What happens went they want your Mortgage money?

[OwlHoot]

Maybe you needn't be minted provided there's some deferred equity release aspect whereby you have a negligible interest rate but the bank or building society claim some or all of the property equity when you pop off?

[WTFH]

But if you do that, how do you pay for your EOL care in a home?

[dx4100]

if my mortgage was at 2% from 30 years old it would be the equivalent of £20 a week when I'm 80.

What about 30 to 80 ?

[vetran]

What about 30 to 80 ?

initially it will be a significant part of salary then it will fall to peanuts.

in 10 years my mortgage fell from about half of my take home to about a quarter. Money gets devalued & wages go up.

[The_Equalizer]

initially it will be a significant part of salary then it will fall to peanuts.

in 10 years my mortgage fell from about half of my take home to about a quarter. Money gets devalued & wages go up.

But nothing like in the 80s and 90s with inflation running at about 0.5%-ish. This is the real rub, buying an expensive house in a low inflation period means you're paying more for longer.

[vetran]

But nothing like in the 80s and 90s with inflation running at about 0.5%-ish. This is the real rub, buying an expensive house in a low inflation period means you're paying more for longer.

Bought in the 80's & the 90s.

My salary / hurly rate rose during that period as I progressed in jobs.

combine with Housing costs rising and 5% inflation (headline rate) over 10 years I was paying peanuts for a 4 bed house.

[The_Equalizer]

Bought in the 80's & the 90s.

My salary / hurly rate rose during that period as I progressed in jobs.

combine with Housing costs rising and 5% inflation (headline rate) over 10 years I was paying peanuts for a 4 bed house.

Indeed. I'm sure the vast majority that take out a mortgage purely judge it on the monthly payment. We've had no increase in base rate for over eight years. If you take out a mortgage today, you're probably going to pay a real chunk of money out of your income for a very long time.

[dx4100]

Indeed. I'm sure the vast majority that take out a mortgage purely judge it on the monthly payment. We've had no increase in base rate for over eight years. If you take out a mortgage today, you're probably going to pay a real chunk of money out of your income for a very long time.

When we do have an increase in base rates I think a lot of the country are going to find they can't make the payments. Going to be a right sorry mess.

[eek]

When we do have an increase in base rates I think a lot of the country are going to find they can't make the payments. That will be the time to invest

FTFY it will be for some while for others

[dx4100]

FTFY it will be for some while for others

You make a good point g

Pass me the popcorn