h2g2 The Hitchhiker's Guide to the Galaxy: Earth Edition

"You know, you're right - he DOES look exactly like Dylan "

oops, missed that! See, I said I knew whereof I spoke!

As for house prices, well, one lot say there's gonna be a crash, one lot says nowt much'll happen and one lot says they are still booming.

All i know is that there are a number of people with huge mortgages at top end prices and when we hit 5.25 or higher interest rates there's gonna be some heartache!

Hmmmm, me going to be right smug git!! Well at least for a couple of years anyway, cos we just managed to get onto a fixed rate for 10years before the raise before last. We are now paying less than we would have been on our other one! Knowing me, now i have decided to fix it for ten years interest rates will stay low for nine years, then start going up again just as I have to go back onto variable rate...

Thanks abbi

But that's not me - it's my daughter and HER daughter. I look more like the house - old, crumbling and slightly green around the gills

Yeah, it's difficult to know which way to jump isn't it? We've got a smaller mortgage than we had at the last place and of course a smaller place is generally cheaper but if we'd hung on for another year before downsizing that one would have been worth a LOT more

I'm actually hoping rates go up. We have a 12 year old endowment policy that isn't actually going to pay off the mortgage unless they do.

you and us both Tef.... We deperately need the endowment type unit/bond investment thing whatever it is to improve! Dont want to keep getting the "guees what? you thought you'd be able to pay of your mortgage, well you were wrong" letters!

We have tried to complain via the ombudsman about mis-selling to no avail! We were naive first time buyers who foolishly listened to the sales patter without reading the forms we signed! EVEN MORE

Conversation went summat like

"Oh yes, you'll have some left over at the end, its a great way to pay off your mortgage."

"but what if there isnt enough money at the end"

"hah haha , dont worry there will be. I've never heard of a long term endowment not paying off."

Oh really!!

You were eavesdropping on our conversation?

Well I have to admit I took one look at the endowment mortgages and thought 'But I don't do gambling' and went for the variable rate which means I am now almost on the same rate of interest as friends that bought about 3 years before me (so 5 yrs ago) but have managed to pay a fair bit of it off so am actually paying a lot less than them.

But I will be looking to go fixed/capped if I get a bigger mortgage.