Reply to: Best mortgages? Where?

it's not that I don't agree with mortgages perse,

and I guarantee, in the not too distant future, say next five years I will invest in some property using mortgages, but at the moment there is no need and I don't want to load my self with the worry of the debt

Traj you are absolutely correct about the gearing it is like spread betting instead of holding paper, you get more leverage for the same investment - but also more exposure and more risk

everything in moderation, and within the next five years, considering the capital appreciation in respective markets I would be a fool not to buy something on a mortgage

Milan.

"I have spotted a nice house I want to buy to live in. I can easily afford to buy it without taking out a mortgage. So, do I:

a) Pay for it with cash and have done with it.
b) Take out a mortgage and end up paying significantly more than it's listed value over the next 25 years.

Clue: I went for a). "

I chose a) and b).

In the current climate you made the correct choice as the best investment was the (6% or whatever) mortage rate you would have had to pay had you taken a loan.

Traj, it was, indeed, a no brainer.

Franco, at the very least put down a whopping deposit.

"3 entries found for patrimony"

My mistake, Milan. I should have talked about assets indeed.

lucifer,

In the current climate you made the correct choice as the best investment was the (6% or whatever) mortage rate you would have had to pay had you taken a loan.

A+.

I have spotted a nice house I want to buy to live in. I can easily afford to buy it without taking out a mortgage.

You b@stards just keep rubbing it in, don't you

No pain no gain

Okay, let's ask the jury for an independent opinion.

I have spotted a nice house I want to buy to live in. I can easily afford to buy it without taking out a mortgage. So, do I:

a) Pay for it with cash and have done with it.
b) Take out a mortgage and end up paying significantly more than it's listed value over the next 25 years.

Clue: I went for a).

Ever heard of the term "gearing" milan.

At the moment it's probably not worth getting a mortgage becuase there's not a lot around to invest in. Property heading south, shares heading, well nowhere.

If it wasn't for a huge mortgage or two in the past the "traj millions" would not be in existance today.

And no I don't have a mortgage now on any of my properties.

"but I am very content to have no mortgage and no debt beyond"

No pain no gain

3 entries found for patrimony.
pat·ri·mo·ny ( P ) Pronunciation Key (ptr-mn)
n. pl. pat·ri·mo·nies

An inheritance from a father or other ancestor.
An inheritance or legacy; heritage.
An endowment or estate belonging to an institution, especially a church.


that's where you're wrong Franco,

whatever I have achieved is made from my own work thanks.

Milan.

You have married my wife, and I claim my fiver.

Do you want her back?

feck's sake Franco,

the nail in the coffin to endless bliss as a permy....

a mortgage !

next you'll be buying your car on the never never too

Milan.

no debt beyond whatever Mrs Lucifer has spent on her cards this month

You have married my wife, and I claim my fiver.

Always good to have a mixture of own and borrowed capital

Each to his own, Franco, but I am very content to have no mortgage and no debt beyond whatever Mrs Lucifer has spent on her cards this month, and feel no real need to acquire any borrowed capital.

"pack in the permie job and get a contract. You won't need a mortgage then"

Always good to have a mixture of own and borrowed capital. Otherwise, you lose on the potential revenues. Only someone with small business acumen like Milan would only count on his own patrimony.

I am a a contractor in a long-term contract, pls. *

*Although it makes you feel strange that someone is rating you. I guess you are supposed to be better to rate someone. Therefore, we should have contractors rating permies but that would never happen.