Has anyone taken on a big mortgage past middle age?

sulphate

makeitstop wrote: »

So if someone earns £80K a year, with a partner earning £50K a year, then does a £150K mortgage sound a lot.???

Really, get some sense into your posts eh.?

Realistically though, most people who live in a house worth £90k will not be earning a combined income of £130k.

My in laws have been mortgage free for a couple of years - they are in their late 50s/early 60s and are in the process of moving to a bigger house (that they don't need - no kids at home - they only had one anyway) and are taking on a mortgage again, albeit a much smaller one than £140k, even though they were talking about retiring soon! Personally as I said previously I'd rather spend the money on my children.

ognum

I have now back read the OPs posts from January regarding her and her husbands finance and think I can now relate better to why she cannot understand how people can take on debt in their 50s.

It is easy to forget we do not all come from the same place, physically or mentally so good luck to the OP, I understand now why it's not for you.

CH27

Shoey1610 wrote: »

I don't understand how you owned a big 3/4 bedroom house 5 years ago and are now in a HA bungalow. Either you had a big mortgage yourself and couldn't maintain it or you are now sitting on a pile of money in a HA property.

If it is the first situation, that makes you a hypocrite, if it is the second, it makes you an @rse.

Health issues can make a move to an adapted bungalow necessary.

eamon

In many parts of the country many HA's offer retirement flats/bungalows to the over 55's and in the affordablity scales they can be very tempting. I can understand where the OP is coming from and also much of the criticism. I'm 52 and in 18 months will be mortgage free with no dependents. When I get current house done up I'll be trading down and renting a HA property will be one of things to be considered. I'd rather live the lifestyle than be hampered by it. As mentioned in many other threads its doesn't take much of a personal catastophre to play havoc with your financial plans. But by nature I'm not a risk taker.

jaylee3

makeitstop wrote: »

So if someone earns £80K a year, with a partner earning £50K a year, then does a £150K mortgage sound a lot.???

Really, get some sense into your posts eh.?

Wow, I don't think the OP is the one that needs to get 'sense' into her posts. For a start, hardly ANY couple earns £130,000 between them, Many couples don't earn a quarter of that between them! Only on planet 'MSE bullsh*tter.' :rotfl:

And the OP said that the average wage in her area was only about £900 a month, so only just over £20,000 a year total income. Not EVERYbody earns the half a million a year that people on HERE claim to earn! :rotfl:

Talc1234 wrote: »

Rarely have I seen such a moronic post. Don't be so critical, it really isn't your business.

What a silly post. This is a public message forum, and this is a discussion board, so this EVERYbody's business. And just because you don't agree with me, that doesn't make it 'moronic. Don't post unless you can post something sensible!

And as for the comment by shoey1610 (post 36, quoted above in post 44: ) ^^^ No wonder people are reluctant to post on here when people post such nasty, spiteful, vitriolic and judgemental posts!

AdrianC

jaylee3 wrote: »

Wow, I don't think the OP is the one that needs to get 'sense' into her posts. For a start, hardly ANY couple earns £130,000 between them, Many couples don't earn a quarter of that between them!

Average salary is £26,500, or £53,000 between a couple. In some parts of the country, £130k household income before tax is far from unusual.

Only on planet 'MSE bullsh*tter.' :rotfl:
...
No wonder people are reluctant to post on here when people post such nasty, spiteful, vitriolic and judgemental posts!

<cough>

AdrianC

Anyway, since when was 55 "past middle age"...?

jaylee3

AdrianC wrote: »

Anyway, since when was 55 "past middle age"...?

What age is past middle age in YOUR opinion then?

jaylee3

AdrianC wrote: »

Average salary is £26,500, or £53,000 between a couple. In some parts of the country, £130k household income before tax is far from unusual.

Most households in this country would NOT earn that level of income. (£130,000 a year!) Seriously. Stop talking nonsense.

AdrianC

ognum wrote: »

I have now back read the OPs posts from January regarding her and her husbands finance and think I can now relate better to why she cannot understand how people can take on debt in their 50s.

It is easy to forget we do not all come from the same place, physically or mentally so good luck to the OP, I understand now why it's not for you.

Indeed. That thread does explain an awful lot about the OP's outlook.

jaylee3 wrote: »

What age is past middle age in YOUR opinion then?

Retirement.
<thinks> Actually, no, not even that. Some people retire early. Some retire well into their dotage. There is no "fixed age". It's all about attitude.

jaylee3 wrote: »

Most households in this country would NOT earn that level of income. (£130,000 a year!) Seriously. Stop talking nonsense.

Would you be so kind as to point to where anybody suggested "most households in this country" would earn that? If you do, I'll be only too happy to apologise. Can I assume you'll be equally happy to apologise if you can't?