What happened to Repayment Mortgages

The other point which i ought to have made, which seniorcitizen mentioned, is that repossession - the madness that struck the country at the height of Maggie’s popularity, when 17% mortgage rates were the norm thanks to her brilliant chancellor shadowing the german mark - does not solve the problem for the debtor. Throwing the keys on the bank manager’s desk - and it was the arrival of banks in the mortgage game that massively increased the repossessions as banks were often handing out money where mutuals would not - was not remotely the absolution many thought for all that happened was the home was sold dirt cheap for someone else to profit from and the remaining debt sold for a fraction to a debt management company.

But what makes me both laugh hysterically and weep tears is the memes that suggest when i was a young man a car instruction manual told you the plugs and points gaps and engine ignition timing while these days they tell you not to drink the battery acid are true in all respects where financial matters are concerned. The BBC website actually has a page that says ‘what will happen if i can’t pay my mortgage’ FFS. As if they have to have it explained to them they are going to be living in a gutter ….

when you say "were convinced" do you mean "you came to that conclusion yourself" or "someone convinced you" which was my situation. I was never convinced they would do the job, and annual review of the shrinkage of the terminal bonus as years went on proved it. Like you I was not in need of the money to repay the debt when it matured almost £10,000 short of the promise