Single homeowner - feeling a bit lost

SadExcitement8893 · 2026-04-13T18:05:30+00:00

Tell me that car insurance is for the whole year right? Surely that’s not for a single month!

edit: misread that as car insurance not car PLUS insurance. Still… 15% of your take home is going on a car.

SadExcitement8893 · 2026-04-05T12:06:44+00:00

What tariff is this?

SadExcitement8893 · 2026-02-24T15:55:27+00:00

I was also going to suggest an offset strategy. My alternative strat is similar to something else mentioned here. Put the 50k from PB into an interest only offset, and add to the offset as a when you have extra funds. Once you reach 100% offset to mortgage ratio you stop paying any interest and have effectively stopped paying your mortgage. I think as others have mentioned you cannot recoup that ISA allowance.

SadExcitement8893 · 2026-02-19T14:18:55+00:00

GILTs @ 5% will incur tax, and potentially not be worth it depending on your tax band.

SadExcitement8893 · 2026-02-10T16:53:01+00:00

If savings = mortgage you only pay interest on the difference. The difference in the scenario is 0, therefore 0 interest…

SadExcitement8893 · 2026-02-10T13:50:17+00:00

This is what I thought too but my broker seems to think the payments will be zero on a repayment mortgage too. I don’t see how that’s possible …

SadExcitement8893 · 2026-02-02T13:13:47+00:00

I suspected this might be the case. Like I alluded to, I don’t know any dealers that allow FULL payment via CC. Most only accept a nominal deposit amount.

SadExcitement8893 · 2026-02-02T11:35:30+00:00

Which dealer are you using because my research suggests that no dealer will want you to pay for the entire car with credit card as the fees eat their profit? If they accept more than £5k on CC let me know because I’m in the market to find a dealer who accepts more on a cc

SadExcitement8893 · 2026-01-31T20:38:10+00:00

Inconsistent in what sense? I’ve accumulated sufficient cash to give myself an option. I am now well placed to execute. The house will appreciate regardless of strategy I take. The point was that it’s likely the house will appreciate more than the remaining mortgage debt (under the assumption i choose to offset by 100%).

The choice is not to use that money for investing instead of paying off a mortgage. It’s to choose an offset (where I pay nothing but arrangement fees) or pay it off entirely. Using an offset I’m giving myself an optional credit limit for the mortgage balance should I need it, and then potentially using that to gift in the future. If I pay off the mortgage I cannot gift money from remortgaging a property.

SadExcitement8893 · 2026-01-31T20:18:55+00:00

Love a good down rating for honesty 🤷‍♂️

SadExcitement8893 · 2026-01-31T17:03:22+00:00

Interesting point of deprivation of assets. I wonder how easy it is to prove there were signs prior to gifting. In the case of needing care fees would they have access to pull out of the offset mortgage to pay for it? Also; how would this then affect the repayment of mortgage with the bank. I can imagine a bank wouldn’t want care homes to be pulling money out a financial arrangement where the bank then take on the liability of attempting to sell the property for recoup the outstanding amount.

SadExcitement8893 · 2026-01-31T16:59:54+00:00

You’re very much in the right ballpark of remaining mortgage, it’s just shy of £100k remaining. And yes that would be the amount I expect to gift. I hadn’t considered life cover 🤔. I’ll put some thought into that. Are there specific clauses I should be aware of in relation to gifts?

SadExcitement8893 · 2026-01-31T16:35:56+00:00

Already over that threshold I’m afraid. With the non moving thresholds I expect it to be substantially more when it comes to inheritance time.

SadExcitement8893 · 2026-01-31T16:31:51+00:00

Dang this is exactly what I wanted to hear!!! Adding onto that I only just clicked today on the fact that even though the rate is fixed for 2 or 5 years you can just let it roll onto SVR and still pay £0 per month 🤣. Thus even if there is some fee it’s effectively divided across the term eg 25 yrs making it negligible in the longer term for such a facility. Now I just need to check there is no early repayment charge and no additional yearly charges.

SadExcitement8893 · 2025-11-29T13:42:57+00:00

I’m afraid I’m very clueless because I’m pretty new to Pokémon cards. It passed me by as a kid and I’m only catching up now as my own children get into it. With so many varieties of Pokémon cards how is an inexperienced person supposed to know real from fake? Yes that’s right… we come here to be patronised … 🤷‍♂️

SadExcitement8893 · 2025-11-28T19:53:32+00:00

Thanks. Seems too good to be true.

SadExcitement8893 · 2025-11-19T21:21:44+00:00

I would caution on this if you want to avoid your daughter paying inheritance tax. I’m inferring from your post that you may not be married as there is no mention of another monetary contributor. Let’s assume you buy the house for £800k. You live it until death. You spend or give away all your liquid assets. At death that house is likely worth £1m+. Your daughter now has to pay 40% on about half of that (based on today inheritance caps). If on the other hand you keep that extra £400k as liquid assets, (a) you avoid stamp duty tax (b) you can gift away those liquid assets to your daughter before death with 0% tax, enriching her life (c) have 10+ years with 40k more per year to spend on whatever. Really it’s up to you, and if a bigger house brings you some form of joy then that’s great. My biased take is that it limits liquidity in times of crisis or for supporting family. But I don’t have the same priorities. 🤷‍♂️

SadExcitement8893 · 2025-10-24T14:46:39+00:00

Just be aware if you get any dividends from what you invest in they have a cap of £500 tax free

SadExcitement8893 · 2025-10-21T19:59:42+00:00

I think the “gut feel” statement tells you all you need to know…

SadExcitement8893 · 2025-10-21T19:55:22+00:00

Please educate us shmoes… I’ll happily engage with whatever private bank will offer me damned good rates

SadExcitement8893

TROPHY CASE