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Retired — and still paying off the mortgage

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    #21
    Originally posted by ChimpMaster View Post
    Your example is perhaps of one where you managed to buy the property at a much lower price many years ago. Anyone that bought before 2003 or so will be sitting pretty now.

    For example, in 1997 the house I live in could have been bought for almost a quarter of what it is worth now. In 2004 it was half the price. So the mortgage would have been piddly compared to what someone now would have to get, and could have been paid off much more easily.
    We bought this house 2 years ago, but you're right in the respect that both my wife and I got on the property ladder in the mid 90's and have surfed the rise and rise of the property market. We have owned 6 properties between us in that time and every one has gone up in value. If we were back in the 90's but with property where it is today I don't know how we would have got on the ladder (my first flat was £55k .... can't get a car park space for that these days!).

    Property really started to boom under Blair/Brown, following the changes Brown made to pensions. This resulted in many people losing trust in pensions and looking for alternative investments. Property was ideal and this started the boom in BTLs and hence the boom in property prices. With so many people reliant on property, and feeling affluent due to property values, no UK government can afford property prices to drop. Stagnate, maybe, but not drop.
    I am what I drink, and I'm a bitter man

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      #22
      Or maybe buy a house you can afford to pay off in 25 years?

      The big problem here is trying to buy something you cannot afford - it is that simple.

      Obviously if you plan to increase your earnings and also increase your mortgage payments so that you can pay it off quicker then go for it but.......

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        #23
        Originally posted by MrMarkyMark View Post
        They, the gentler sex, can pick up the financial aspects on rapidly, given the right motivation, as a number on here will surely testify
        The right motivation being blatent sexist comments, completely untrue?

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          #24
          Originally posted by original PM View Post
          The big problem here is trying to buy something you cannot afford - it is that simple.
          True. However prices can only go up: -

          Originally posted by Whorty View Post
          With so many people reliant on property, and feeling affluent due to property values, no UK government can afford property prices to drop. Stagnate, maybe, but not drop.
          Indeed.

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            #25
            Originally posted by BrilloPad View Post
            The right motivation being blatent sexist comments, completely untrue?


            I meant pick up the financial aspects of doing well in a divorce.

            A little bit of a joke, still never mind
            The Chunt of Chunts.

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              #26
              Originally posted by MrMarkyMark View Post


              I meant pick up the financial aspects of doing well in a divorce.

              A little bit of a joke, still never mind
              I did pick up on that. However I am still smarting from the comment about girls. What a

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                #27
                Originally posted by BrilloPad View Post
                I did pick up on that. However I am still smarting from the comment about girls. What a
                Poor fishing (trolling) IMO.

                Lucky SE hasn't been online yet, hopefully she wouldn't fall for such a poorly presented bait, wrong size hook too

                It seems he has only had a lesser spotted BrillioPad fish thus far
                The Chunt of Chunts.

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                  #28
                  Originally posted by MrMarkyMark View Post
                  Poor fishing (trolling) IMO.

                  Lucky SE hasn't been online yet, hopefully she wouldn't fall for such a poorly presented bait, wrong size hook too

                  It seems he has only had a lesser spotted BrillioPad fish thus far

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                    #29
                    Originally posted by BrilloPad View Post
                    Mrs. MarkyMark would initially laugh at such a comment, thus allowing the speaker a false sense of security, shortly before threatening to punch him the face.

                    The Chunt of Chunts.

                    Comment


                      #30
                      Originally posted by MrMarkyMark View Post
                      Mrs. MarkyMark would initially laugh at such a comment, thus allowing the speaker a false sense of security, shortly before threatening to punch him the face.

                      She never seemed the sort to threaten first.

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