What's next?

[DS23]

The brave princes William & Harry will be allowed to fly in once the town has been taken....

along with their grandmother. then we will be able to say "ma'am's gone to iceland"

[PRC1964]

along with their grandmother. then we will be able to say "ma'am's gone to iceland"

[DS23]

:d

[TimberWolf]

:d

[Cyberman]

Well the UK and US are both likely to have new governments at around the same time, which is hardly great as far as having experienced people in charge goes. You know what new bosses are like... they like to change things just to prove they are in charge.

I'm fed up with having experienced liars in power.

[The Lone Gunman]

What is the definition of "win" in a war against Iceland?

Couldn't we just call in their loans and repossess it?

[bernie]

Gordon Brown saves the day but I have an uneasy feeling. My instincts tell me that all he's done is messed around with nationalisation and done nothing to address the underlying problem: all that debt and inflated asset value is still there.

Is another financial timebomb not far away, worse than this one? And if so, what will trigger it?

What next ? The plethora of Endowment mortgages and their investment vehicles maturing in the next 5-10 years with pitiful shortfalls.

And while I am on the subject of mortgages does anyone on this forum have an offset mortgage ? Perhaps in the present climate it would be wise to convert to the more traditional type of mortgage

[Cyberman]

What next ? The plethora of Endowment mortgages and their investment vehicles maturing in the next 5-10 years with pitiful shortfalls.

And while I am on the subject of mortgages does anyone on this forum have an offset mortgage ? Perhaps in the present climate it would be wise to convert to the more traditional type of mortgage

An offset mortgage is one of the greatest inventions. Any payments in, immediately reduce capital amount and thus interest payable, which is calculated daily, whereas repayment mortgages do not have this advantage.

Also, if the bank goes bust your savings are netted against the mortgage, so you would never lose your savings.

[bernie]

An offset mortgage is one of the greatest inventions. Any payments in, immediately reduce capital amount and thus interest payable, which is calculated daily, whereas repayment mortgages do not have this advantage.

Also, if the bank goes bust your savings are netted against the mortgage, so you would never lose your savings.

Ahh! but if the bank goes bust . Your savings netted against the mortgage might not be what you want , especially if you have little, no other investments .It would also be interesting to know if the total offset ,whether £50,000 or more is covered by the FSA

[Cyberman]

Ahh! but if the bank goes bust . Your savings netted against the mortgage might not be what you want , especially if you have little, no other investments .It would also be interesting to know if the total offset ,whether £50,000 or more is covered by the FSA

... but they would still chase you for the net sum of your mortgage, so if your savings were not netted they'd simply be chasing you for more.

if mortgage is 1 million and savings are 500,000 pounds you are only liable for the net 500,000 if the bank goes bust, so the effect is that you are actually covered for your full 500,000 pounds savings. That is a massive advantage of an offset mortgage, because outside of this framework you are likely to lose 450,000 pounds.