paulr

..thier kids, we should have a society where no-one has a mortgage.

1. Assuming kids look after ill parents.
2. Old people dont blow it on "seeing the world".

Great thought isn't it. I'm up for it.

jods

Trouble is - that thieving boss eyed slack mouth tw@t in #10 wants his slice of the estate every time someone karks it.

Fukcer.

madscoob

iTrader: (3)

i personally took great satisfaction from knowing he had SOD all from me when my mum passed but i would still rarther have me mum over a all payed for bungalow

paulr

Including grandparents pass it on asap, then no death duties.

paulr

Of course, but you could leave it to your kids kids. Your kids would need your grandparents to leave them theirs.
A world with no mortgages.

Moley

iTrader: (9)

Could work..... aslong as parents only have one child

madscoob

iTrader: (3)

mine will be split 3 ways so no worries there

fpan

iTrader: (11)

But children would have to live somewhere on their own so they will get a mortgage hopefully before they inherit their parents house.

paulr

I'm just fed up of the whole rat race thing, new this, new that, whats it all for. My sister in law is French. She thinks we are all mad, just too materialistic.

fpan

iTrader: (11)

+1

Lee247

I know what you mean.
I am sick of mortgages and bills. The more I earn, the more I seem to pay out.

Lydia72

I'd rather my parents did that to be honest - adventure before dementia

Clarebabes

My parents are blowing my inheritance with holidays etc. My sister is an accountant, so you can bet I'll be out of pocket when they go

paulr

Clare, totally off topic, whats your Fiat 500 like.

dpb

Anybodyed think you were from the Norfok/lincolnshire borders paul


Reality nobody lives such a uniform existance , and we have inheritence tax in this country


Still we could be in France where properties are divided amongst all the offspring equally leading to buildings which sit delapidated fro 20 years whilst they bicker amongst themselves

J4CKO

iTrader: (1)

Trouble is, death duties aside, there is only one house and usually more than one child, sometimes the house has to be sold to pay for care in old age and god knows how many other factors, most of which cut into a given estate.

It does kind of work like that, in that wealth does get passed on but a lot of the country dont own their own homes, so thats one of the reasons why you tend to get generations in Council houses.

Plus, you tend to be looking for a house in your twenties, if your parents have had kids at a standard age, i.e. between 20 and 40 they are only somewhere between 40 and 60 when you are buying a house, by the time they pass on, hopefully you will be older yourself, perhaps fifty plus and a lot of people have paid, or nearly paid their mortgages off, so the inheritance goes, in a lot of cases on things like cars, holidays and towards pension provision.

paulr

They never seem to decorate either.
I also once read some Germans own more than one house, they just accumulate inherited properties.

Clarebabes

Red, with a white stripe down it

Erm, if you wanna know how good it is, it's brilliant. Only 1.2 one though, the 1.4 is very nippy, but I pay £35 a year car tax. Check gearbox - I had a problem getting into 2nd and it took Fiat over a month to rectify, but had a courtesy car for all that time. Fiat have very good customer service in Northampton

Anything specific you'd like to know?

paulr

Nothing specific, its just you see them everywhere and i wondered what they are like. They look great imo. Brilliant styling.

Clarebabes

Yeah, they are cool Getting a bit common now though.... lol

I love the bluetooth connection which comes as standard, phone automatically connects and all controls are on the steering wheel, as well as being voice activated. Makes me laugh when you see BMWs and Mercs with drivers using their phones.... Can't they afford a hands free kit!!!? My little car has one built in.... It also can play tunes from a memory stick. How cool is that!?

BlkKnight

The trouble is when a person is taken into care. The house (unless in trust) is classed as an asset - The person will have to spend their asset (until they have below 25k+/-) to pay for their care.

paulr

Unless they pass it on before they become ill.

ALi-B

iTrader: (1)

To quote Tom - a good fellow I know of (in his 70's although he looks 50 odd ).

"****-em, I earnt it so I'll bladdy well spend it on meself"

He's a scotsman (from Plymouth ), so he's still got plenty left (tightarse ).

Leslie

Can't say I blame him either.

Les

cookstar

iTrader: (6)

This can and will work for my family, at least for me and my kids anyway, my nan passed away recently, my Father owned her place, so he gifted the property to me and my brother, this property will not be sold. It is on a very long term rental. When our kids are coming up to the age of buying their first place it will be sold and split between them.

There are also a few others tucked away that will be passed along one day, our family do end to hoard houses.