Thread 13 Starmer - facts are for lefties

[DuncinToffee]

Previous thread:

www.mumsnet.com/talk/_chat/5214955-thread-12-starmer-from-prescott-to-rayner-working-class-grit?page=40&reply=140341929

I took out an endowment mortgage. Luckily for me I kept all the bumf they gave me. Although I didn't buy into the mega riches scenario, none of the projections provided demonstrated the possibility of a loss. That came in very useful when claiming compensation...

I had one too. No compensation because they’d sent me letters saying it was now projected not to make enough. I’d kept it going but switched the mortgage to repayment though, so when the two met I paid it off.

Endowment here too, partly because DH couldn't get life insurance. It's all paid off now, thankfully.

Same, and switched to a repayment 20 years ago, now paid off. BUT interest rates were about 10 or 11% when we took it out. Endowment would have been the only way we could have afforded a mortgage.

We had an endowment too, but at the time we took it out I worked with people who had received a payout from their endowment. Luckily we bought our house in 1987 so the mortgage wasn’t high so we paid off the projected shortfall over the last five years of the mortgage.

My dp took out their endowment before they bought their house. The house they bought a few years later would have left them with a reasonable por when it matured. Instead, it covered the balance just about.

I had an endowment, it was the only way I could afford to buy. I converted to a repayment mortgage when I sold the house after about five years.

We bought our house in 1998 and our mortgage advisor specifically advised against getting an endowment mortage.

They were being pushed hard in 1991. I guess the commission rate was good.

And as you say, it made repayments cheaper so more people could afford to buy. I bought my first place on endowment in 88 or 89, Converted it for the next two purchases and went repayment when I moved in 2001.

I bought my first house in 98 and insisted on repayment because there were already whispers that the endowments were going to fall short.

My parents took out an endowment in 87 and not only did that not meet. The final repayment they ignored the advice to let it mature, anyhow, and fell for one of the cash it in because it's rubbish sharks. My dad has always been terrible with money and this was no exception. My in laws made some bad decisions, too. I think there are a lot of people who simply cannot think beyond the end of the month.

And, thinking on there was a lt of talk on MN long time pre-pandemic of people who had bought with interest only mortgages and no re-payment vehicle, figuring they would sell up when the mortgage came to an end and be quids in with the profit they had made on the house.

I do wonder how many of those people will get to that point and be disappointed with their housing options once they have paid off their balance because it hadn't occurred to them that the slightly smaller houses that they would have considered moving to have also become a lot more expensive. And how many of those people will be angry that no one told them this would happen.

I think there are a lot of people who simply cannot think beyond the end of the month.

I think there are a lot of people who don’t have enough money to think beyond the end of the month. There have definitely been times in my life when that was the case.

Yes, same for me. Not now and I am very, very thankful for that.

And how many of them will find someone else to blame ....

I see a few Labour doom threads have popped up, guess with both reform and the tories vying for Leon's money it was only a question of time.

https://bsky.app/profile/josiah.writes.news/post/3ldlhjpur7s2b

A major boost in council funding for England has just been announced

Just one to add to the list - according to GBeeBees, going to bed is now "Woke"...

I could see the logic of getting up early as "woke", but surely sleeping has to be anti-woke 😴?

When (a) you can chose when to watch something and (b) the tsunami of choice becomes restrictive, rather than liberating, then early nights are hardly a surprise.

Of course the unspoken subtext here, is that the window to flood people with agenda setting propammercials is that bit smaller.

🙋🏼‍♀️🙋🏼‍♀️🙋🏼‍♀️🙋🏼‍♀️🙋🏼‍♀️

That's me!!!

My ds switched swim clubs post vivid so now I go to bed at 9pm because we get up at 4!!!!

Didn't realise it indicated my level of wokeness 😂😂

I get up early to muck out my horse. Does that make me privileged elite or woke?

Ah, the "Privileged Woke". Look out for the headlines in the Daily Heil...

I think you might have hit the heady heights of woke privileged elite @countrygirl99

I have been a woke tofu eating (although not a vegetarian, I just like it - really no excuse) podcast listener for a long time. It's no surprise that both my sandwiches and my alarm clock settings are also woke.

If you're only I had someone to bring me steak for lunch every day to dilute the wokeness a bit.

Well, I temd to be in bed by 10 most days and I'm woke as anything, so clearly GBeebies are on to something.