0% Mortgage!

[Alfie]

Today is a great day. Today is the day my mortgage has gone:bannana:

Luckily (very luckily it seems) I sold the house at a price agreed nearly 6 months ago today I completed on the sale and have moved into rented as my money will grow if invested carefully far more than if I left in property. As prices continue to plummet I am going to sit back, wait for it to bottom out and then buy again. In the meantime It is a really nice feeling not owing a penny to anyone and having a very fat balance at the bank.

Now where did I put that C63 brochure.................

 

[Sp!ke]

Can you just shut it? You're not making things any better

 

[Mudster]

In the meantime It is a really nice feeling not owing a penny to anyone and having a very fat balance at the bank.

Get it under your mattress sharpish.....don't be trusting those banks!

 

[Sp!ke]

Ahh... that makes me feel a little bit better.

You said bank (singular) Alfie?

 

[bigyin1]

nice. I found out yesterday that my house is now worth less than it was when i paid for it 2 1/2 years ago and when it had gone up in value in between times too

 

[wemorgan]

Get it under your mattress sharpish.....don't be trusting those banks!

Not that I have any answers, but if inflation stays at 5% for 2 years then £100k stuffed under the mattress, will not only give you a bad back, but be worth roughly £90k in today's money.

 

[robert.saunders]

pleased for you Alfie; spread your dosh

 

[Mudster]

£30,000 in premium bonds would be a good start....

 

[Howard]

Yeah , nice .....

Rub it in .....

Saying that , there was a customer in at dads today and we were talking about the 'credit crunch' and he said ' Credit Crunch ? , what's that ? a new type of chocolate bar ? '

 

[Bobby Dazzler]

Times like this are when the rich get richer.

Alfie. If you want to spread the risk I'll look after it. I'm probably less risky than at a bank, and I promise not to pay myself any bonus for looking after it!!

 

[wemorgan]

Not wanting to distract from what is good news for Alfie, it's occured to me that your capital gains tax limit is 'only' £9200.

So apart from £30k in premium bonds and £7.2k in ISAs what other investment vehicles (pardon the pun) are there to minimise tax?

 

[A210AMG]

I still have my mortage for a while yet but..


Loan to value its very very little so its not all bad and the house price drop isn't all bad. Its the price to change at the end of the day. BAd if you owe a lot on your house I guess.


My day will come

 

[C240Sport97]

Not wanting to distract from what is good news for Alfie, it's occured to me that your capital gains tax limit is 'only' £9200.

So apart from £30k in premium bonds and £7.2k in ISAs what other investment vehicles (pardon the pun) are there to minimise tax?

www.nsandi.gov.uk -- look at tax free investments section

 

[Alfie]

Sorry chaps. I was lucky. No skill on my part at all.

Money will be spread around in different investment vehicles.

So..its off to the curry house tonight for a real nice meal.......I feel like celebrating.......

I still cant believe he didnt try and gazunder me.......

 

[rf065]

Sorry chaps. I was lucky. No skill on my part at all.

I hear Icelandic banks give a good return?

Russ

 

[nigel cross]

I hear Icelandic banks give a good return?

Russ

I think your investment might melt away in the warm light of day. As for the premium bonds, I have not really got a decent return on those, but still waiting for the big one.

 

[mw_C32]

Sorry chaps. I was lucky. No skill on my part at all.

Money will be spread around in different investment vehicles.

So..its off to the curry house tonight for a real nice meal.......I feel like celebrating.......

I still cant believe he didnt try and gazunder me.......

Well done Alfie, if it makes you happy then that is all that matters, enjoy the curry and enjoy smelling the roses too.....

It's great to hear some good news.

Do you want me to send you my brochures?


As for the premium bonds, at the begining of last year I had a spare £30K o ) I did not need the interest but needed it to be safe so I bought my full allowance of premium bonds to see how it would stack against the interest at a bank, strangely enough after 6 months I broke even, that is I won enough to equal what I would have got in interest less tax. Now the best thing was that it was way more exciting to win on the bonds than getting the interest..... and there was always the chance of the big one too.

Mark.

 

[timskemp]

Congrats dude. Stick it somewhere accessible so when the sliding property market stops sliding you can get a bargain reposession or two and do it all again in 15-20 yrs time.

 

[crockers]

I hear Greenland has a new bank offering coming out ....


so I would recommend you.........


Put your money Innuit....

 

[mapleleaf]

its a good feeling alfie , good on you. we had a simiar situation, sold our house 18 months ago and had the equity sat earning interest for a good 6 months till be bought another place. that was before the S**t hit the fan with the banks of course - so I guess we were lucky. Also didnt think capital gains tax applied to your main residence.