Reply to: Oh Dear: Interest only mortgages

[mudskipper]

..complain about it and get there mortgage changed and the endowment cancelled (this basically put you back to where you would have been without the endowment) ...

What we did. Was fairly painless and got back a lot more than I expected.

[MarillionFan]

Why not consider an Paki-Mosque for the end of your garden?

HTH

Churchill

ftfy

[shaunbhoy]

The cycle for recent miscreants appears to be:

Banned
Return
<count 10>
Re-banned

So if we don't get to speak before your next holiday... you're a ****


HTH

Well you'd know all about cycles, you menstrual koont!

[Troll]

I've had worse. The food was good, and at least the cell next door wasn't occupied by a gurning slack-jawed wobbly-spined loser with paternal rejection issues. So that was something.

The cycle for recent miscreants appears to be:

Banned
Return
<count 10>
Re-banned

So if we don't get to speak before your next holiday... you're a ****


HTH

[shaunbhoy]

Welcome back Shaun

how was the goulag

Milan.

I've had worse. The food was good, and at least the cell next door wasn't occupied by a gurning slack-jawed wobbly-spined loser with paternal rejection issues. So that was something.

[milanbenes]

Welcome back Shaun

how was the goulag

Milan.

[shaunbhoy]

With no mortgage anymore I'm just looking at as funding for an indulgence

Why not consider an Eco-Mosque for the end of your garden?

HTH

Churchill

[Troll]

I've still got two endowment policies designed to pay off my first mortgage that I took out 22 years and several houses ago. I was young and naive at the time and in those pre-Internet days the world was a different place when it came to finding out about stuff.

Both policies are on course to pay out approximately 2/3 of the originally estimated value. I have no option but to continue paying them to term as any other option (cash, sell, fully pay up etc) will cost me a bundle. Needless to say for the past 17 years all my mortgages have been repayment.

I have one maturing this year, like you I changed to repayment for the second property but kept the endowment going as a savings & life insurance method.

Agreed that compared with what was promised at the time the return is pretty scandalous but it all comes down to the terminal bonus amount as to how much of a disaster it has been

With no mortgage anymore I'm just looking at as funding for an indulgence

[Bacchus]

Bacchus,


all the best with it


Milan.

Cheers

[MarillionFan]

I've got an interest only mortgage.

But then again I've got the savings to pay said mortgage off and have them invested elsewhere at a higher rate of interest than I pay the bank. So effectively they can feck off, I aint paying it off.

[milanbenes]

Bacchus,


all the best with it


Milan.

[Bacchus]

why do people gamble with anything other than a repayment mortgage ?

Milan.

You're a contractor man! MTFU and get creative

I have various mortgages, all interest only, supported by a variety of investments including endowments (I am very well endowed...) and pensions.

Some are performing better than others, but on the whole it's all looking pretty good

Repayment mortgages are for middle middle middle class permies

[edit]actually I've just read the DM article, it seems to me aimed at people who have taken out interest only mortgages with no way of repaying them, they deserve to have their houses and savings confiscated and their first-borns sent up chimneys[/edit]

[Support Monkey]

Endowments were sold as the thing to have back in the 80 before it all went pop, it was seen as a good idea, the same as PPI, every man and his dog had them.

What the majortiy should have done when the mis-selling was first outed was to complain about it and get there mortgage changed and the endowment cancelled (this basically put you back to where you would have been without the endowment) but a large percentage of these people were lazy and never bothered so now their moaning they will not have enough to pay off their morgage

All they needed to do was write a letter to their provider, the same as PPI, All these companies that says they can claim back your PPI for a cost are making a fortune just because people are to lazy to do it for themselves.

[AtW]

No one in their right might will buy them - but there are some very very stupid investors out there.

Those 100+ years bonds were created for BoE.

[NotAllThere]

Interest only mortgates are standard procedure in Switzerland. My advisor has finally managed to understand that I want to repay significant chunks of my mortage.