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TV Newsman still has mortgage after 45 years

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https://www.dailymail.co.uk/money/meandmymoney/article-7668239/If-chancellor-increase-income-tax-personal-allowance-says-Alastair-Stewart.html

 

I enjoy these articles in the Mail at the weekend, another boomer going on about paying 15% interest and being in penury. Seems something not quite right hat has still got a mortgage after 45 years. I  can see that if you were relying on an endowment he could have been a bit short but these people should have gone onto a part repayment when it came out that the endowment wouldn't make enough.   Also I thought these people are subcontracting to the TV companies so would have an accountant whod sort everything out. 

 

Think on, 67 still working with debt on a 6 bedroom house. This is going to be more regular in the coming years.

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Difficult without knowing people’s circumstances eg divorce, ill health etc. But seems little excuse to still be in debt. 

No political point (rather a point on selective reporting) here but I liken it to an article that Jeremy Corbyn is worth £3m and Boris Johnson only £1.6m ie highlighting JC is ‘richer’. Article then mentioned BJ £275k journalist salary...which seems to highlight to me just how much he has spent, not what he is ‘worth’  

Same with this article. I don’t see Alastair as someone in debt rather someone who spends his earnings. I have no problem with that but don’t tell me what you owe without telling me what you have earned, what you have spent and what you spent it on. Otherwise it’s not really a story it’s just a little piece of the information with no context  

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1 hour ago, the_duke_of_hazzard said:

It says in the article that he has the capital to pay it off. He's just chosen not to yet, or it makes more sense for him to pay off when needed due to repayment penalties. So he has effectively paid it off already.

I spotted that and forgot to mention it....again I guess the media love a story headline. I wonder if headline should say he has a mortgage but the cash to repay it...nah, not juicy enough. Misses the ‘non point’ I guess they think they are making. 
 

Increasingly I have avoided taking anything I read seriously. Politics in particular. Everyone is just selling something...no integrity in reporting just trying to get sales, hits and increase advertising. 

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I t depends how much debt is owed.

45 years ago .... What was average house price? 10K? 15k??

IO alone you are talking ~10s of pound a month.

Its all confused:

Yes, in 1989, when the Chancellor of the Exchequer Nigel Lawson was playing silly buggers with the pound, resulting in huge record interest rates of 15 per cent. 

My wife and I had two kids by then and had just taken out our first big six-figure mortgage. It was the biggest financial nightmare any homeowner could face. We found ourselves in penury, cutting back to the bare essentials. 

We ended up paying nothing but the mortgage and the supermarket bill for about 18 months. It was the toughest time I can remember.

So, thats ~30 years ago.

Ten years ago, after 35 years, I cashed in both my endowment policies, but there wasn’t enough to pay off the capital I owed. As a result, I’ve still got an interest-only mortgage and I’m still servicing it.

His numbers are al over place.

Yes, our home, which is a six-bedroom 17th Century farmhouse in Hampshire with 25 acres of paddock and field. We bought it in 1997 – I’d rather not say how much it cost but it’s now worth four times what we paid for it.

https://houseprices.io/?q=wood+lane%2c+alresford&p=2

Only 4 places old in 1997. All have been resold.

 

 

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Any article featuring him should use the term "disgraced" Alastair Stewart.

He wasn't sacked from "Police Camera Action" until his second conviction for drunk-driving.

Think about that. He was sanctimoniously lecturing viewers on road safety (and if you watch the old videos now, he was VERY sanctimonious), and at the same time doing far worse himself than a little bit of speeding. And the programme makers kept him on even though they knew he was convicted! And he still has a job on TV now!

 

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On 11/11/2019 at 14:47, spyguy said:

 

We ended up paying nothing but the mortgage and the supermarket bill for about 18 months. It was the toughest time I can remember.

 

 

 

Substitute mortgage for rent and that's how most of the population live. At least he gets to own his house at the end. How out of touch can you be? twit. 

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