Bermuda John

Ridiculous queues in Bermuda.............. 3 people and it takes half an hour to serve them!!! As the advert says.......... "its total gridlock, man" Never going shopping again.

Are you talking to me? This is not a wind up, it is the law in Bermuda!! Non Bermudians are allowed nothing unless it is offered to bermudians first, thats why its hard to get a job, house and even a car. Ex pats are not allowed cars unless they own a house and on top of that there is a one car per household rule.

In Bermuda, non Bermudians are not allowed to own property unless they pay a 20% tax on the price of the property and the property must be bought of a non Bermudian, Oprah Winfrey was declined a property for this very reason. Could do it in England to stop the increase in foreign investment but im sure someone would say it is against human rights or some other bullsh!t.

Thats a bit harsh, i disagree, asking prices are the same but selling prices are reducing. In response to your harsh comment re read your post and you will find out who is the rectum. A 22 word sentence with 5 errors in, including Middlesbrough spelt incorrectly..................embarrassing!

I have been considering an offset mortgage for a while now and done a bit of research into it, however my siutation is a bit different. I am currently living abroad and returning to the Uk in early 2007, i rent my house out ( positive cashflow a tenner a month!!!) and i will return with a substantial amount of savings in relation to my mortgage. For me the savings will be around 60 -70% so its a no brainer. From what i see the advantages are as follows: 1. Flexibility You agree an overdraft equal to the valuation of your house with the option to draw on this overdraft at any point in time but interest does accrue on this extra amount. This assumes that you have equity in your home. You can also reduce or increase payments very easily. 2. Save interest The interest is calculated on a daily basis against the balance of your account, not just the lump sum. eg 100,000 loan 20,000 saving paid 2000 first day of the month balance = 78,000 Pay interest on 78,000 for that day not 80,000. So if you pay your wages in to the account this too will be offset as the interest is calculated daily. (as aussie bloke said) saving you more interest. However you do sacrifice the interest that could be earned in the bank. 3. Laziness If you are lazy like me and cant be bothered to change mortgages every 2 years to save interest then it may suit. If you dont transfer over spare cash each month out of your current account and let it grow you will only be getting interest at less than 1%. In this situation you do nothing and the money works for you by saving cash. In summary i'd say its for lazy people like me, with a fair amount of savings who want the flexibility of being able to underpay and overpay thier mortgage.

You may find it hard to believe but i will be returning in 2007, the grass isnt always greener on the other side. To be honest, i dont even realise where i am, the nice beaches and pretty sunsets are now the norm for me and it will only sink in when i go back to Boro. And yes the picture is the view from out of my window, i may regret coming back to england!! I'll be financially secure and at 27 if i dont fancy it i have plenty of time to move on again. Anyway, my house has gone up over 200% since 2002, i would say a realistic price is about a 25% reduction on what it is now. The prices are out of control and not in line with the low wages which the majority of people are on in the area.

I am originally from Boro, still own a property and rent it out, and that has brought a smile to my face! Isn't the area concerned, St. Hilda's??? I know they are on about developing Middlehaven near the footy ground but being like Dubai and rocketing prices, i think this could be one of the funniest things i've heard for a while. Prices are ridiculous in Middlesbrough as it is. Once taxi drivers and hairdressers start talking about something, its time to get out!