What's the size of your mortgage?

[d000hg]

Was shocked to discover that an old mate who I hadn't seen for years and years had a £500K interest-only mortgage with no chance of paying it off, FFS
When I told him I was not only mortgage free but earning a regular income from property, you could tell he was deeply envious.
Which led me to start thinking - how many people are there on the brink like that?

I think you should have had separate "no mortgage/paid it off" and "<£100k" options... we still have a £60k mortgage on the first house we ever bought for £65k!!

[Mich the Tester]

I always thought NL was the pinnacle of financial probity like the GErmans. that's what our press will have us believe anyway.

Unfortunately not. They're just good at pretending.

Five governments have collapsed in the last 10 years. Government deficit at 4.6%. Government has no majority since Apri after wasting 2 months trying to get the anti-muslim party to agree to cuts in spending, election delayed until 12 September due to idiots believing the national football team would be playing in the European Cup final in June (yep, really), and the Socialist Party (no, not Labour, the former Communist party) is leading the polls, with Geert Wilders and his bunch of knuckle dragging hicks in second place. Millions of people with rotten endowment mortgages, pension funds with less than 90% coverage for their outgoings, unemployment rising fast as government cuts hit, there isn't much good news except that German exports are holding up (growing even). Oh, and still no agreement to raise pension age.

Not exactly a picture of stability.

[moggy]

Good university friend just contacted me on facebook.
Lost touch as he got some high flying job in NY soon after graduation. Go figure.

some one you haven't spoken to in ages contacts you on facebook and then states he has a 500k interest only mortgage.. hmmmm

[sasguru]

some one you haven't spoken to in ages contacts you on facebook and then states he has a 500k interest only mortgage.. hmmmm

We went for a few bevies, cretin.
HTH

[moggy]

We went for a few bevies, cretin.
HTH

I sincerely doubt you have anyone that wants to drink with you walter

[DodgyAgent]

Gis a job then? I could do that.

Sorry DP but my brilliant new business model is "find your own job" and pay me 20% of your earnings.

Its a sure fired winner

[sasguru]

I sincerely doubt you have anyone that wants to drink with you walter

ooh 'ark at the sockie. Whose is this one then?

[doodab]

Sorry DP but my brilliant new business model is "find your own job" and pay me 20% of your earnings.

You've joined the government?

[DodgyAgent]

You've joined the government?

[Old Hack]

3 houses, 192k in mortgages.

I have a friend with dual income of about 100k with a 550k mortgage, interest only. Was locked into a 5 year 5% fixed interest until early this year. Only just started to look like he was human.

Pop that interest rate up to 5 again and I think you'd see mass defaulting.