[MK Chris]

Oh yeah, maltesers are underrated, well done. That's a marked improvement on your opinion of Kit Kats.

[S4B]

What is all the kissing ass going on in here?

I didn't think it was a good point Topher which is why I didn't say it was!

[Yudster]

I'm not sure how not having a mortgage cuts out the estate agent. It cuts out the bank, yes, but not the estate agent.

[Boboff]

This is a difficult one.

As a general rule financially you are always better off to pay off you mortgage. After all if you want to spend the money at any time you can always sell your house.

If you have 100k then you invest in a building society, you will get about 5% if you are lucky, you then have to pay tax on this at 20%, so you end up with 4% net, or £4000 a year.

If you have a Mortgage of £100k you will more that likely be paying around 7%, so crudely £7000 a year on it.

The difference of £3000 effectively is the extra you earn by paying off you mortgage £60 a week.

No if you are a higher rate tax payer then the sums improve tremendously, your net interest would only be £3000 in this case, the difference then £4000 a year or £75 a week.

The keep the mortgage argument does have merit in only one situation, and that is if you at some point will want the money to invest in something else, set up fees to re-arrange a mortgage after you have paid it off are terribly high ( expect to pay at least 1% of the amount borrowed, plus fees) A mortgage isn't something it is sensible to dip in and out off.

Back in the day when you had MIRAS you effectively got tax relief on your interest payments, which is what fueled the housing boom of the late eighties, basically everybody then had a huge incentive to borrow as much as they could, as you were not worse of holding a mortgage.

[S4B]

Is there anything financial you can't explain?

[foot-loose]

What is all the kissing ass going on in here?

All?

I was ripping the piss outta Topher throwing a hissy fit. True story!



readtheposttastic

[Boboff]

Is there anything financial you can't explain?

Yes, E-bay.

Lidl sell a Leaf cruncher for £80, people buy them and sell them on E-bay for £130, plus £20 postage, so you end up paying £150 for something you could have bought for £80. I can't explain that !

Ass kisser!

[claradooblue]

Sedentary society. We're all on a fast track to obesity.

[Boboff]

Ironic the same goes for jogging machines then

[Yudster]

Sedentary society. We're all on a fast track to obesity.

Speak for yourself!

[Boboff]

Fatty !

[SAV1OUR]

What is all the kissing ass going on in here?

All?

I was ripping the piss outta Topher throwing a hissy fit. True story!



readtheposttastic

Read.

Bless him.

[Sistermoon]

Thanks Boboff, for that explanation! I always felt that somehow my Dad couldn't be right. And, I would just pay off the mortgage so I didn't have to remember to pay it every month! Plus, property usually gains in value, so it would be nice to own the house outright if I ever wanted to sell

This morning I decided that if we won the lottery, I would tell Hubby we should split it 50/50 as I know I would want to spend and invest differently to him. And, I think I would want to visit places in the states I have never had a chance to see, that he has no interest in seeing. Although, when I mentioned this to him, he did say he wouldn't mind visiting Boston as a tourist, he just doesn't want to drive there!

[scamp88]

I would be upset One Million Pounds isnt alot these days. I would want moreee