you is a terrible trait to have. It's disgusting even.

wotsthat

Percy1983 wrote: »

I have no problem with them doing well, its when people got lucky and trying claiming it was anything but luck.

Read the first page. He explained the gamble he took, why he took it, the reasoning behind it and were were able to watch in real time.

The word 'gamble' implies that some luck was required but no risk = no reward.

Mr._Pricklepants

Percy1983 wrote: »

I have no problem with them doing well, its when people got lucky and trying claiming it was anything but luck.

I bought my house at the bottom of the dip, it was nothing but luck that the bottom of the dip fitted with when the deposit was ready.

I could pretend I saw it coming and started a plan 3 years earlier to meet the dip but why bother.

Look Percy, we all know you got lucky because you found a good soul who took on your credit card debt, so don't lecture us about luck, okay?

Percy1983

chucky wrote: »

That makes no sense.

No person invests £300k or whatever it was in property or a mortgage product without taking an educated risk. It has nothing to do with luck, it's making an informed choice. If you read his post, he made a very informed choice of what he decided to do.

Being jealous of someone who has made better deicisions or who has done better than you is a terrible trait to have. It's disgusting even.

I can't remember being jealous of him, I will say the odds on me ever getting a chance of taking such a small risk for such a big reward may never present itself to me but as long as I get by and don't regret the choices I make I can be more than happy.

Mr._Pricklepants wrote: »

Look Percy, we all know you got lucky because you found a good soul who took on your credit card debt, so don't lecture us about luck, okay?

I still find it hard to see how transferring debts BOTH WAYS between to loving adults to reduce both interest bills to speed up the process of house buying and marriage is so morally wrong, anyway moving on.

I many respects me going a tracker now would have been a greater risk for very little reward, it could have saved a small amount each month but interest rates can only go up from here so great risk and little reward, hence I chose to fix for 5 years (on an impossible to get mortgage apparently).

My point is yes reno man and many other took a small gamble at the time as interest rates could go a little up or down, the gamble as do you save a little but risk a potential small rise, then boom 0.5%, lucky as hell.

As said I made similar choice with a a couple of grand in it, but there is no way I could get a 4.5-5% reduction in my interest rate is there.

chucky

Percy1983 wrote: »

I can't remember being jealous of him

Your jealous posts tell us something else.

Percy1983

I will say if my posts come across as jealous that really is my intention or feeling.

I suppose the problem is to gloat about benefits to many people who haven't got those benefits not because not because they made the wrong choice but because the choice was never available to them.

IE if my business makes it first million, I would have every right to gloat as I built it from tools available to anybody + hardwork, seriously any of you could do the same if you had the same ideas and imagination.

I suppose the point of no jealousy comes from I have a home which I will own in 23.5 years, my choices are limited now but I may get chances to make massive saving in the future, but likewise I don't need massive savings on the mortgage and probably never will so it won't be disaster if things stay the same.