Re: Were endowment mortgages a good decision at the time?
<!--EZCODE BOLD START-->
<!--EZCODE ITALIC START--> Brendan<!--EZCODE ITALIC END--><!--EZCODE BOLD END-->, you will probably have noticed, as <!--EZCODE BOLD START-->
<!--EZCODE ITALIC START--> Mithrandir<!--EZCODE ITALIC END--><!--EZCODE BOLD END--> has, that some of my contributions are a wee bit tongue in cheek.
Getting real serious for a moment.
I think the theological debate about <!--EZCODE ITALIC START-->
"hindsight versus foresight"<!--EZCODE ITALIC END--> is a bit of a cul de sac, and I withdraw it. If someone shuts their eyes and darts across the dual carriageway and makes it to the other side before somebody who waited for the <!--EZCODE ITALIC START-->
green man<!--EZCODE ITALIC END-->, you wouldn't say the act was justified with hindsight.
On the more substantial point, I don't have actual figures to hand, but consider a friend of mine. She <!--EZCODE ITALIC START-->
(really is a she)<!--EZCODE ITALIC END--> took out a Scottish Provident <!--EZCODE BOLD START-->
EM<!--EZCODE BOLD END--> about 10 years ago. She got very concerned during the War. I told her to hang on in. She is now very pleased with her <!--EZCODE ITALIC START-->
carpetbag<!--EZCODE ITALIC END-->, thank you. However, my sense is that it would have stacked up anyway. Mortgage rates have halved. An <!--EZCODE BOLD START-->
EM<!--EZCODE BOLD END-->, being a geared investment in the markets, does especially well in such a scenario. Maybe someone who is closer to this than me can run up a few examples. Was the War really worth fighting after all? <!--EZCODE ITALIC START-->
(Don't get me wrong - I do not believe the average punter should be having geared investment in the markets, especially on the collateral security of the Home.)<!--EZCODE ITALIC END-->
My other (serious) point is that I definitely do not believe that the <!--EZCODE UNDERLINE START-->
same<!--EZCODE UNDERLINE END--> arbitrary 3% premium should apply to SSIAs as apply to funding to repay the mortgage on the family home.
BTW, what is TINSTAAFL?, I'm afraid to ask Mithrandir as he <!--EZCODE ITALIC START-->
(recently clarified correction to my misunderstanding)<!--EZCODE ITALIC END--> would only laugh at me.