Hurrah - Mortgage Paid off in Eight Years!

[kabbes]

So when was the last time you did it Pip? Eh? Answer me that, Ms. Clever Clogs.

 

[mwgdrwg]

36 and still renting!

 

[Pip]

So when was the last time you did it Pip? Eh? Answer me that, Ms. Clever Clogs.

I do it all the time. Ask anyone.

 

[DotCommunist]

Sorry. Under the 11th September cake reforms, all cake will belong to me.

*storms kabbes Palace*

 

[kabbes]

Well I never.

 

[kabbes]

*storms kabbes Palace*

If you don't do it by 00:01 on the 11th, you'll be too late. Mmmmm cake.

 

[sojourner]

Two things I really really miss about having a council house - knowing that unless I was a completely anti-social twat, I would always have a roof over my head, and the garden.

I don't miss the freezing cold, or the draughts, or the black mould - but since I moved out they all got fucking well done up didn't they? Bloody central heating and double glazing

 

[Pip]

Two things I really really miss about having a council house - knowing that unless I was a completely anti-social twat, I would always have a roof over my head, and the garden.

I don't miss the freezing cold, or the draughts, or the black mould - but since I moved out they all got fucking well done up didn't they? Bloody central heating and double glazing

Did you get your £4k when you moved out?

 

[sojourner]

Word.

"so if you invest 4% in tesp account and wait 6 months for it to mature, then withdraw it, but not before the annuity doubles to avoid a penalty fee then place it on a no interest card then swap it to your hepo account you'll save 2% which roughly will work out at £56 for every £200,000 which I'm sure you will agree will be well worth it blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah"

That's what exactly moneybox sounds like to me.

Yep

I have actually tried to listen to it. Tried to be mature, and adult, thinking I probably could do with a little more knowledge about money

But it sends me INSANE within minutes

 

[sojourner]

Did you get your £4k when you moved out?

What 4k?

 

[Pip]

What 4k?

Oh soj

 

[marty21]

we got £16k when we left the Housing Association place

 

[kabbes]

What 4k?

So NOW you're all interested in money.

 

[sojourner]

Oh soj

fuck off

you're telling me now, 6 years after I moved out, that St Helens council had any money?

Nah - you're winding me up gurl

 

[sojourner]

So NOW you're all interested in money.

Not like you are mate

Never like you are

A simple question in response to Pip's, is all

you money-grubbing filthbag

 

[kabbes]

 

[Pip]

fuck off

you're telling me now, 6 years after I moved out, that St Helens council had any money?

Nah - you're winding me up gurl

It might just be here where I imagine there's a much higher demand for social housing, but they offer financial incentives if you give up your tenure (rather than get kicked out obv) or move somewhere smaller, eg. someone with grown up, moved out children moving from a family home into a flat.

 

[sojourner]

It might just be here where I imagine there's a much higher demand, but they offer financial incentives if you give up your tenure (rather than get kicked out obv) or move somewhere smaller, eg. someone with grown up, moved out children moving from a family home into a flat.

Nah - they've never done anything like that round our way. Trust me, people would be moving out in droves if that were true - they'd all be camping in their mum's gardens

 

[Pip]

Nah - they've never done anything like that round our way. Trust me, people would be moving out in droves if that were true - they'd all be camping in their mum's gardens

Ha

 

[FridgeMagnet]

Yep

I have actually tried to listen to it. Tried to be mature, and adult, thinking I probably could do with a little more knowledge about money

But it sends me INSANE within minutes

I listen to Moneybox lots of the time now, and never used to. I now have lots less money than I did. Coincidence? I think not.

(It did once tell me something useful about registering for tax returns online. Once.)

 

[Gromit]

I'll be 52 when my house is paid off.

I could afford to up my payments and do it faster but I'd rather use the money to live my life now, not in some distant mortgage free future in my 50's.

I'm lucky though. I was previously committed all the way to age 65 thanks to the split with my ex.

 

[Kanda]

How d'you manage that in London? Are you a banker getting silly bonuses or something?

I work in IT in that industry, similar benefits.

 

[Cloo]

We're on a 25 year mortgage, and we're not going to be here for more than another three years I'd have thought (been there two already). We're on a fixed rate and are actually paying off at quite a clip at the mo - I had been worrying about how much we'd have left given the market drop, but I realised I hadn't been figuring in the fact that we're paying the mortgage off every month, duh! So if we're lucky, we might get something like our deposit back, as we had a reasonable sized one.

I'm still not sure about how much the lenders would 'call in' if we sold in, say 2 years' time - obviously there'd be interest, but I generally not at all sure what happens when you sell a place with mortgage still outstanding.

 

[AnnO'Neemus]

...It's about freedom. I work so that one day I won't have to work. Not having any housing costs is the biggest factor in that. If I can own my own house and obtain enough savings elsewhere to pay me a moderate amount then I will be able to never work again, which would be the best.

What would you do with your days if you never needed to work again?

 

[christonabike]

I generally not at all sure what happens when you sell a place with mortgage still outstanding

I think you have to pay all the money back

 

[DotCommunist]

What would you do with your days if you never needed to work again?

I refer you to the naked house-rubbing ambition of kabbes.

soar not to high icarus etc etc

 

[AnnO'Neemus]

We're on a 25 year mortgage, and we're not going to be here for more than another three years I'd have thought (been there two already). We're on a fixed rate and are actually paying off at quite a clip at the mo - I had been worrying about how much we'd have left given the market drop, but I realised I hadn't been figuring in the fact that we're paying the mortgage off every month, duh! So if we're lucky, we might get something like our deposit back, as we had a reasonable sized one.

I'm still not sure about how much the lenders would 'call in' if we sold in, say 2 years' time - obviously there'd be interest, but I generally not at all sure what happens when you sell a place with mortgage still outstanding.

The purchasers will get a mortgage (or be cash buyers) and pay it off, hopefully leaving you with a profit of the amount between your original purchase price and the price you sold at.

If not, if there's negative equity, then you remain liable for that.

 

[Cloo]

I think you have to pay all the money back

But I don't know how they work out how much exactly you do pay back, as I guess there's interest involved. I could do with finding this out, as if it's tonnes of interest we might be left with feck all, if it's less, we might have a decent sum.

Luckily, I don't think we're looking at negative equity at least.

 

[christonabike]

There will be all sorts of bulding society trickery, opt out of your mortgage clauses, etc

I am speaking from a position of ignorance, by the way

 

[kabbes]

What would you do with your days if you never needed to work again?

I wouldn't be at this desk posting on bloody Urban, I'll tell you that for nowt.