I just got a sub 2.5% interest remortgage deal, without any stupid flopping about with current accounts or any other stupid crap.
There's 100 quid a month back in my pocket. Can't do that with rent or a sofa.
( Windy Pig I'm naturally quite suspicious about the moon., Tue 12 Feb 2013, 15:16, 1 reply, 12 years ago)

I'm not saying it's not financially clever.
I'm saying a mortgage is the same as any other debt. It's a debt.
( the mighty badger Aphrodite, on a bar stool, by your side, Tue 12 Feb 2013, 15:21, Reply)

I suppose the only way it's different is that if you need to pay it off, all you have to do is sell the house?

(PsychoChomp, Tue 12 Feb 2013, 15:23, Reply)

If you need to pay off the loan on anything else, you can sell that too.

( the mighty badger Aphrodite, on a bar stool, by your side, Tue 12 Feb 2013, 15:23, Reply)

Few other assets increase in value as quickly as property though.

( tangledupinblue hairy badge with moving eyes, Tue 12 Feb 2013, 15:27, Reply)

valid point, but I'd argue there's still a lot of people in deep shit becuase they made that very assumption
and it turned out to not be true.
( the mighty badger Aphrodite, on a bar stool, by your side, Tue 12 Feb 2013, 15:31, Reply)

fair enough,
It is a debt, but as said above most other things that you do get in credit do not hold their value.
Cars are a prime example, depreciation is a bitch.
( Windy Pig I'm naturally quite suspicious about the moon., Tue 12 Feb 2013, 15:32, Reply)

This is very true
but, I'd argue assuming that your house will appreciate is dangerous, as a lot of people are currently discovering. They won't always.
( the mighty badger Aphrodite, on a bar stool, by your side, Tue 12 Feb 2013, 15:37, Reply)