Bank Building Society Mortgages.
Credits – Ultimate Currency.
When a new world currency is considered it should be decided by every Bank in the world because when introduced it must be considered the ultimate currency and I believe world credits should be the new world currency to ensure it is never changed again. However, all Bit-coin in circulation should be changed for any new currency introduced so people trading in bitcoin do not lose their funds.
Children’s pocket money should be considered several coins five and ten pence for children under seven, and children over seven should have their own bank account funded by their parents via a bank to bank transfer.
Reducible and Interest Only.
When purchasing property ask a Building society to advance funds, based on a fixed term reducible mortgage, which is paid off at the end of a fixed term of twenty-five years providing you do not borrow extra funds from the building society unless it is for extras that increase the property’s value.
Shared ownership is the way forward when purchasing your first home because you start with a small percentage mortgage and a landlord shares the property and charges rent for his share which makes up 100%. for example, you as the mortgagee would own30% and the landlord 70% then gradually over the years you increase your ownership percentage and the landlord reduces his percentage until you finally own 100% of your home.
Bank Interest-only mortgages are smaller monthly payments each month but the funds borrowed are only paid off in full at the end of a fixed-term usually 30 years because the original funds borrowed remain the same for 30 years. However, to pay off a 30-year mortgage may me having to sell your home, sell to a landlord and stay in your home and pay rent or apply for an Equity release loan, providing your home as increased in value because equity released loan is 40% of the value of your home and a mortgage would be discharged with the equity release funds. however, most people purchase several homes during their life-time and each time you can have a new 30-year mortgage interest payments only or reducible.
Originally from the 1950s people saved for a deposit with a building society for their first home and after 3 years applied for either a reducible mortgage over 25 years or interest payable mortgage with an endowment policy with an insurance company which was to discharge the mortgage after 25 years. However, these days endowment policies would not discharge a mortgage after 25 years because for many years house prices doubled in value every 10 years but now it would take much longer for your home to double in value.
My wife and I purchased and sold 3 homes in Australia and 6 homes in Britain from 1965 to 2008. However, we always achieved a profit because homes doubled in value every 10 years, plus as my employments were low paid, which made it difficult to rear four children to the middle-class standard. Consequently, we always needed to sell our homes to pay off our debt but not our last home it was sold during 2008 because my wife complained of cold feet which caused us to sell our home and rent a home prior to our divorce in 2010.
However, now I am age 84 if I purchased the property I would qualify for a £21,000 mortgage, which was the first morgage we had and the interest would be paid by pensions that compliment housing benefits allowed to reputed tenants. However, I would need to purchase a home and pay cash plus the £21000 mortgage.
Credit and Debit Cards.
Every credit or Debit card should be issued with or without the three-digit code on the back of every card because having no code on the cards means they can only be used by physically using the four-digit pin number which only relates to retail stores throughout Britain and cards with the three-digit code is for internet users based on knowing the code can be an option for all new credit and debit cards.
Furthermore, when funding your Paypal account before you purchased a product, a debit or credit card should not be necessary because Paypal prefunded accounts are for their customer to have full control of every purchase.
People who purchased their council home at a discount could not afford to mortgage a home in the normal way so many council house owners would be pleased if their local council bought back their council house, instead of having their council home repossessed because then the local council would not have the problem of rehousing them because after purchasing their council home allow then to remain as rent-paying tenants.
Interest Rates Worldwide.
When my words are recognized as the way forward perhaps you all will appreciate my lifetime practical experience without achieving a university education. However, interest rates should be based on 2% savings and 4% property values yearly increase, then homeowners would see property value double in value every 25 years.
This also means if Banks and building societies paid 2% interest after 20% tax and ISA’s were paid 2% income tax paid, the property would be the ideal investment for wealthy people.
Equity Release Finance.
My expertise in arranging a mortgage dies not to include Equity release funding but I know how it works and why it is necessary because when people retire they only receive their original mortgage payments as a housing benefit so they either sell their home and purchase a less expensive home or seek equity release funding. My friends believe it would be too private to discuss equity finance with me but I am well aware how easy it is to increase your mortgage because although I could not take advantage of equity finance I was obliged to sell my home and seek alternative finance funding, which I did in a somp[le straight forward way because a friend introduced me to a shared ownership scheme which solved my housing problem.
Nationwide Building Society.
Having been a customer of the nationwide building society for many years I always fund my account via a Bank to a Bank transfer, which is paid in instantly without the need for a Debit or Credit card.
Having visited Saudi Arabia several times in the past, my flight over the desert was interesting to see homes built at regular intervals with bright Green lawns yo identity future development because sand mixed with peat moss would be the way forward to ensure blocks of land available for sale would enhance the desert with larns preventing desert sand blowing about then surplus sand could be sold off for Block paving which is sealed with silver sand which is already Kilned drie in the hot desert sun.
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