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Soy... un hombre

Vivo en... Estepona


Mi firma en el foro es...

Unity is strength!!

danielca's latest forum comments


25 Jun 2012 10:13 AM:

In reply to Mike and Helen,I would suggest you also have to look at the inteerst rate you pay for your mortgage.

Mine is variable.I took out my my mortgage 3 years ago and my interest rate was around 2.25%.Today it is 3.6% which means I am paying considerably more in interest to the bank today than 3 years ago hence the incentive to pay off (at least part) of the mortgage.



Thread: Paying off an existing mortgage

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24 Jun 2012 3:39 PM:

I agree with the golden rule.That is: if you have surplus savings  then pay off the mortgage providing the savings rate of return in real terms(taking account of tax on the savings income) is lower than the interest you are paying for your mortgage.

There are of course some variations,like early redemption costs, and if like me you have a Spanish mortgage in euros but your savings are in sterling in the UK.Then you have to look at the foreign exchange rate; the costs of transferring sterling to Spain;the interest payable on the mortgage in Spain;and the interest rate and tax on your savings in the UK.

As has been pointed out, the uncertainty of the euro is another factor.If I thought Spain would come out the eurozone and revert to the peseta then I would not pay off my mortgage early. I am sure if this happened,the value of the pound would go up against the re-introduced peseta because the euro is being kept high against the pound due to the strength of the German economy.Take Spain away from Germany and the re-introduced peseta would plummet.Overnight my mortgage would be cheaper in real terms.

However,it now seems that Spains exit from the euro is unlikely and that Germany,the IMF et al will ensure that Spain stays in the Euro.(But there are no guarantees!)

So I have been hedging my bets by taking advantage of the 1.24 exchange rate by partly paying off my mortgage (in my case I can pay 25% p.a. of the mortgage capital without incurring a penalty).

But now I worry that the rate of exchange will go up to 1.30 soon and I will have lost out by jumping too early!!!

Is there no end to this anxiety!!!! But I am lucky that I can make choices,and even if some are wrong it is not the end of the world. 

So you literally pay your money and take your chances.

 

 



Thread: Paying off an existing mortgage

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04 Oct 2011 4:35 PM:

Hi my wife and I both have payg Hits mobiles and find them very good and reasonable to call home..

I had to contact them recently on their e-mail address and was happy with the service.

The only drawback is that you have to top them upat least once every 3 months or lose out.



Thread: EWTELCO

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22 Jun 2011 5:09 PM:

Jek,

I think you have crystalised the issue very well.

I agree with your analysis.

Thanks.



Thread: Voting and Democracy at Community Meetings

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22 Jun 2011 2:48 PM:

Hi Maria,

I am sorry but your reply does not make it clearer to me at least.

You have now introduced "shares" and "real majorities" into the discussion.

In my example below, where the vote was 18:2, is it possible for the  2 votes to outweigh the 18 votes if the Developer (who was included in the 2) still had ownership of the majority of apartments?

Thanks



Thread: Voting and Democracy at Community Meetings

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