I would just like to say

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Shimsteriom said:
If I were to pay the minimum amount each month off the mortgage I'd have just shy of 11 years left but by overpaying it, as I am now, it'll be paid off in 5 years.
The 5 years will be the amount of time that I need any potential investment to reach an amount that would be needed to pay off the mortgage.

As with all investments, the longer the better so as I said earlier I may have left it too late and that overpaying the mortgage is the better option.

We'll see once I've crunched the numbers :)
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Keep paying your mortgage off:).
I always paid more and when the rate went down still paid the same, I still dont actually know how much earlier I finished paying but when I looked at the bank account and suddenly had a **** pile more in there than I was expecting its a good feeling:D. It builds quick if your lifestyle doesn't change.

Even with the low rates on mortgages these days (dont know what you pay) its still hard work to earn more (guaranteed) on invested money.
We have earned well above bank rate on our investments but then we had a lump sum to begin with, But they take their cut even if you lose. So you have to be very carful of the charges, some are well hidden;).

J
 
marjon said:
Keep paying your mortgage off:).
I always paid more and when the rate went down still paid the same, I still dont actually know how much earlier I finished paying but when I looked at the bank account and suddenly had a **** pile more in there than I was expecting its a good feeling:D. It builds quick if your lifestyle doesn't change.

Even with the low rates on mortgages these days (dont know what you pay) its still hard work to earn more (guaranteed) on invested money.
We have earned well above bank rate on our investments but then we had a lump sum to begin with, But they take their cut even if you lose. So you have to be very carful of the charges, some are well hidden;).

J
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Whilst I agree with the majority of that, the charges should be up front on investments these days. Mine were all laid out and the percentage they take. As you say, they take it even if the investment has lost money.
 
My Old Landy said:
Whilst I agree with the majority of that, the charges should be up front on investments these days. Mine were all laid out and the percentage they take. As you say, they take it even if the investment has lost money.
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Yes, but unless you are willing to grill them on the charges there will be hidden 1s. When you change investments around there are charges when you do nothing there are charges, So a lot to look at. Also depends on what type of investment you take.

Also depends on what you invest in, and how much you can change along the way.

By no means are we investment specialist's our lump was put in for some return and is tied up for 10yrs(5 to go) but there are get outs.
At the moment the rentals do better on their own (not as a lump due to covid), but it was put there to split ways to invest.

Personally best investments have been made in property.:) At the moment:D.

Its all very complicated for a landy owner really that only wants to get from A to B:eek:.

J
 
My Old Landy said:
Whilst I agree with the majority of that, the charges should be up front on investments these days. Mine were all laid out and the percentage they take. As you say, they take it even if the investment has lost money.
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It's hilarious isn't it?
They advise you, or manage your money, it goes t!tis up but it isn't their fault. It's your fault for using them. so they deserve their cut anyway!
How many other businesses manage to make money this way?
Crooks
Edit:
Oh of course, lawyers, medics and teachers! But you can at least make life difficult for the last two lots.
 
Stanleysteamer said:
It's hilarious isn't it?
They advise you, or manage your money, it goes t!tis up but it isn't their fault. It's your fault for using them. so they deserve their cut anyway!
How many other businesses manage to make money this way?
Crooks!
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It is the same with financial advisers. If they lose your money then tough luck. That is why I do it on my own. If I lose my money, that really is down to me!!
Edit: You meant FA's but I was initially talking about a direct investment. I am never very good at stating my position :(
 
My Old Landy said:
It is the same with financial advisers. If they lose your money then tough luck. That is why I do it on my own. If I lose my money, that really is down to me!!
Edit: You meant FA's but I was initially talking about a direct investment. I am never very good at stating my position :(
Click to expand...
It was a FA, a bloke whose kids I taught and whom I at least sort of knew who with successive house purchases in the 80s, advised each time we moved to take out another Low cost Endowment. then i separated and divorced and he again advised one to enable me to buy my ex out.
I did in the end involve the ombudsman but all they came up with was that he had done no wrong, based on conditions at the time.
You'd have thought he would have said I was putting all my eggs in one basket, or 4 similar baskets. But no, he just pocketed his cut/kick-back from the endowment company.
So we dug ourselves out of the poop by renting out one house while living in the other.
 
...have spent the a.m jacking up the Disco on all four corners. The bearings all seem very sound.:rolleyes:
Topped up the autobox. Took very little in the scheme of things.
Off in a while to listen to some jazz and drink some wine at a Chateau we patronise.
Wishing I had a 7 seater Disco instead of just a 5 seater, with the family coming an orl.
We'll all have to travel in their campervan.:eek:
Have a lovely evening folks!:):):)
 
Stanleysteamer said:
It was a FA, a bloke whose kids I taught and whom I at least sort of knew who with successive house purchases in the 80s, advised each time we moved to take out another Low cost Endowment. then i separated and divorced and he again advised one to enable me to buy my ex out.
I did in the end involve the ombudsman but all they came up with was that he had done no wrong, based on conditions at the time.
You'd have thought he would have said I was putting all my eggs in one basket, or 4 similar baskets. But no, he just pocketed his cut/kick-back from the endowment company.
So we dug ourselves out of the poop by renting out one house while living in the other.
Click to expand...
Each pension company I have dealt with told me to get an FA. I stated my reasons why I wouldn't and they were shocked! I just don't have the trust that some do with such people.
 
I have received the requested information from a couple of investment providers and after running the numbers the timescale that I'm working to doesn't warrant investing purely with a view to paying off the mortgage early.
If I'd considered this a decade ago it might have been worth a try but it's too late now.

However, the numbers do work for me if I just want to chuck a little in to an investment plan each month while continuing to overpay the mortgage. This would purely be for savings and not necessarily to settle any outstanding debt. They've including all the fees that I would be charged and I can't imagine there would be any hidden ones after reading their fee sheet. The benefit of dealing with a Island based company is that they have quite limited potential customers so have to be careful about things like hidden charges.
 
Stanleysteamer said:
...have spent the a.m jacking up the Disco on all four corners. The bearings all seem very sound.:rolleyes:
Topped up the autobox. Took very little in the scheme of things.
Off in a while to listen to some jazz and drink some wine at a Chateau we patronise.
Wishing I had a 7 seater Disco instead of just a 5 seater, with the family coming an orl.
We'll all have to travel in their campervan.:eek:
Have a lovely evening folks!:):):)
Click to expand...
Enjoy your evening :)
 
Stanleysteamer said:
with successive house purchases in the 80s, advised each time we moved to take out another Low cost Endowment
Click to expand...
Similar story here but it worked for me. Bought a house in 1982 and took out a low cost endowment. Seven years later moved house but took the endowment over to the new mortgage, and another endowment to make up the difference in mortgage size. The first endowment matured seven years before the end of the "new" mortgage, with a huge excess in bonuses. This all went to reduce the second mortgage, leaving £15k to pay off the total. So I went into the local branch and wrote a cheque out to pay off the mortgage. This left the second endowment to mature and it all went into my arse pocket, again with a substantial payout far in excess of what was expected :D. Endowments were designed to work over the long term but a lot of purchasers lives changed for all sorts of reasons and suffered from the short term lack of performance when they cashed them in or ended their mortgages early.
 
Anyway enough of this money ****:)
Evening folks:).

It got bloody ot and I didnt complete my list:( maybe I will get spanked later:eek::D.
Still there is always tomorrows saturday:).

It is supposed to get really wammm from now this week, Oh well more cooling effect and less work it will be then:).

J
 
Shimsteriom said:
I have received the requested information from a couple of investment providers and after running the numbers the timescale that I'm working to doesn't warrant investing purely with a view to paying off the mortgage early.
If I'd considered this a decade ago it might have been worth a try but it's too late now.

However, the numbers do work for me if I just want to chuck a little in to an investment plan each month while continuing to overpay the mortgage. This would purely be for savings and not necessarily to settle any outstanding debt. They've including all the fees that I would be charged and I can't imagine there would be any hidden ones after reading their fee sheet. The benefit of dealing with a Island based company is that they have quite limited potential customers so have to be careful about things like hidden charges.
Click to expand...


Not that clued up on this but........ I gave my financial advisor a wedge of dosh beginning of last year when the markets were low (ftse 6.2) now markets at 7.0ish so I’ve made a bit but the markets are quite high to be putting money in at the moment.
 
Def90man said:
Not that clued up on this but........ I gave my financial advisor a wedge of dosh beginning of last year when the markets were low (ftse 6.2) now markets at 7.0ish so I’ve made a bit but the markets are quite high to be putting money in at the moment.
Click to expand...
I moved 90k into a medium yield investment portfolio in October last year. It has made me 9k so far and there is still 3 months to go. It could still crash and burn but hopefully it won't as that's next years income :)
 
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