Over half of interest only mortgages may never be paid off , leaving the average short fall of £70,000 . Exactly , I'm just ahead of the curve !!! Spend your life paying for a house ? It will never be yours . You can be sure of that . A tread mill fed by desire . The banks will always be laughing ...
". But renting is the same price a month as buying so renting is throwing your money away and you will never own it...". Well even if you do pay your mortgage off you have paid so much in interest by then how can that have helped your life's finances ? What a cost ! And interest rates are at an all time low today thanks to bank bail outs so they will rise in the future. Your goal of ownership will be further away so longer working hours are gonna be ahead . Retirement ? Forget it . Banks love this as the Government must too . Soon renting WILL be the cheaper option in the future . RENT AND POCKET THE DIFFERENCE !!! Oh and here's the BEST part by the time you've payed it off you're gonna DIE !
But hey you OWN that house !!!! ( maybe ? ) Wanna move ? Well selling is gonna be a nightmare...Bad neighbour moving in ? Your fucked ! Renting solves these hassles , it just needs an open mind and less in flated egos . House repairs ? Yeah you get the picture .......
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