What is that "mate" of mine Sadiq Khan trying to achieve ?

 

You lost you demented little cretin, get over it and concentrate on your job you terrorist sympathiser.

The only way your kids are getting it is if they bump you off. You will be kept going in some hospital bed and the provider won't turn you off until the money runs out. 

3 hours ago, Casino said:

todays hot topics

 

channel 4

 

im sure theyre taking the piss

Nadine Dorries is involved so it will be a guaranteed shitfest

3 hours ago, Sweep said:

One of my mates still owes over £600 on his caravan, he's quite open in the fact that he's never going to be able to pay it off until him and his mum sells enough pegs...

EFA.

I'm old enough to remember gypsies selling lucky heather door to door with the implied threat of a sheeny curse if you didn't buy some.

Has partgate and tory corruption ran its course now?

2 minutes ago, deane koontz said:

Has partgate and tory corruption ran its course now?

we all need to move on

3 minutes ago, Sweep said:

we all need to move on

I hear you brother

3 hours ago, Rudy said:

Do yours know this ?😁

Yes, of course. I won't have a property to leave them.

One's 33, married with a kid, they've their own house and 2 businesses in Australia.
One's 29, semi-at home whilst saving for a house depoist, on a decent enough wage as a litigator
The other is 17, looking at getting a decent degree and as long as me & our Maud don't both die in the next 10yrs, she won't need anything leaving for her either.

Mind you, the life insurances will ensure there's a bit left.

4 hours ago, Sweep said:

One of my mates still owes over £600K on his mortgage, he's quite open in the fact that he's never going to be able to pay it off until his Mum pegs it.....

Current mortgage rate will around 1-2 % why would anyone want to pay it off ? Assuming your mate at least gets a decent deal when it is ready 

Just now, Ani said:

Current mortgage rate will around 1-2 % why would anyone want to pay it off ? Assuming your mate at least gets a decent deal when it is ready 

When I retired I paid off the remaining debt on my mortgage; about £28k. Viewpoints were split, some said pay it off whilst you have the capital, others said keep your money in the bank whilst interest rates on the mortgage are so low. Basically, enjoy the freedom having a fairly large balance gives you. Thing is, the positive interest on the bank balance wasn’t equating to the negative interest on the mortgage.

My income dropped on retirement by about the same as I was paying for the mortgage so, now I had no travel costs I was actually better off mortgage free.

Next plan is to put the deeds in my kids’ names and perhaps pay them a peppercorn rent so the care system can’t sell the house to pay for my care, should I need it. 

1 minute ago, MickyD said:

When I retired I paid off the remaining debt on my mortgage; about £28k. Viewpoints were split, some said pay it off whilst you have the capital, others said keep your money in the bank whilst interest rates on the mortgage are so low. Basically, enjoy the freedom having a fairly large balance gives you. Thing is, the positive interest on the bank balance wasn’t equating to the negative interest on the mortgage.

My income dropped on retirement by about the same as I was paying for the mortgage so, now I had no travel costs I was actually better off mortgage free.

Next plan is to put the deeds in my kids’ names and perhaps pay them a peppercorn rent so the care system can’t sell the house to pay for my care, should I need it. 

Get some proper advice on it, there is a way of doing that involves setting it up in Trust that apparently is best way to avoid paying out tax on it. 
 

On the mortgage side, it obviously depends on the deals that are out there , the very best mortgage deals do not allow for interest only so you have to pay the capital too. We owe about 150k which costs £1000 per month including capital only about £100 is interest. We looked into going interest only but would need to change deal and payment would have only gone by about £400 due to higher rates 

10 minutes ago, MickyD said:

Next plan is to put the deeds in my kids’ names and perhaps pay them a peppercorn rent so the care system can’t sell the house to pay for my care, should I need it. 

I am sure you have done but be aware that you need to pay market rates for the rent, they will have capital gains to think about and the Local Authority can still come after it if they think you have "deprived yourself an asset". Also if one of them gets divorced it can get very messy. 

As Ani said trusts may be the answer.

Edited April 5, 20224 yr by Nowack
Ani said it before me and better.

11 minutes ago, MickyD said:

When I retired I paid off the remaining debt on my mortgage; about £28k. Viewpoints were split, some said pay it off whilst you have the capital, others said keep your money in the bank whilst interest rates on the mortgage are so low. Basically, enjoy the freedom having a fairly large balance gives you. Thing is, the positive interest on the bank balance wasn’t equating to the negative interest on the mortgage.

My income dropped on retirement by about the same as I was paying for the mortgage so, now I had no travel costs I was actually better off mortgage free.

Next plan is to put the deeds in my kids’ names and perhaps pay them a peppercorn rent so the care system can’t sell the house to pay for my care, should I need it. 

Personally I’d wait before you put the house in the kids name, if you ever need care you’ll want to be able to afford the best care you can get, there is a massive gulf in the worst care to the best care. 

51 minutes ago, deane koontz said:

Has partgate and tory corruption ran its course now?

We have a corrupt government with a liar as PM. It’s not even up for debate anymore. It’s up to you what you do with that information.

My mortgage started off as interest only. Around 6 or 7 years before I bought my first house, a mate of my dad advised me to start en endowment policy which (his diagrammatic projections showed) would grow at between 10-15% and pay off my mortgage in 25 years less however long between starting the endowment and buying the house.

Ridiculously low interest rates meant it was never going to happen. Having to cancel the interest only mortgage and change it to interest plus capital set me back a few thousand pounds.

I tried the mis-selling route all the way to the ombudsman but was told the advice was good but even the seller couldn’t foresee the drop in interest rates.

3 minutes ago, Mounts Kipper said:

Personally I’d wait before you put the house in the kids name, if you ever need care you’ll want to be able to afford the best care you can get, there is a massive gulf in the worst care to the best care. 

If I need that much care, wheel me to the top of a big cliff and I’ll just check to see if I can fly.

2 minutes ago, MickyD said:

If I need that much care, wheel me to the top of a big cliff and I’ll just check to see if I can fly.

That won’t happen so I’d just thought I’d suggest you keep the house in case you need quality care.  Ultimately it’s your call. 👍

1 hour ago, Ani said:

Current mortgage rate will around 1-2 % why would anyone want to pay it off ? Assuming your mate at least gets a decent deal when it is ready 

Indeed, he's massively paying into his pension at the minute, and paying the minimum he can on his mortgage - it's the sensible thing to do in reality

8 hours ago, Rudy said:

What do you leave for your kids? The main selling point for me to get a mortgage was that security when I’m older plus being able to leave it or help my kids to get on the ladder when they want to . 

Say you peg it at 80 I’m guessing your kids will be in their 50s. If they’re still at home at that age you need to have words with them 😂

 

 

If you’re in a position to take some money out of your house do so and use it as a deposit on a couple of Buy to let’s on interest only. Use 1 to pay back the money you’ve borrowed on your gaff and rent the other to your child. All the money they pay you for rent goes into a saving pot which you can give them back in 5/10 years time. 
 

Martin Lewis ain’t got shit on me 

20 minutes ago, royal white said:

Say you peg it at 80 I’m guessing your kids will be in their 50s. If they’re still at home at that age you need to have words with them 😂

 

 

I didn’t mean literally I meant when I pop it the money from the gaff will go to the sprogs or their sprogs 

1 hour ago, Rudy said:

I didn’t mean literally I meant when I pop it the money from the gaff will go to the sprogs or their sprogs 

What about your vintage collection of Fistmasters? 

13 hours ago, Sweep said:

One of my mates still owes over £600K on his mortgage, he's quite open in the fact that he's never going to be able to pay it off until his Mum pegs it.....

Only 4 times average Wws income, a modest level of borrowing all things considered. 

How’s Partygate going?

Anyone listen to The Rest is Politics with Rory Stewart and Alistair Cambell, its really interesting espcially Stewart's thought's on the UK's current foreign policy (or lack thereof) and who are in the current government who are talented but are not getting the jobs in cabinet where they could make a real strategic difference.