You don't have to pay it back. Until you die. And having made a substantial profit on that property (through luck or whatever) your beneficiaries could still be better off than if property prices had merely followed inflation.
Have you any idea how much decent care costs?
Because I don't know. I don't live there.
And not you trying desperately to wriggle out of the Tory government conning the poor once again?
Wow... tell me where I can get 10% on money deposited and I'll do it tomorrow - the full 10%, not 6%. I shan't need to borrow.
Three points:
(a) I don't need to be a home-owner to be able to borrow.
(b) I don't need to borrow anyway.
(c) What would I need to borrow for and why would it be "good" to pay interest on a loan I don't need and don't want?
(d) I realise that this doesn't apply to absolutely everyone, but your "You don't have to pay it back. Until you die" is a bit alarming. Like most people (I would say), I was brought up to be responsible with money and certainly not to let debt just ride, with interest accruing on a compounded basis.
There is no chance that I would leave my heirs to pay accumulated interest on a debt I don't need for things I don't want (and probably have enough to pay for anyway).
I bet that sounds odd to some people.
No. And neither is it an interest of mine (no pun intended).
<shrug>
Hahaha!
Oh... nice try.
Not deposited. Invested in high alpha funds/shares
Would you believe that Shell is up 60% since last summer?
British American Tobacco pays 3% dividend and is appreciating at a similar rate.
Right now global energy and mining are showing double digit retums...
Most require care of some sort towards the end of their life. Of course they may get if free from a relative. Many. however, will have to rely on what they can get from their local council, or pay the full costs.
But perhaps you think you'll have perfect health until you die?
How I plan for the rest of my time on earth is my business, of course.
And I shan't be asking you similar questions.
Not sure that is true, most obviously those who have a heart attack and die, and plenty just die of old age even now.
The accumulated interest is simply taken out of the massively over-inflated price of your property(ies). They don't have to pay a single penny out of their *own* resources, do they ?.
Are they incapable of making their own way in life ?. They all got £65,000 of 'free' education from 5 to 18 and many got free Uni education too. If they arsed about in school and wasted that opportunity that's their lookout surely ?.
What makes you think that their legacy is not "their own resources"? [or "?."]
You don't actually know what you are are talking about, do you?
But then, there is no way that you could.
So not your fault. But it *is* your fault that you don't let your ignorance of facts, however understandable, stop you from posting fantasies.
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