i have broken the chains and now i'm free!

[kwak zzr]

i have just paid the last payment on my mortgage:) now what to do?

(1) get another mortgage and move house?
(2) swap the bike?
(3) ive just changed the car but do i change it again?
(4) let the wife have the passat tdi and buy another cage?

[454697819]

you lucky git

29 years 6 months still to go on mine and iv copped 5 interest rises in the last 6 months dammit :smt021

answer...

change the bike..... and buy a holiday home..

hope that helps

[kwak zzr]

took me 17 years to pay mine, now glad its gone.

[melody]

Well done you. I'm sooooooooooo jealous.

If I was you, I'd get another cage and not tie myself down to another mortgage.




29 years 6 months still to go on mine and iv copped 5 interest rises in the last 6 months dammit :smt021



Same here:(

[Jelster]

Give up work...

Oh yeah, you're a postie, you're only doing part time now anyway ;)


Well done mate. Personally I'd be sticking as much as I could every month into a high interest account of some sort. Buying another place will only put you back where you started.

I wanna move to somewhere cheaper than West London, so I can get the same for less and write my mortgage off. Problem is, there's no work where I want to go :rolleyes:


But you can still go and get an ST :smt023

[kwak zzr]

still go and get an ST mmmmm nice thought, my gaff aint an expencive house but now its really mine it open's up doors to do other things like striking:)
as for london i dont know how anyone can afford to live there.

[Stu]

Received the first post of the week today!
Thought you were just having the odd day a week?

[philipMac]

Get another mortgage I think?
Isn't that the way to do it? I think you save money by having a mortgage because of the tax that you save is greater than the interest that you are accruing.

Or is that not correct? I am pretty sure that in Ireland at least, you should have a mortgage at all times for tax reasons.
Like, even if you take another mortgage, and invest that money in something, and use that money to pay off the mortgage, you are quids in.


Somehow.
I think.

[Biker Biggles]

No tax advantage in having a mortgage in Blighty now.That all ended yonks ago.I'd spend the money on a holiday or doing all those things you wanted to do but couldn't afford.

[timwilky]

That redemption payment is a nice feeling isn't it.

Trouble is, you will always find something else to spend the money on. don't bother going looking, whatever it is will find you

[kwak zzr]

now the interest rates are rising and the property prices are stabilizing it costs more now than ever to buy your own place. my niece just moved into a 2 bed town house and has just taken on a £120,000 mortgage! i just dont know how the young'uns cope these days.

[kwak zzr]

That redemption payment is a nice feeling isnt it

it sure is:) they still sting you for a closing account fee tho dont they;)

[adamfool]

now the interest rates are rising and the property prices are stabilizing it costs more now than ever to buy your own place. my niece just moved into a 2 bed town house and has just taken on a £120,000 mortgage! i just dont know how the young'uns cope these days.
around here, for a 2 bed townhouse, you'd be looking at paying the thick end of £200,000 now... i think i'll stay at home forever :o

[muzikill]

What should you do? well.. don't take this the wrong way but do what
two couples i know have ...........

Leave the country! emigrate, go to spain etc...

Any brit nowadays can think of a heck of a lot of reasons why, never used to be like that was it?

[kwak zzr]

i like our very wet county.

[leon c]

let the wife walk and buy a 2nd bike \\:D/

[kwak zzr]

i did joke about that to her, i said "if you leave me now you get 50% of the house" she said what would you do then? i replied "take my 50% and move in with my mom and dad, have a garage built and spend the lot on bikes and cars" :) she replied "got it all worked out havent you" :)

[RhythmJunkie]

Sit tight and let inflation blow up your house value...after a fair few years when the value has doubled and the kids have left home etc, sell the house move into a smaller property and spend spend spend! :)
By then you'll be able to buy that 300mph hoverbike you been drooling over.

[kwak zzr]

i like your thinking but me think house prices have just about peaked, mind you i said that 6 years ago:)

[timwilky]

There is always the problem of whether to make that final payment. You then have to sort out safe storage of your deeds. Mine are currently in my fireproof safe at work. Not ideal, really should be deposited with either my bank or solicitor.

[kwak zzr]

2 years ago C&G sent me my deeds and said just to keep them for my own records as now all deeds are kept on file on computer? i didnt think deeds was as important as they used to be?

[stewie]

Firstly well done mate, secondly I would book a holiday to somewhere exotic, like hawaii, etc and , thirdly dont get another mortgage , just enjoy your extra cash oh and buy another bike, ducati 1098 perhaps

[Warthog]

Get me a house Daz, its £250,000 for a terraced place in Oxford! Help!

[wyrdness]

There is always the problem of whether to make that final payment. You then have to sort out safe storage of your deeds. Mine are currently in my fireproof safe at work. Not ideal, really should be deposited with either my bank or solicitor.

I paid off the rest of my mortgage this morning, except for one grand which is staying in there, interest only. Since it's an offset mortgage, my bank balance will offset that money anyway. I'm trying to sell the flat to buy a house, but was wondering if I could get a 'let to buy' mortgage in order to rent out the flat and buy a house. Trouble is, I don't think that letting it will bring in enough to pay the mortgage.

[tigersaw]

There is always the problem of whether to make that final payment. You then have to sort out safe storage of your deeds. Mine are currently in my fireproof safe at work. Not ideal, really should be deposited with either my bank or solicitor.

I just bought a house outright 3 months ago - there are no longer any deeds, just a copy of the entry in the land registry, and you can lose that if you want.
When I gathered together all the paperwork and deeds on the old house, the solicitor said not to panic, they don't nescessarily need then anymore.

[454697819]

now the interest rates are rising and the property prices are stabilizing it costs more now than ever to buy your own place. my niece just moved into a 2 bed town house and has just taken on a £120,000 mortgage! i just dont know how the young'uns cope these days.


with great difficulty....

5 interst rises in 6 months fuel double what it was, car isnurance a joke,

and they wonder why so many ppl fall into large debt...

Im lucky i bought my house fpr a very good price and hopefully earning a substantial proffit too..

[fizzwheel]

If it were me I'd be basking in the glow of a large amount of disposable income :D

[kwak zzr]

I just bought a house outright 3 months ago - there are no longer any deeds, just a copy of the entry in the land registry, and you can lose that if you want.
When I gathered together all the paperwork and deeds on the old house, the solicitor said not to panic, they don't nescessarily need then anymore.

thanks for clearing that one up tigersaw, the copy of the land registry is what they are sending me now.

[tigersaw]

it sure is:) they still sting you for a closing account fee tho dont they;)

Yes, but you can get that back too if its unreasonable.
If you have your original loan offer and it states a fee of say £50 upon redemption, and they have just charged you £200 (for instance), thats unreasonable. A quick phone call is all it takes.
I got £75 back on mine.

[squirrel_hunter]

i just dont know how the young'uns cope these days.

We don't we just have to stay renting a room paying someone elses mortage off. In the mean time as much as we try and build some savings having left Uni with the average debt (20k last time I looked). When we finally have a couple of grand to put down house prices would have doubled again so we have to stay renting paying off the landlords mortage as we still can't afford anywhere.

[kwak zzr]

Yes, but you can get that back too if its unreasonable.
If you have your original loan offer and it states a fee of say £50 upon redemption, and they have just charged you £200 (for instance), thats unreasonable. A quick phone call is all it takes.
I got £75 back on mine.

they tryed to charge me £250 but i got it for £50 in the end because 16 years ago when i took the mortgage out it was £50 so they honored the price.

[Quiff Wichard]

have you considered..





plastic surgery?

xxxxxxxxxxxxxxxxxxxxxxx

[Stingo]

Well done!! Six years penance remaining for me!!:smt106

[Alpinestarhero]

Sit down, and do nothing :)

And hold on to all yer money :D

Matt

[kwak zzr]

have you considered..





plastic surgery?

xxxxxxxxxxxxxxxxxxxxxxx

cheeky git!;)





















:rolleyes: mmmmm:rolleyes: the nose? could do with a nose job:rolleyes: