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  1. Amchlolor

    Amchlolor Active Member

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    Only pub is far too far to walk (beside the dual carriageway to town).
    One chinese takeaway, a pizza takeaway and a co-op.
    That's it.
    They always intended it this way, to keep the village feel.
    Certainly a peaceful place, apart from the inevitable monied young chavs with loud exhausts.:gun2:
     
  2. Ess_Three

    Ess_Three Active Member

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    Sadly, like many places now...it's just a big housing estate with little by way of facilities....not the village it once was.


    Ahh...of which I probably know some of them!

    Do you ever spot a yellow Colour Concept Mk3 GTI about?
    Or a blue R32 (was a red VR6 Mk3)

    Not Chavs...but from Kingswells (just as you go in, on the right...near a church? I think) and with noisy exhausts...


    Where I am you hear nothing...total silence during the day...except some penis with a Subaru from a nearby road...that irritating silly burbling noise those Chav Chariots make really grips my ****.
     
  3. Amchlolor

    Amchlolor Active Member

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    Don't know the blokes you do, they're way at the other end.
    I'm nearer the Bucksburn end.
    I know what you mean about the Subaru noise.
    I have my eye on some **** with a Corsa.
    i heard him the other night, accelerating out of a junction up the road.
    Flat out in first, second and then he hit the rev limiter in third.
    Even in a Corsa, that's got to be 60+mph, hasn't it?
    In a 30 zone...
    I'm going to have the chhhunt, I really am.
     
  4. Ess_Three

    Ess_Three Active Member

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    Got ya...
    I was round at my mates for beers only last year, and they took the road in from Busksburn. I didn't even know it existed!
    30 years in the NE and I never knew about that road.


    I suspect nearer 70-75 MPH.

    You can spot them outside where my g/f lives...it takes their rafts sooo long to get up the rev range with every one of the mosterous 70 BHP doing it's stuff...then bup-bup-bup as the limiter cuts in.
    Sad...


    Good luck!
     
  5. steve184

    steve184 Active Member

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    EXACTLY - all the big boys here sat their in their houses which they bought 5,7,9,11 years ago (when prices were more reasonable) can't get the gist of this. It seems quite simple to them - get debted to the eyeballs for the rest of your life, and risk losing everything (up isn't the only option you know - hello!!!!) just so you can say - 'hey i own my own house' - at the end of the day if you work hard you spend the money on what you want, you worked for it - not what 'people' think you should be doing.

    I don't really give a toss what people think - i work hard so i buy what i want - ok so i don't own a house and i am 28, but i do pay my way, and do save money for such a day that i need it - but thats really NONE of anyones business, and certainly shouldn't be speculated upon by anyone given you don't fully know full circumstances

    This really has gone completely off topic, and can i just remind that this forum is about cars NOT houses - try rightmove.co.uk or something!
     
  6. marriedblonde

    marriedblonde Active Member

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    To be fair you did kind of start it...

    So do you honestly think I was earning what I earn now when I bought my first house? Nope not even close. I was earning **** money and had a £65K mortgage - the maximum I was allowed to borrow. After I had paid the bills, bought food and travelled to work I was left with squat and I mean squat. I had no furniture apart from bits I managed to liberate from my parents house. I had an old knackered washing machine that someone was throwing out. When it broke I didn't have the money to get another one so used to either take my washing to my friends houses or my g/f parents house.

    I would think this is the same as most of the others on here. It's not a case that any of us where gifted a house!
     
  7. marriedblonde

    marriedblonde Active Member

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    Anyone remember the programme Dear John?
     
  8. Ess_Three

    Ess_Three Active Member

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    Or bought 2 years ago...in my case.
    Anyway...

    How do you work 'loosing everything' out?
    If I can't afford my mortgage - unlikely as long as I'm able to work - then I'll sell up.
    And regardless what happen to prices - within reason - I'll come out with some brass in my pocket.
    I remember the property crash of the late 80s...tell me Mr Expert...
    How many of those properties are still in negative equity?

    It's a big round number...
    0.

    If you can afford to pay the mortgage, you will be fine...and if you buy a house where you can't absorb a few % of a rise, you are foolish.

    Not exactly loosing everything methinks....and I suspect most work the same way.


    Which is fine...
    I feel the same...I don't give a toss how many people I upset by slagging them off for living with mummy and daddy (I don't know if you do, or do not...and don't care to be truthful).
    It's an opinion...
    Everyone is entitled to one.
    And opinions don't need to be formulated based on fact...


    Can I remind you that this is a public web forum and on here we don't enforce not straying off topic.

    If you don't like the way the thread has gone, feel free not to read any further...or frequent another forum.
     
  9. steve184

    steve184 Active Member

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    ...ok so you really think someone buying a house for the first time (on their own) would be able to get a house for 65k now? As you put it - nope not even close.

    The only thing i honestly remember starting is this thread - wondering how people finance their cars at young ages - this has ended up in abuse, so excuse me for at least trying to defend these frankly, unfair comments.
     
  10. Amchlolor

    Amchlolor Active Member

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    It's all relative though!
    Whether it's 1987 (when I bought my first house) or 2007, most people go to the limit of their salaries.
    My first mortgage was a 100% one.
    The fact of the matter is that you seem to have resigned yourself to bot getting a house, but have 'cheered yourself up' by buying a flash car instead.
     
  11. Ian W

    Ian W Active Member

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    I might as well add to this one...

    Im 25 and would love to own my own place but at the minute it just doesn't seem an option, all houses around here start at 110 k ish and on my salary (not giving exact figures but less than 20k) I have no chance of getting a sensible mortgage.

    I noticed in the local paper this morning a new build of flats that are going for sale, 80k each, this isn't to bad but its in a pretty undesirable area. Im willing to sink whats going to end up as most of my salary on my own place but I would much rather a house (obviously something small but thats fine with me). To be honest I wouldn't mind a flat but the location is a big put off.

    I do begrudge the though of sinking all my money in to a 1 bed flat thats in a pretty scummy area ( I know it well as I went to school there ! ).

    I am currently saving so I am going to be in a position to move out in the next 12 months hopefully and I am expecting to get a decent salary hike in the sime timespan.

    Its only been the last 12 months where I have been on what I would consider a decent ish salary considering I left school with very few qualifications (my fault, to much fun not enough work :no: ).

    I should also add I don't own an 8P A3 on finance I have a 2000 8L S3 which I bought with a loan (I have faced the fact that the car will go when I get my own place and I will pay the loan off and go back to a sub 2k shitter lol )
     
  12. Amchlolor

    Amchlolor Active Member

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    This isn't a completely new thing though.
    Back when I bought my first house (1987) there were the same problems.
    People got around it, somehow.
    They eithered borrowed more than they comfortably should have, on the premise that their wages would inevitably rise in time, or they even bought properties with a friend.
    In time, a deal would get sorted out when their circumstances changed.
    Bottom line is, none of my friends bought flash cars and stayed at home instead.
    We couldn't wait to get our own places, so cars/bikes waited.
    This "woe is me, aren't houses dear" just seems to be a modern day excuse for young people to live the life of Reilly instead.
     
  13. marriedblonde

    marriedblonde Active Member

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    Coincidently thats what I paid for my first house. I was mortgaged to the hilt. I managed to save 3 grand which was my deposit. My mortgage was 4 times my salary. And like I said I didn't have a pot to piss in.
     
  14. Ess_Three

    Ess_Three Active Member

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    Well, up until the Northern Rock fiasco...Lenders were willing to lend up to 5 x your salary.

    Say you earn £20-22k (not exactly a high paid job...probably realistic for a Uni qualified person in their first job) then they's lend you £100k easy.
    More if you can convince them you are a safe bet...or have a guarantor.

    Then add to that some deposit...say the basic 5-10% to get you into better mortgage deals territory...

    That's £110k.

    I think most will find somewhere for £110k ish...be it outwith their ideal area or shared ownership.


    I have a £250k + mortgage, on my own...
    I'm not proud of it...I wish I didn't have it sometimes...and it was difficult adjusting...but you just get on with it....so lenders WILL lend big, if you have a good debt record.



    As for financing cars...
    Walk into Porsche and ask them about a £100k 911 turbo.
    If you can find the £3k order deposit, the £7k to convert to 10% upon confirmation of order, they'll finance you the rest.
    That's £90k on finance...for a car.

    Money is too easy to get just now...

    I bought my first new car at 8 years old (a 1990 1.4 SR Nova).
    Drove my 1.0 in, drove my 1.4 SR out...financed the difference.
    It's been easy to get finance on cars for years...and the amount available just go up and up.

    Sorry you think it's abuse...I think it's brutally honest opinions.
    Others I suspect agree...
     
  15. marriedblonde

    marriedblonde Active Member

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    I'm with you on that.

    When I moved house under 2 years ago I went from my £62K mortgage to £225K. This was a bit of a jump, then to add to that in the 6 months from agreeing to buy the place and arranging the mortgage to actually moving in my wife became pregnant. And if you think houses are expensive try raising a little fella.

    J.
     
  16. Ess_Three

    Ess_Three Active Member

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    Similar here..
    Flat bought for £36k, earning £12k, a deposit of £3k ish I think, so 3 times my salary at the time.

    My current mortgage is a little over that now, salary wise...and it's been a bit tight, what with moving, fitting carpets, curtains etc...
    Ho-hum...it's downhill from now on. I hope.
     
  17. Ess_Three

    Ess_Three Active Member

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    My flat wasn't in the best area either...
    It was OK...and it was mine...but there were much nicer areas...none of which I could afford to be.

    I stayed there for years (12) and it still had the stigma attached.

    When I bought my 911 I was garaging it at a flat that cost less than half what the car did...and people couldn't understand why I stayed in the area...
    Incidentally, the car cost more than I sold the flat for too!

    But...it was my home and I got attached to it.
    I'm not really snobby about areas as long as it's safe.
    It was at least going up in value and allowing me to look forward to the next one.
     
  18. Ian W

    Ian W Active Member

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    I see where you coming from with that, just seems depressing when running through figures how much it all costs.

    Think im going to go and see them anyway and see if I can get some real life costs to see what the options are plus tbh I really don't want to sell my car !

    I reckon I would happy with a flat, basic furniture and an old CRT tv if I can keep my car with the purchase as with most people on the board cars are my only expensive habit !
     
  19. Amchlolor

    Amchlolor Active Member

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    It was in Torry then...:)
     
  20. Ess_Three

    Ess_Three Active Member

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    Steady!

    It was still Ellon...
    Just a part affectionately known as 'Minkymill'.
     
  21. Amchlolor

    Amchlolor Active Member

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    I don't suppose you know any of the Daniels in Ellon, do you?
    Eddie Daniel, maybe?
    He owns a building company up there.
    They seem to be quite well known.
    The wife is related to them.
    They took us to the eyetie place a few weeks back, where the owner sings....and then tries to flog you a CD!:applaus: :)
     
  22. Ess_Three

    Ess_Three Active Member

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    Yup...
    and the hidden costs add up - solicitors fees, stamp duty if applicable, getting the phone connected etc.

    Not to mention carpets, curtains, light fittings etc


    If it's a new build in an 'up and coming' area they are often keen to get people in...so may well offer free carpets, blinds, curtains, light fittings etc of your choice to sweeten the deal...which can save you £1000s.


    That's where most of us started.
    What was in my bedroom at the folks + MFIs finest flat pack.

    Don't forget about things like plates, kitchen stuff, bottle opener etc...the little things that add up.

    I didn't sell my car when I bought my 1st place...I kept my trusty SR Nova...but I just couldn't afford to change it for the next 3 1/2 years...and when I did it was for a 2nd hand Golf GTI I bought from my Dad at a very good price!

    I stayed in my flat and upgraded everything in the last couple of years before I moved (TVs, furniture, kitchen stuff, bedding etc)..so when I moved, it was all new (ish) and good...saving further expense when I needed it least.
     
  23. Ess_Three

    Ess_Three Active Member

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    No, sorry. Can't say I do.


    Ahh..the singing owner has now gone...the Chefs have bought it...only recently mnd.
    Still good grub, but no singing.
    Excellent!
     
  24. Ian W

    Ian W Active Member

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    I've had 7 Nova's, the last one less than 12 months ago so i'll give that a miss. I've still got my redtop Corsa but corsa gsi's and council estates = burn't out so not really a decent solution lol
     
  25. steve184

    steve184 Active Member

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    jesus... so im sad for not buying and foolish for buying... cos if i did buy (or anyone, on there own at this point) it is always going to be at the limit of what I/they can afford, if not a little beyond it - it is impossible to get away from that - what you expect me to do get a f%$££g portacabin?????

    trust me if i were to get a mortgage for 65k I would be scraping the barrel moneywise (without a car) and 65k buys you nothing now - certainly a downward step from where I am now, lodging.

    On the subject of foolish - what would be foolish is to get a mortgage now when at least two more interest rate cuts are expected this year - but hey guess i'll just have to be stuck with being branded 'sad' just cos i'm not being a lemming and jumping when everyone else does.
     
  26. treblesykes

    treblesykes Member

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    get your mortgage then wait for the cuts your rate will go down too.
     
  27. cdb2

    cdb2 Member

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    Plenty of ISA funds could make you that and more if invested wisely. You 'invested' 107k over 10 years and made 75k effectively. Even if you just invested 7k for each of those 10 yrs in an ISA in unit trusts you'd have only invested 70k and could expect to have made more than 75k if you invested wisely. As treblesykes alluded to ealier, some BRIC funds have made over 57% tax free in a year.

    If you invest wisely via a broker, monitor your funds and move them around in a funds supermarket you can make some very healthy returns. Like the housing market there is risk. I'd prefer unit trusts to 'buy to let' for my spare cash as 'buy to let' puts all your eggs in the housing market (i.e. your home and spare cash). Unit trusts spreads the risk and if a particular sector gets hammered you move it to a sector that isn't. At least you have some control then. You'll see on the web in many places people saying 'the Stock Market, on average has consistently outperformed the Housing market'. ISAs are not limited to cash ISAs and the stock market is not limited to the FTSE!

    Just my opinion and not financial advice!
     
  28. Ess_Three

    Ess_Three Active Member

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    That's not what was inferred...
    Sad, is a person who wants to live with mummy and daddy forever.
    Foolish is the person who buys a house which takes every last penny, and builds in no contingency for an interest rate rise.


    As has been said...people don't have to take a fixed rate mortgage.
    Take variable...then if the rate goes down...so you the payments.

    Using a possible rate cut as an excuse for not looking at a mortgage is the poorest excuse I've yet heard.
    But, your point about what you could get is valid...are there no shared ownership type schemes near you to give you a helping hand?
    They work for some people.
     
  29. TDI-line

    TDI-line Uber Post Whore Team Floret Silver quattro Audi A3 Black Edition TDi

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    I'm (nearly) 37, own my 1 year old sportback and T5 transporter outright.

    I have used finance and pcp's before, but find they take too much off your wages which i have now used for a slightly bigger mortgage.

    Just moved to a new area as house prices in Hemel Hempstead are absurd (as Olly K knows). We moved from a 3 bed end of terrace to a new 4 bed detachted with double garage just North of Peterborough with a slight increase in payments.

    Would love an S3, but as the wife uses the sportback to commute to work, diesel has to be the option.
     
  30. treblesykes

    treblesykes Member

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    "I'd try redoing your maths there, first house I bought cost £57k, paid for it in 10 years, total cost was £107k including interest, and I sold it for £182k. Now show me an ISA that would make me £75k in 10 years?"

    In this argument comparing property values to ISA performance is irrelevant. You invested in property only once the day you bought the house. Mortgage repayments are NOT an investment in property they are just a transfer of money from your savings to your mortgage. Your house would have still sold for £182k if you had not repayed a penny of your mortgage. Where as if you had put all that repayment money into ISA's you would have made a good return on those alongside your property gains.
    Your mortgage provider would obviously have gained a lot more interest from you in this time but the ISA's would have earnt you more than enough to cover this.

    I know this is basically a homemade endowment mortgage and endowments fell out of favour but with enough money invested in the right place each month endowments do work.


    It must be a great feeling to actually pay off your mortgage and be debt free I would love to experience that but for the time being I love my ISA's more than I hate my mortgage.
     
  31. steve184

    steve184 Active Member

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    Maybe i have bowfer maybe i have - simply because its something i can do without risk and without burdening anyone else if things go pair-shaped but thats obviously a really bad thing to do - according to you lot.

    I work really hard (in a job i'm not happy in - want to move on but takes a while) so excuse me for thinking i deserve to spend 'some' of my earnings on something I want rather than something i 'need'

    I don't ever remember there being a rule which said - you can't buy a niceish car until you have bought a property.

    As i said earlier its quite easy preaching from 'ivory tower type' positions.
     
  32. Ess_Three

    Ess_Three Active Member

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    You are correct...no rules...each to their own and all that.

    But your ivory tower comments don't stand up...since it sounds like everyone who has passed comments has been where you are. Hardly preaching...
     
  33. AndyMac

    AndyMac Moderator Staff Member Moderator

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    Will all due respect that's utter ********, yes the house would have sold for the same if I'd not repayed a penny, but the interest over 10 years would have doubled, so approx £100k of interest repayments as opposed to £50k, so how on earth anyone would think that was more cost effective I don't know. People just don't seem to realise how much interest you save by actually paying off chunks of the amount borrowed. I actually cannot believe anyone has fallen for the interest only model. Endowments got a bad press because basically none of them covered the original debt (I know I had one), so how on earth you can claim the opposite with millions of homeowners 10's of thousands of pounds out of pocket because of them is beyond me.
    It really is very simple, the only complication is of the finance industry's making as otherwise they wouldn't have a business.
    Most people have a mortgage, if they all pulled out of the investment industry and used the money to pay off their mortgages early then the industry would collapse. Many people would then be able to retire early which employers don't like. The whole game relies on enough people being in debt for long enough, with all their income tied up in pension plans & so called investments while their biggest outgoing continues to bleed them dry as they never pay any of it off, and end up remortgaging whenever they need to free up some cash.
    If you want to continue to play their rules knock yourself out. Personally I prefer to play to my own.
     
  34. steve184

    steve184 Active Member

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    Well that isn't what you said originally - you said ANYONE who lives with mummy and daddy at nearly thirty is sad, full stop - meaning irrespective of any other circumstances????? I disagree with this statement, far less than your original one - i agree that to 'want' to live with parents indefinately isn't the healthiest thing.

    Yeh i live with my mum, for the record. I never said for one minute, i will/wanted to do forever - i won't as for one, she won't be here forever for a start! But as it stands right now (job, personal situation), its what suits me, and contrarary to what you believe it suits her too - i pay a sizeable contribution to the bills, which she needs to live the life she has become accustomed to, since my dad died 6 months ago. In the meantime i'm saving for the day when it would be suitable for me to move out (whatever age that maybe). If she wanted me to move out she would tell me, and i would respect her wishes. When that days comes, I won't have mummy and daddy to help me out, give me furniture, etc which AFAIC is no different than sapping off them by living with them for free (the label i seem to be getting lumbered with)

    ...Not that i should ever have to justify myself to you, but felt your opinions are a bit short-sighted to say the least - not everything is black or white. According to you, i should just up-sticks and leave, get up to my eyeballs in debt for the sake of it, just so, in your opinion 'i'm not sad anymore'

    Well unfortunately I will have to stay 'sad' for a little while yet, and in the meantime i will carry on spending 'some' of MY money on things that i want - for which i do not feel guilty for - why should i!
     
  35. Ess_Three

    Ess_Three Active Member

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    ...and I shall continue to think of you, and people like you, as sad.
    OK?
     
  36. steve184

    steve184 Active Member

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    Think whatever makes you feel 'big' and hard in that ivory tower of yours, pal. With your attitude, it will come crashing down one day.
     
  37. Ess_Three

    Ess_Three Active Member

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    What a pathetic attitude...
    Because of course, I wasn't young once...didn't have a job...and didn't actually make the move, did I?
    No...that's right...I just woke up one day in a house....with no mortgage.
    How big and hard of me.

    ...and I very much doubt it'll come crashing down as I live well within my means.

    Looks like you have a bit of a complex about still being at 'home' at your age?
    Shame...
     
  38. steve184

    steve184 Active Member

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    I have a pathetic attitude? Go have a look in the mirror.

    Not saying you weren't young once - but when you were young the situation was very much different! I think you need to get in the right millenium as your obviously very much stuck in the past - times change - get with it.

    No complex at all - the only problem i have is short-sighted people like yourself who think they know it all but actually know absolutely nothing.

    I asked a perfectly reasonable question, originally, and certainly did not ask for abuse from yourself on how i choose to live my life (using choose very loosely as some of it isn't choice.)

    You have more of a problem, obviously about people who don't live their lives they way you think they should... throwing your rattle out of pram when they dare to disagree!

    Thats not a shame from my point of view... thats rather entertaining.
     
  39. yak

    yak Member

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    This thread should be locked, it's getting out of hands with Ess_Three and steve184.
     
  40. cdb2

    cdb2 Member

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    Agree partly with both andymac and treblesykes. Repayment mortgage all the way for me, you know where you are and I've paid chunks off. I have a family member who has worked for 2 banks, strangely enough both banks pushed endowments relentlessly and staff were instructed to do so too (bank made a lot of money from them). However, the manager didn't have one and wouldn't touch one and neither did he recommend them to the staff! Enough said!

    I personally wouldn't go the interest only model as I want to see the capital decreasing and whilst I love my ISA's I wouldn't want them to be there for the sole purpose of paying off the capital and the interest generated by the interest only mortgage in case the markets crashed at a key time. I believe in a balance. Having an interest only mortgage and ISAs as the payment vehicle is a bit more of a risk than I would accept but could pay off very well indeed.

    I personally pay chunks off the repayment mortgage, it is now at a very low level, I could pay it off totally but the money I could use to pay it off makes way in excess of the interest I pay on the mortgage so it makes sense to use it in ISAs as the net return is far greater. Paying 5% or 6% interest on a mortgage is nothing compared to say 30% tax free that the same sum in ISAs could generate in the year, absolute no brainer!!! For example I'll happily pay the building society 5% interest on 20k if it means I can leave the 20K in ISAs and make 30% tax free over the year! Bring it on! Not using your 7k ISA allowance is the crime! I wouldn't consider paying any capital off the mortgage unless I had used up my ISA allowance for the year. You just need to make the money work best for you with the level of risk you are willing to accept. We all have different risk levels so have different strategies.

    Just my opinion, not financial advice!
     
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