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TheCountOfNowhere

What I Didn't Get For Christmas This Year....

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I did have my retired father slagging of Carney as he thinks increasing interest rates would be evil.

Till I explained the reason he as a pensioner is getting ****** all interest on his money, his living costs are going through the roof, the pound is worth ****** all and we import lots of our essentials.

It is amazing how some people swallow the mainstream media memes.

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You lucky git.

I had the full on........why don't you buy now......prices are going up.......by the time I was your age.......blah, blah blah. Didn't help that my sister was saying how cheap the mortgage is on her £1m home (she is 10 years old that me and "got on the ladder" at the right time.

I cant be bothered with it any more so I just drank wine until I fell asleep.

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You lucky git.

I had the full on........why don't you buy now......prices are going up.......by the time I was your age.......blah, blah blah. Didn't help that my sister was saying how cheap the mortgage is on her £1m home (she is 10 years old that me and "got on the ladder" at the right time.

I cant be bothered with it any more so I just drank wine until I fell asleep.

Commiserations old fella

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last Xmas i was pushed to the brink as i was constantly asked about my personal financial situation, and why i refuse to buy a house. my first response is "its not your business to enquire", but i normally keep quiet, until the conversation naturally changes to something else. but they went 1 step too far. i explained why one friends I/O mortgage was dead money and renting isn't. as with renting i get all my property maintenance done and paid for by other people. and that at the end of their 3 year fix, they will be no closer to "owning" their house as i will by renting, but i won't have a £200k+ mill stone round my neck. i then also explained how much their house needs to go up in 25 years, to cover the interest payments. they were shocked to find out that they could end up paying and additional 80%+ on top of the purchase price. one guy thought the interest was per annum, i laughed so hard.

that group of friends no longer talk money in front of me. it was a shock to them all it seems.

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last Xmas i was pushed to the brink as i was constantly asked about my personal financial situation, and why i refuse to buy a house. my first response is "its not your business to enquire", but i normally keep quiet, until the conversation naturally changes to something else. but they went 1 step too far. i explained why one friends I/O mortgage was dead money and renting isn't. as with renting i get all my property maintenance done and paid for by other people. and that at the end of their 3 year fix, they will be no closer to "owning" their house as i will by renting, but i won't have a £200k+ mill stone round my neck. i then also explained how much their house needs to go up in 25 years, to cover the interest payments. they were shocked to find out that they could end up paying and additional 80%+ on top of the purchase price. one guy thought the interest was per annum, i laughed so hard.

that group of friends no longer talk money in front of me. it was a shock to them all it seems.

Errr, the quoted interest rate for mortgages is per annum! But the total payable amount is cumulative over 25 years! Did you mean that they thought the interest rate was the amount for the total duration of the mortgage? How the hell did they think the banks make money? Did they even know the difference between a IO mortgage or a repayment one!? No wonder Wonga is the only form of loans they understand!

People don't talk to me about buying a house any more, they all know my views. What I do seems to be getting is a lot of being called tight as some people are aware that I have quite a few quid saved but I still try to save when I can. They seem to think that as I have money in the bank I should be doing all the frivolous things they spend money on. I don't earn great money and have saved though being frugal. If I hadn't saved and had just took out a huge mortgage which I was struggling to pay, I'm sure everyone would be sympathetic in trying to help save my disposable income!

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Errr, the quoted interest rate for mortgages is per annum! But the total payable amount is cumulative over 25 years! Did you mean that they thought the interest rate was the amount for the total duration of the mortgage? How the hell did they think the banks make money? Did they even know the difference between a IO mortgage or a repayment one!? No wonder Wonga is the only form of loans they understand!

People don't talk to me about buying a house any more, they all know my views. What I do seems to be getting is a lot of being called tight as some people are aware that I have quite a few quid saved but I still try to save when I can. They seem to think that as I have money in the bank I should be doing all the frivolous things they spend money on. I don't earn great money and have saved though being frugal. If I hadn't saved and had just took out a huge mortgage which I was struggling to pay, I'm sure everyone would be sympathetic in trying to help save my disposable income!

Don't worry, most people, even supposedly intelligent ones, can't grasp the concept that people with money have generally got that way by NOT spending it.

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Errr, the quoted interest rate for mortgages is per annum! But the total payable amount is cumulative over 25 years! Did you mean that they thought the interest rate was the amount for the total duration of the mortgage?

No i didnt explain my self, ammount paid per annum, ie 5% on £250k

250k ÷ 25 years = 10k per year + 5% interest = 10,500 per annum

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Did they even know the difference between a IO mortgage or a repayment one!?

Not fully, they understood it was cheaper per month but didnt relaise or care they would still have 100% of the purchase price after their fix, as prices go up and will inflate away their debt. Plus a parent will die soon giving them £X000,000 in inheritence

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Well I got being told that rent was wasted money and that I needed to buy again as prices are only going up.

Then had an argument about how the self employed have been screwed over regarding mortgage applications thanks to those non self-employed people and their liar loans.

Yay.

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What I do seems to be getting is a lot of being called tight as some people are aware that I have quite a few quid saved but I still try to save when I can. They seem to think that as I have money in the bank I should be doing all the frivolous things they spend money on. I don't earn great money and have saved though being frugal. If I hadn't saved and had just took out a huge mortgage which I was struggling to pay, I'm sure everyone would be sympathetic in trying to help save my disposable income!

+1

I keep getting the "why don't you buy a Porsche" etc etc

Why do you drive around in an old banger YOU'RE TIGHT AINT YA! Hahaha etc etc

I made the mistake of disclosing to a close friend how much I had stashed away thinking it was between me & them but it's scince got round all my friends, now I get it mentioned everytime I see them, had another mate ask me if I wanted to buy into his self employed business err...NO THANKS!

Add to this I'm currently facing redundancy early next year so the WHY DONT YOU BUY PROPERTY / YOU CAN RENT IT OUT ETC has reached fever pitch lol

I try to educate them but they're all about house price inflation like it's the golden goose.

after I put down that one the other night I got the WHY DONT YOU BUY INTO THE STOCK MARKET / DONT SIT ON THE MONEY etc

I just told them the stock markets way too toppy at present it'd be like buying into the house price ponzi at the top of the market.

Edited by workingpoor

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+1

I keep getting the "why don't you buy a Porsche" etc etc

Why do you drive around in an old banger YOU'RE TIGHT AINT YA! Hahaha etc etc

I made the mistake of disclosing to a close friend how much I had stashed away thinking it was between me & them but it's scince got round all my friends, now I get it mentioned everytime I see them, had another mate ask me if I wanted to buy into his self employed business err...NO THANKS!

Add to this I'm currently facing redundancy early next year so the WHY DONT YOU BUY PROPERTY / YOU CAN RENT IT OUT ETC has reached fever pitch lol

I try to educate them but they're all about house price inflation like it's the golden goose.

after I put down that one the other night I got the WHY DONT YOU BUY INTO THE STOCK MARKET / DONT SIT ON THE MONEY etc

I just told them the stock markets way too toppy at present it'd be like buying into the house price ponzi at the top of the market.

You're going about this all the wrong way. Never tell anyone what money or not that you've got....!

I am in a similar situation and now I just talk in a vague way about things being tight and the missus not working any more meaning we've got a lot less than before. This gets people to shut up, whereas before it was the same assumptions are people on this thread have encountered: 'why do you drive a shit car if you've got the cash, etc. '

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Lucky you.

I got the full both barrelled assault on my lifestyle from the mother in law.

To put things in perspective we own outright our own 3 bedroom house in a very expensive part of the country. Because we own outright and have done for the last 4 years we've also got substantial cash savings.

However apparently the house is damp, has inadequate bedroom space, not enough room for entertaining, the garden isn't big enough for growing children etc etc

What we should be doing is moving from where we live, and where we can walk to shops, schools, jobs and where we have lots of friends to a village with none of these things or a town almost 20 miles away that would mean a pleasant 20 minute walk/cycle to work would turn into an hour sat in traffic or on a bus.

She is a stereo-typical person in their 60's who gave up work at 27 and whose husband earned a reasonable income (but I earn more than he ever did) and still managed to live in a large detached house now worth a fortune. Just bought a BTL small 2 bedroom flat too. I did point out that it would be easier to move if all new houses weren't bought by landlords which shut her up for a while.

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I've had a bit of the usual sage advice / mild expressions of exasperation and disappointment from various family members and some infuriating discussions with friends.

I’m not an especially money oriented person, so I am completely happy to acknowledge there are non-financial reasons to saddle yourself with a huge and risky debt buy your own place – part of me is sick to the back teeth of landlords and magnolia walls – but the ‘bricks and mortar’ brigades’ inability to consider any possible downside to mortgaging yourself to the hilt is infuriating.

My new for 2014 catchphrase for these people is going to be:

‘I’ve thought a lot harder about not buying than you ever did about buying’.

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You're going about this all the wrong way. Never tell anyone what money or not that you've got....!

I am in a similar situation and now I just talk in a vague way about things being tight and the missus not working any more meaning we've got a lot less than before. This gets people to shut up, whereas before it was the same assumptions are people on this thread have encountered: 'why do you drive a shit car if you've got the cash, etc. '

I have come to the conclusion that there are a large number of people that like it when they know others are having a challenging or difficult time.....it makes them feel good......tell them you have gone without to save for something specific or to build a possible future security net they try and give reasons on how you could or should spend it now. People seem to think by only spending on stuff makes for happiness, only sad fools save..... :blink:

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I have come to the conclusion that there are a large number of people that like it when they know others are having a challenging or difficult time.....it makes them feel good......tell them you have gone without to save for something specific or to build a possible future security net they try and give reasons on how you could or should spend it now. People seem to think by only spending on stuff makes for happiness, only sad fools save..... :blink:

Partly true, But I also think that over-borrowed people do feel uncomfortable that others are not holed similarly below the waterline - they'd prefer everyone was in the same boat.

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Partly true, But I also think that over-borrowed people do feel uncomfortable that others are not holed similarly below the waterline - they'd prefer everyone was in the same boat.

This

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Partly true, But I also think that over-borrowed people do feel uncomfortable that others are not holed similarly below the waterline - they'd prefer everyone was in the same boat.

There are people like that.......what you see on the surface is not always showing the true, real, clear picture. ;)

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There are people like that.......what you see on the surface is not always showing the true, real, clear picture. ;)

They had it all and are now worried that they may lose it while others, who they felt they left behind, may now have something. Unsettling, probably.

Is this the 'fear' phase ?

Edited by LiveinHope

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