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.
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Reply to: Best mortgages? Where?
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Previously on "Best mortgages? Where?"
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Guest replied
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Guest replied"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).
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Guest repliedIn 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.
Franco, at the very least put down a whopping deposit.
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Guest replied"3 entries found for patrimony"
My mistake, Milan. I should have talked about assets indeed.
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Guest repliedlucifer,
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+.
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Guest repliedI have spotted a nice house I want to buy to live in. I can easily afford to buy it without taking out a mortgage.
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Guest repliedNo pain no gain
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).
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Guest repliedEver 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.
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Guest replied"but I am very content to have no mortgage and no debt beyond"
No pain no gain
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Guest replied3 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.
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Guest repliedYou have married my wife, and I claim my fiver.
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Guest repliedfeck'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.
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Guest repliedno debt beyond whatever Mrs Lucifer has spent on her cards this month
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Guest repliedAlways good to have a mixture of own and borrowed capital
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Guest replied"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.
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