Quinnwok Posted August 4, 2011 Author Share Posted August 4, 2011 No, I just bought it a very long time ago and am nearing the end of my mortgage. Anybody else who had bought a £30k house 25 years ago and then not extended or renewed their mortgage would be in the same position as me now. True £19000 in 1979, although had to extend on divorce, lucky though only by 20k. I really feel for people today. Link to comment Share on other sites More sharing options...
poppins Posted August 4, 2011 Share Posted August 4, 2011 A I right in thinking you do not work? (for a wage) Your ineligible for housing benefit because your a home owner, but you are in receipt of the higher rate of DLA? Maybe she's not the only one paying the mortgage in the house Link to comment Share on other sites More sharing options...
medusa Posted August 4, 2011 Share Posted August 4, 2011 A I right in thinking you do not work? (for a wage) Your ineligible for housing benefit because your a home owner, but you are in receipt of the higher rate of DLA? I'm ineligible for housing benefit because I insured my income before I got ill! How irresponsible of me! DLA is awarded irrespective of financial circumstances. Is that relevant to the discussion? Link to comment Share on other sites More sharing options...
ratter71 Posted August 4, 2011 Share Posted August 4, 2011 if interest rates go up ill put the rents up, i wont loose any houses but if the tenants cant pay, tough Link to comment Share on other sites More sharing options...
poppins Posted August 4, 2011 Share Posted August 4, 2011 I'm an OAP without a mortgage now, but I often think I would like to be 30 years younger and still have a mortgage Link to comment Share on other sites More sharing options...
ratter71 Posted August 4, 2011 Share Posted August 4, 2011 Is that relevant to the discussion? No but he has an agenda to push Link to comment Share on other sites More sharing options...
chem1st Posted August 4, 2011 Share Posted August 4, 2011 if interest rates go up ill put the rents up, i wont loose any houses but if the tenants cant pay, tough And the system will reward you with tax breaks. At least for now. But things are going to change. Your going to lose your council tax break for having an empty home. Your houses require maintenance. Your going to lose rental income as people choose not to pay exorbitant rents. If mortgaged you'll be repossessed and bankrupted. Link to comment Share on other sites More sharing options...
ratter71 Posted August 4, 2011 Share Posted August 4, 2011 And the system will reward you with tax breaks. At least for now. But things are going to change. Your going to lose your council tax break for having an empty home. Your houses require maintenance. Your going to lose rental income as people choose not to pay exorbitant rents. If mortgaged you'll be repossessed and bankrupted. Meh, there will be more families to take their place, rent to big families and theres always someone to take up the slack when you want to put the rent up Link to comment Share on other sites More sharing options...
Jeffrey Shaw Posted August 5, 2011 Share Posted August 5, 2011 Why don't banks extend a mortgage? Answer more profit in taking the home. Wrong. A repossessing first mortgagee retains only the amount outstanding on the mortgage account- just as if the mortgagor (borrower) was repaying the debt in full. The surplus sale proceeds (after sale costs) next go to any second mortgagee etc.; and the balance to the mortgagor. Link to comment Share on other sites More sharing options...
billicasper Posted August 5, 2011 Share Posted August 5, 2011 Updated posting Link to comment Share on other sites More sharing options...
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