Why would Harry need a mortgage?

[IwasToldThereWouldBeCake]

The Spare (unusual bits) thread is closed.... But I just wanted to add:

Harry claims to have successfully procured a mortgage. Is this feasible given he wasn't working at the time. Would he need one, given his inheritance from Diana and the deals he was brokering with Netflix and his book.

I thought this must be a farce..... Trying to get down with the average man with usual responsibilities.... I just don't think its true.

I laughed out loud a lot while reading the book, but I also thought Harry s recollections reminded me of the skewed life views a lot of heavy weed smokers seem to have. The angry, resentful, hostile shut downs of anyone that doesn't agree with their world view. The preference for projecting messages from animals and from hearing messages from the universe, rather than accepting feedback from humans seems self indulgent.

The endless projection and victim hood and benchmarking, are all traits I ve come across from spoilt, weed smoking, angry man babies.

I thought the book was written with a popularity checklist in mind; the average family have to pay mortgages, let's pretend I do too. People like Friends, so do I, I'm a regular guy. I m down with the peeps with my drug dabbling and heavy drinking.... I occasionally pee myself, and goof around with the young and old.

I do hope that Harry s life becomes happier and healthier. I hope he will be invited to the coronation and that he can grow from all of the honest reviews of the book. It's finally time for him to grow up.

I thought the car Diana died in was a cut n shut and the seatbelts didn't work in the back.
I read Trevor Rhys Jones story years ago and I'm sure he said he was wearing a seatbelt.

Since Diana's death, the Royal Family have a long standing arrangement with the press that they get limited access, such as a quick photoshoot on the first day of their holiday, and then they are left alone. Harry and Meghan refused to enter this agreement and then complained about the press intrusion. They need to take responsibility for their own decisions.

A deal with the British press. The world's press is different outside the U.K.. Photos that aren't shown in the U.K. are in places like France. However, interest isn't huge and the photos not of much interest unless they do things like sunbathing topless (Kate early days).

What Harry and Meghan have done is make their international interest significantly higher and therefore they haven't a leg to stand on now when it comes to complaining about the press intrusion. This will include their kids, although probably their faces will be blurred (to avoid being sued).

Just joining for the interesting info about mortgages in the US - had no idea it worked so differently there.

This is the first time I've seen Diana criticised for her landmine campaign. Because she might've robbed her sons of a Mother. WTAF. The area she walked on was cleared.
She was widely praised for shining a light on the use of landmines and that legacy continued for a long time. You're the first person I've encountered who looks at it negatively. That's an own goal OP. Diana might've had faults. That wasn't one of them.

Having a mortgage really isn't a weird choice for the very wealthy - it all comes down to the cost of the debt vs the returns they can get elsewhere.

There are plenty of large multinational companies that have debts secured on their assets too (despite not strictly needing to), because if the debt costs less than the money you can generate by investing elsewhere, it's worth it.

Paying off mortgages is a goal for little people (like me!) who will need to service the debt using earned income, and therefore run the risk of losing the house if that income dries up.

If you have the cash anyway, and are just investing it for a good return elsewhere, there is no risk involved.

Most multi millionaires I know (and I know 10+ from my line of work) have mortgages. It’s pretty common, particularly as until recent the stock market and investments outperformed interest rates.

It’s leverage. My mortgage rate is fixed at 1.25%. I could pay it off tomorrow with my stocks ISAs but they have averaged an 8% return over the last 15 years so it makes no sense to pay off mortgage.

The bodyguard was in fact the only survivor of the car crash.

And he wasn't wearing a seatbelt, just like the others. He was just lucky that night (if you can call it that).

Yes it is mortgaged, he's stated he doesn't want to touch his inheritance because it's for the kids

He says this, but in the book he also talks about being smuggled into the boot of his car to avoid the paps.

I couldn't help thinking this was a very dangerous move, after he'd already talked about his mother and best friend dying through not wearing seatbelts.

These mansions in california don't come cheap you know!!

Even when they come cut price from a dodgy oligarch.

I was No.Diana can and neither am I a royalist ,but the crash was hardly her fault they were being g chased by the paparazzi ,she made an ill judged decision not to wear her seatbelt and paid the ultimate price this comment is extremely poor taste

to have a mortgage in the us is used to reduce tax burden.

The benefits of leveraging and or maximising returns by investing elsewhere aren’t just just limited to the US.

This is basic bog standard financial advice that any high street financial adviser would provide. Martin Lewis has covered this in his programs. It just depends on your age and the level of risk you’re willing to take.

For the majority of 30-40yr olds, I’d imagine surplus funds would be prioritised towards increasing income rather than being mortgage free. Anyways, whatever Harry chooses to do with his money is not our concern.

I don't really agree with the reasons given for why they took out a mortgage. Really wealthy people do not borrow via mortgages unless their friends own/run the bank in question.

The 30-40 paper millionaires described here are usually obsessively financially driven millennials from much lower classes taking their advice from MSE and similar.

They are two not talented people in an unstable, rushed relationship who have been given a high risk, high return opportunity which could go badly wrong.

If paying for their house is linked in with how much they earn and they eventually got repossessed, Harry (either alone of with Meghan) would toddle off back to a mate's mansion with his £20 million still intact. It is about recognizing that they are chancers venturing onto shaky ground and their money is not where their mouth is.

Wasn’t there a recent report about him being in a car and not having a seat belt on? It could have been during the Jubilee, I’m not sure.

I don't agree about the Land Mines OP, but I do think there is a lack of acceptance that if Diana had worn a seat belt she would have lived. There's a lot of 'the press killed her' which isn't helpful. There was no need for the speeding, and every need to wear a seatbelt.

I think a mortgage is pretty normal, but that Harry is going on about it is silly.

It seems being thrilled you’ve paid off your mortgage is a sign that you’re not well off 😵‍💫 I’m now mortgage free and I’m not well off so it must be true 😁

The Bodyguard who survived was not wearing a seatbelt.

Yes, he was. And he was in the front seat. Still living in Wales, I think

Really wealthy people do not borrow via mortgages unless their friends own/run the bank in question.

Of course they do! I'm amazed that so many people don't know this. They don't take out mortgages because they can't pay for their house outright (like the rest of us plebs), they take out mortgages to invest for higher returns.

Wealthy person borrows large amount of money by taking out a mortgage (or another type of loan but mortgages are particularly cheap). Mortgage accrues interest at, say, 7%. Wealthy person invests the money they've borrowed in something that provides a much higher return, say 15%. Therefore they make money on what they've borrowed. Effectively using someone else's money to increase their wealth.

He had extensive injuries and can't remember the crash. I believe an inquiry found that no one in the car was wearing a seat belt, but I have read reports that he may have put one on just before the crash. if you look at the paparazzi pictures taken that night, he wasn't wearing one.

Really wealthy people do not borrow via mortgages unless their friends own/run the bank in question

😂😂😂

The more time I spend on here, I realise there’s an awful lot of people that are committed to their stupidity.

I’d love to pick the brains of a HNW financial planner. I’d imagine there’d be some very creative financing and tax options for HNW individuals at that level.

Even an offset mortgage with say 50 million liquid cash in the bank, would likely accrue you enough income from interest alone to not only pay down the mortgage but also cover your your day to day living expenses.