Tim Worstall

1 response so far ↓

• 1 Andrew Duffin // May 5, 2008 at 3:50 pm

  Spot-on about mortgages.

  I got my first one in 1977, and we had to go almost literally cap-in-hand to some sort of intermediary person - can’t remember exactly what he called himself - and grovel suitably for several months.

  Oh, and come up with at least 10% in cash.

  Then he graciously awarded us - yes, you’ve guessed - an endowment mortgage without profits.

  No doubt the whole of the first year’s premiums went straight into his pocket.

  Not an experience I’d like anyone else to have to go through, but it was the norm then.

  These days I don’t have a mortgage at all, and never want another.

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