Greb147 6,810 Posted February 5, 2021 Report Share Posted February 5, 2021 I've just seen a house put up for sale in the village I grew up in for a good price, it needs a lot of work doing to it but offers great potential. I've been in my current house for over 3 years now, looking at my latest statement in those 3 years we've hardly payed fcuk all off, mostly interest. This new house is about 40 grand less for what I'd get for mine, doesn't mean fcuk all though when you've hardly got any equity in your house. It definitely pays to be a drug dealer, cash talks!! 2 1 Quote Link to post Share on other sites
Greyman 31,751 Posted February 5, 2021 Report Share Posted February 5, 2021 8 minutes ago, Greb147 said: I've just seen a house put up for sale in the village I grew up in for a good price, it needs a lot of work doing to it but offers great potential. I've been in my current house for over 3 years now, looking at my latest statement in those 3 years we've hardly payed fcuk all off, mostly interest. This new house is about 40 grand less for what I'd get for mine, doesn't mean fcuk all though when you've hardly got any equity in your house. It definitely pays to be a drug dealer, cash talks!! Or don’t buy nice new cars when you could pay your mortgage off Quote Link to post Share on other sites
Greb147 6,810 Posted February 5, 2021 Author Report Share Posted February 5, 2021 1 minute ago, Greyman said: Or don’t buy nice new cars when you could pay your mortgage off Need a motor mate, plus if you overpay too much you get charged for it anyway. 1 Quote Link to post Share on other sites
pesky1972 5,639 Posted February 5, 2021 Report Share Posted February 5, 2021 Aye, can be soul destroying in the early years of a loan. If you can afford to, think it’s a good idea to overpay your mortgage, even if it’s only a relatively small amount. Eats into the capital borrowed and makes a difference on the annual statement. 8 Quote Link to post Share on other sites
The one 8,586 Posted February 5, 2021 Report Share Posted February 5, 2021 Thats what we did aimed to pay of the mortgage by the time i was 55 overpaid it and it was gone before i was 53 , should of still put the money into a bank account we just spent it on crap or eating out twice a week nothing to show for it 1 Quote Link to post Share on other sites
Greb147 6,810 Posted February 5, 2021 Author Report Share Posted February 5, 2021 4 minutes ago, pesky1972 said: Aye, can be soul destroying in the early years of a loan. If you can afford to, think it’s a good idea to overpay your mortgage, even if it’s only a relatively small amount. Eats into the capital borrowed and makes a difference on the annual statement. Yep, my own fault really as it can come in handy on a rainy day or when a house pops up out of the blue. I've heard there's lots of interest in the house so chances are wouldn't get it anyway. Quote Link to post Share on other sites
Greyman 31,751 Posted February 5, 2021 Report Share Posted February 5, 2021 3 minutes ago, Greb147 said: Need a motor mate, plus if you overpay too much you get charged for it anyway. 7 years in my current transit mate £800 paid for it, your generation are conditioned to live on tick, ( and please don’t take it as me being a condescending old dick ) were as I was brought up to look at credit as the devils work, so when I had a mortgage I went without for years and just banged it down, as pesky said it will get easier 3 Quote Link to post Share on other sites
chartpolski 27,981 Posted February 5, 2021 Report Share Posted February 5, 2021 I got my mortgage when the interest rates were as high as 15%. Then when the rates started dropping, the bank would ask me if I wanted to reduce my monthly payments, but I would say "no, take it off the capital " and I would pay off the odd £1,000 every now and again. I had made sure when I took the loan that there would be no early repayment penalties. My mortgage was paid off years early, but the banks hate that ! Cheers. 6 1 Quote Link to post Share on other sites
Greb147 6,810 Posted February 5, 2021 Author Report Share Posted February 5, 2021 Just now, Greyman said: 7 years in my current transit mate £800 paid for it, your generation are conditioned to live on tick, ( and please don’t take it as me being a condescending old dick ) were as I was brought up to look at credit as the devils work, so when I had a mortgage I went without for years and just banged it down, as pesky said it will get easier I saved quite a lot in my younger years but went through a bad patch and spunked it up the wall. By the time I was wanting to buy a house most of my savings had gone. It is what it is so had to get the deal I got. Quote Link to post Share on other sites
dytkos 17,945 Posted February 5, 2021 Report Share Posted February 5, 2021 32 minutes ago, Greb147 said: I saved quite a lot in my younger years but went through a bad patch and spunked it up the wall. By the time I was wanting to buy a house most of my savings had gone. It is what it is so had to get the deal I got. Done that 3 times lol, the good news is I will be paying off my current mortgage later this year Cheers, D. 6 Quote Link to post Share on other sites
Ken's Deputy 4,462 Posted February 5, 2021 Report Share Posted February 5, 2021 " Mortgage "? Quote Link to post Share on other sites
Greb147 6,810 Posted February 5, 2021 Author Report Share Posted February 5, 2021 Just a pointless rant, shite that I've payed over 20k over the last 3 years and only about 3-5k has been knocked off the cnut! Quote Link to post Share on other sites
kanny 21,685 Posted February 5, 2021 Report Share Posted February 5, 2021 You got to look at your long term investment, then it all makes sense A better bet than bit coin. 2 Quote Link to post Share on other sites
Greb147 6,810 Posted February 5, 2021 Author Report Share Posted February 5, 2021 10 minutes ago, kanny said: You got to look at your long term investment, then it all makes sense A better bet than bit coin. Yes I get that. I made a mistake moving where I did tbh, nothing wrong with the house just not my village. Quote Link to post Share on other sites
hambone 950 Posted February 5, 2021 Report Share Posted February 5, 2021 9 minutes ago, Greb147 said: Yes I get that. I made a mistake moving where I did tbh, nothing wrong with the house just not my village. No one get your sense of humor? 1 Quote Link to post Share on other sites
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