The Never Ending Mortgages...

I came across a new type of mortgage today. "The never ending" or "Perpetual" mortgages. Basically you can just pay interest payments on your mortgage. There is no need to worry about paying off your mortgage because you can leave both your house and your mortgage to your kids!

View: Never Ending Mortgages

This way you don't have to pay any inheritence tax and you can get away with the lowest monthly repayments at least in the short term. Of course a specialist will make the obvious point of how you will end up paying much more interest in the long term, but it has a certain attraction if you were to hold a belief rampant inflation in the UK will reduce the real value of future mortgage payments.

Off topic it remind me of some Tibetan Buddhist's who believe in reincarnation so strongly that they will lend money to be paid back in a future incarnation. The only downside of this is that you can get people coming up to you to say, o by the way do you remember in 1750 when I lent you £50? well now with inflation I guess you owe me about £5000.

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