Mortgage overpayment - real figures included

[tonydisciple91]

@captainfarkus When intetest rates aren't 7% on a variable mortgage still at 80/20

 

[captainfarkus]

@tonydisciple91 When have euro interest rates being anything close to 7%?

Any ridiculously high rates like that would only be for very short term (as some cuch massive emergency crisis)

If they were ever this high for a significant term, then one would have a lot bigger worries.

 

[tonydisciple91]

@captainfarkus Don't shrug the possibility off. I get it's EU but I'm in Australia currently and variable rates are between 6.5 - 7%.

 

[rosyy57]

@tonydisciple91 Reality is though, if interest rates go up to 7% stock market returns will go up too because the money is worth less so inflation and pricing increases, and companies use percentages for profit targets.

 

[scottbrandon505]

@captainfarkus When? Most of known history in fact. We got below 5% only in 2002 (and looking at what happened next it might have been a bit of a miscalculation too).