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Guest Charlie The Tramp

Credit Action

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Guest Charlie The Tramp

Credit Action Debt Stats

Research from Scottish Widows Bank reveals one in six (over 1 million), pensioner homeowners in the UK have an outstanding mortgage on their home – each with an average debt of £45,313 – making a nationwide debt of almost £47 billion. What is more, one in three owe more than £50,000 and one in ten more than £100,000 putting increased pressure on retirement income.

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Saw an advert today at the Gym promoting the idea that pensioners release the equity in their homes and live on the proceeds.

I can remember this being exploited just before the last recession, little did they realise that with rates of 18% compounded it took only three or four years to find that you had no equity left in your property and you were out on your ars£.

I think they are now scratching away for new business and it must really be the death bells of the British Economy.

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Saw an advert today at the Gym promoting the idea that pensioners release the equity in their homes and live on the proceeds.

I can remember this being exploited just before the last recession, little did they realise that with rates of 18% compounded it took only three or four years to find that you had no equity left in your property and you were out on your ars£.

I think they are now scratching away for new business and it must really be the death bells of the British Economy.

What about our iron chancelor he well known for his tight grip on the economy ? :lol:

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So much for living rent-free when you retire. I think I'd rather be renting as a pensioner than have a massive mortgage and be at the mercy of the banks.

At least as an old age ren(t)sioner you can hit the landlord with your walking stick and train the cat to pee on his BMW if you get any aggro.

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  • 301 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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