I was not aware that I was rolling around in luxury now. I well remember the 15% interest on our endowment policy and when my ex walked out in 1988, I had to sell the house because I could not afford to live and pay the mortgage. I barely had the money to take the tube to work and I had a leaking roof.
As others have stated we are receiving rubbish interest rates and this has been going on for years.
As you will see on the other thread about these Bonds, I have given a warning to anyone who buys them to check their bank statement pdq as instead of thanking £10,000 from us they have taken £20,000 !
I agree about your annoyance as how we 65+ are portrayed. We saved our money by only eating out occasionally, having modest holidays and generally cutting back.
When we married in 1967 our mortgage was 15% too, it took my entire monthly wage. I would like to see some of these whippersnappers live the life we did. I had to be at work at 7.30 am but had to get up to a cold house, I coal fire and no double glazing. I had to shop every day because I could not afford a fridge and I had no washing machine and washed everything by hand. We earned every last penny of that money it was not handed to us on a plate.
Blimey, I must have got a good deal in 1990 with my 14% mortgage!
Oh, hang on - it was an endowment mortgage which was supposed to give me a lump sum at the end of the term but it somehow turned out to be the other way round...
Yes, I saw the little *** from the Taxpayers' Alliance being interviewed on BBC -presumably the same mouthpiece who was mentioned on the thread about bonds.
We were paying 15% interest on our mortgage when he was just a babe in arms.
I am absolutely incensed at the BBC1 News Report on Saturday 17/01/15 at 22.10 on the New Pensioner Bonds for the over 65`s. The Reporter commented that "this was yet another example of the favoured treatment of Pensioners". I immediately complained stating the rather obvious fact that the younger generations gain from the present day low interest on paid out to pensioners on their Life Savings by enjoying the lowest interest rates on record in respect of any Loans or Mortgages they may hold. Whilst the over 65 generation had to put up with record high interest rates on their mortgages. I am so absolutely fed up with the BBC Reporters bleating about how good the Pensioners have it in this country. I think Gransnet should on mass challenge the BBC and demand an apology for this negative and totally in factual reporting!