What's the size of your mortgage?

[sasguru]

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?

[SupremeSpod]

Where's the "What's it to you, you sad boring repetitive bastard!" option?

[Doggy Styles]

That kind of mortgage sounds utterly bonkers. I felt uncomfortable when I owed 100K.

No wonder he's one of your 'old mates' and not a current one.

[Doggy Styles]

Not sure about your gradations there. 0 to 100K doesn't do justice to my measily two thousand pound mortgage.

[sasguru]

Where's the "What's it to you, you sad boring repetitive bastard!" option?

[MarillionFan]

I have a 425k interest only mortgage at 0.98% interest

I also have roughly that amount invested into other property, a building plot, ISAs, long term bonds, shares & some savings accounts at around 5% interest.

Only an idiot would pay their mortgage off at the moment, when they could invest the funds elsewhere and get a better return.

[sasguru]

No wonder he's one of your 'old mates' and not a current one.

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

[Mich the Tester]

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?

Lots of people have these loony mortgages here in NL, mostly taken out during the late 90s, early 2000s and combined with endowment policies that are so scandalous the insurers who developed and sold them should be in prison; the tulip will be hitting the fan over the next 15 years as people find they can't pay off the outstanding debt. That will hit the value of everybody's assets, so imho the only thing to do is avoid viewing the house as an investment, pay it off aqap and perhaps grab a bargain before hopefully some day going into semi retirement.

How many are on the brink? Do you mean how many individuals or how many entire countries?

[sasguru]

Lots of people have these loony mortgages here in NL, mostly taken out during the late 90s, early 2000s and combined with endowment policies that are so disastrous the insurers who developed and sold them should be in prison; the tulip will be hitting the fan over the next 15 years as people find they can't pay off the outstanding debt. That will hit everybody's assets, so imho the only thing to do is avoid viewing the house as an investment, pay it off aqap and perhaps grab a bargain before hopefully some day going into semi retirement.

How many are on the brink? Do you mean how many individuals or how many entire countries?

If enough individuals are, then their countries are ...

[Mich the Tester]

If enough individuals are, then their countries are ...

If you're about to say 'fooked', I agree.