Chip and PIN

[Clive D. W. Feather]

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In article <E637FC5B-1304-4961-9389-1F0131681147@batten.eu.org>, Ian 
Batten <igb@batten.eu.org> writes
>People had three choices: a repayment mortgage, which would repay their 
>mortgage.  An endowment mortgage, which would repay their mortgage and 
>(almost certainly) provide a large tax-free lump sum on top.  And a 
>low-cost endowment mortgage, which would repay their mortgage if the 
>investment gain in a fund they didn't manage was sufficient, and 
>provide a tax free lump sum if the investment gain  was even larger. 
>It would, however, be cheaper than a full-cost endowment.

Those were the options we were offered in 1982. We invoked Khyaam's Rule 
[*] and went for a repayment mortgage, on the grounds that we ended up 
paying less interest and could see the loan going down.

[*] "Take the cash and leave / The sound of distant drums."

- -- 
Clive D.W. Feather                       | Home: <clive@davros.org>
Tel: +44 20 8495 6138 (work)             | Web:  <http://www.davros.org>
Fax: +44 870 051 9937                    | Work: <clive@demon.net>
Please reply to the Reply-To address, which is:  <clive@davros.org>

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