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longtomsilver

1 In 10 Pensioners Still Have Mortgage Commitments.

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How long before someone here connects that to the value of having gold crowns done?

I didn't like to say, to avoid being accused of being a goldbug.

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Average owing of £75,000 - to me, if they have the money to pay it off and don't then consider that financially prudent.

If it's easliy covered by the value of the property WTP. They can't take it with them!

tim

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Isnt something insane like 40% of the SMS payments going to OAPs?

Destroys the argument that its to help people in the short term only.

Thing is, i bet they mostly have tonnes of equity in it, even if they still have a mortgage, and yet the taxpayer is still paying it for them.

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So 90% of pensioners have no mortgage commitments.

I find it hard to believe that 90% of pensioners have cleaered their mortgage debts given the MEW mania of this country.

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All going according to plan I will have many outstanding mortgages in my elderly years and hopefully will never ever pay them off.

Who will then? The bank's other customers?

I had thought you were honest, if a bit naive.

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All going according to plan I will have many outstanding mortgages in my elderly years and hopefully will never ever pay them off.

I plan on doing the same but with the caveat that I will have the money to be able to pay them off should I so choose (which I probably won't).

For the avid savers amongst us there is little point in paying off anything from the mortgage as long as your tracker rate is virtually zero may as well continue keeping your money elsewhere and growing it (or shrinking it and then hopefully growing it over the long term).

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I plan on doing the same but with the caveat that I will have the money to be able to pay them off should I so choose (which I probably won't).

For the avid savers amongst us there is little point in paying off anything from the mortgage as long as your tracker rate is virtually zero may as well continue keeping your money elsewhere and growing it (or shrinking it and then hopefully growing it over the long term).

More dishonesty :(.

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Average owing of £75,000 - to me, if they have the money to pay it off and don't then consider that financially prudent.

Say you have a £75,000 mortgage and £75,000 in cash. and you are coming up to retirement.

You can either pay off the mortgage and be left with nothing, or you can by a Bentley for £75,000 and the taxpayer will pay your mortgage plus some extra for your day-to-day expenses.

Bentley + free money versus nothing.

What does the prudent retirer choose?

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There are two choices for my beneficiaries, when I cark it.

They can refinance the debt and keep growing the massive equity wedge and strong cash flow.

Or they can sell up, clear the debt and walk away with the equity.

If there is one positive thing that I can do with my life on earth I would like to think that I have instilled on my children that they should rack up as much debt as early and as safely as they can and never ever pay it off. What better a way to teach them this than by example?

At best naive.

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  • 311 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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