I would just like to say

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My Old Landy said:
Yep, we are buying something that is less than half the price we are selling for ;)
Click to expand...

Sort of figured that would be the case:)
When the family moved from Dartford to Lowestoft very early 70s think they sold for 9 and brought for 6 :eek: the new house and garden (oh and a garage and drive:eek:) was huge upgrade, Walking distance to the sea too:)

Although we used to be within walking distance to the M25 when they were building it, my we came home in some muddy mess sometimes, Mum was not happy if I remember:eek::D.

J
 
Just sat outside with a glass in the late afternoon sun. It’s nice to hear the birds all Twittering and tweeting to each other.

Have seen the Jays today trying to sort out who’s gonna get it:eek:
Seen the little Chaffinches doing the same:)

And our friend the Wagtail made an appearance 2 days ago but seems to be alone at the moment:(

Summers coming:D

J
 
My Old Landy said:
I haven't really thought about it. It has been my retirement plan since the 90's. I did not expect to have to retire so early to be fair!
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When we rented a place out, we just had to rent out what we had, which although mostly OK was not always easy. But If we were going to go into it again I think we would look into talking to the local council asking what sort of properties they were short of. cos round our way, if you rent to the council they look after the whole thing and just give you money. They tend to ensure the properties get maintained etc
BUT, some disagree.
https://forums.landlordzone.co.uk/f...s/1066011-renting-the-property-to-the-council
We did at one time rent to a lady with loads of kids on benefit. They were absolutely lovely, no trouble at all.
Agencies seem to be a bit better nowadays, i,e on the question of actually doing something for the money.
There are loads of Landlords Associations you can join which, for a fee, will give you a lot of help.
https://www.google.com/search?q=sma...j0i457j0l2.6933j0j15&sourceid=chrome&ie=UTF-8
Well worth joining.
We found it the only way of making any decent money on capital. Would sure as heck help with the pension!:):):)
 
Stanleysteamer said:
We found it the only way of making any decent money on capital. Would sure as heck help with the pension!:):):)
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That is my problem, I am useless with money. To me it means nothing. If I have it I spend it, otherwise I don't (as in I will not borrow money). Apart from the mortgage I don't have anything on tick.
The pensions I have are my only investment as I don't trust people :) The pension company asked if I had an IFA, I had to ask what that was....... Once explained, I said 'no chance!' hey ho, I will survive I expect ;)
 
My Old Landy said:
That is my problem, I am useless with money. To me it means nothing. If I have it I spend it, otherwise I don't (as in I will not borrow money). Apart from the mortgage I don't have anything on tick.
The pensions I have are my only investment as I don't trust people :) The pension company asked if I had an IFA, I had to ask what that was....... Once explained, I said 'no chance!' hey ho, I will survive I expect ;)
Click to expand...
If you still have a mortgage, but will get a chunk of money from the sale of your place, then the usual advice, as with any debt, is to pay it off, as soon as possible.
Once you have done that you will not be paying interest on anything, so the mortgage payments will become new income, if you see what I mean.
We paid off our bigger mortgage early by keeping the payments at the normal rate when the mortgage rate was going down. We had to fight the mortgage company as they wanted us to reduce the payments as that would mean that in the end they would make more profit, by forcing us to not pay it all off before the end of the term. We almost had to involve the ombudsman. If you are going to pay it off early you will need to watch out for early repayment fees, which can be high. You usually have to give them about 3 months notice.
Like you, I am cr@p at investing money, except in houses! Wifey has shares all over the place, in a distillery and the Wensleydale Railway, amongst others! And are I FAs really independent? I wonder! I ended up taking a mortgage broker to the Ombudsman, for miss-selling Low cost endowment mortgage. Only legal case I ever lost, but it made no difference in the end fortunately.
My stepson is a whizz at investing and has been able to retire at about 50. And he and his son, who is only 11, are investing a lot in Bitcoin. Again something I know nothing about.:rolleyes:
Anyway, you have to move yet. so no rush over it all. Best of luck!:):):)
 
Stanleysteamer said:
If you still have a mortgage, but will get a chunk of money from the sale of your place, then the usual advice, as with any debt, is to pay it off, as soon as possible.
Once you have done that you will not be paying interest on anything, so the mortgage payments will become new income, if you see what I mean.
We paid off our bigger mortgage early by keeping the payments at the normal rate when the mortgage rate was going down. We had to fight the mortgage company as they wanted us to reduce the payments as that would mean that in the end they would make more profit, by forcing us to not pay it all off before the end of the term. We almost had to involve the ombudsman. If you are going to pay it off early you will need to watch out for early repayment fees, which can be high. You usually have to give them about 3 months notice.
Like you, I am cr@p at investing money, except in houses! Wifey has shares all over the place, in a distillery and the Wensleydale Railway, amongst others! And are I FAs really independent? I wonder! I ended up taking a mortgage broker to the Ombudsman, for miss-selling Low cost endowment mortgage. Only legal case I ever lost, but it made no difference in the end fortunately.
My stepson is a whizz at investing and has been able to retire at about 50. And he and his son, who is only 11, are investing a lot in Bitcoin. Again something I know nothing about.:rolleyes:
Anyway, you have to move yet. so no rush over it all. Best of luck!:):):)
Click to expand...
The mortgage is less than £30k so not worth paying off early because, as you say, there are penalties. I have retired at 55 but due to ill health so this move just means I can enjoy what time I have left pottering in my workshop :)
My Mrs stands to be financially secure and can do what she wants when I am gone :D
 
My Old Landy said:
The mortgage is less than £30k so not worth paying off early because, as you say, there are penalties. I have retired at 55 but due to ill health so this move just means I can enjoy what time I have left pottering in my workshop :)
My Mrs stands to be financially secure and can do what she wants when I am gone :D
Click to expand...
Pay most of it off so there is less interest ;)
 
My Old Landy said:
The mortgage is less than £30k so not worth paying off early because, as you say, there are penalties. I have retired at 55 but due to ill health so this move just means I can enjoy what time I have left pottering in my workshop :)
My Mrs stands to be financially secure and can do what she wants when I am gone :D
Click to expand...
Having read this
https://www.unbiased.co.uk/life/hom...n early repayment,than the deal period itself.
I can see that things have changed a bit since we were involved in doing it.
As you say, with normal life expectancy, paying it off early would be a good move even if you have to monkey around a bit to minimise ERC, but if not, it makes sense to enjoy the windfall. So enjoy it while you can!
 
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