Has he got a point? Are mortgages a scam? 🏡

He's bang on. Mortgage for many has become a life sentence.

These arguments always forget that rent is the same cost or more than a mortgage payment. You may as well own it at least you have something at end

Mortgages scam yes..there’s good housing association private and councils who if you are lucky and willingly to move from the big city—you can get decent size houses and a champion garden better than new builds Dnt go in debt for New-builds lol

I know this guy. Proper sound but this is one take I heavily disagree with

Where do you know him from? What does he do?

He was an MMA fighter CJ Meeks. Sparred with him a few times. Very good guy has a lot of life lessons but he’s never been the most financially sound person

Would your rather pay £1,500 rent a month for 25 yrs with zip to show for it or pay the same for a mortgage and have full ownership of an asset at the end?

Then you get to 65-70, can’t graft any more, can’t afford your rent and then you’re screwed, or if you’re lucky, placed in some dump housing estate. Yes, a small % will use the house money to grow a business, but the vast won’t and will be left wi the their dick their hands

My mortgage is significantly less than a grand. So i disagree with him. Go freehold, forget these go between housing associations who finesse you.

Everyone’s goals in life a different. But I think he’s barking at the wrong tree here. Whether it’s mortgage or rent, you’re still paying £x per month. At least with a mortgage at the end of the term, you’ll have the equity, which can bring you much greater freedom in later life

"Tie yourself to the bank" As opposed to being tied to forever paying a landlord? My mortgage is significantly cheaper than what it would be to rent a house half the size i live in. Sure, there's pros and cons, every time something breaks it's painful. But it'll be worth it.

Pay rent your whole life or a mortgage for 20 years , then if you want a nice retirement you can sell the house and downsize and add to your pension pot, how is this a scam if the mortgage is cheaper than my rent would be?

Your choice. Just carry on renting all of your life paying someone else's mortgage.

Totally disagree if their rent it 2k a month their mortgage will probably be less than £1500 Also what you gonna do when your 60+ Would you rather be mortgage free Or still paying a landlord

It’s about controlling an asset leveraging the banks money. The problem is people having a lack of financial education.

He’s just said the main reason out loud. “Your rent is what? Two grand a month” Unless you own the house you’ve still got to pay two grand a month (or the inflated equivalent) when you’re 85!!!

If rent you're paying someone else's mortgage off for them. No thanks.

Not really, its a choice. The dream being sold is what needs to be questioned. Blaming others for not doing that is the problem.

It’s security, no one can tell you to leave because they want to sell up. you can downsize (it you have upgraded over the years) & have some money in the bank to enjoy the rest of your lives. I hate debt but if it’s going to be mine in the end 🤷‍♀️ I have it to leave to my child.

6 months away from ending a 25 yr mortgage. Never swapped houses, never swapped mortgage. Been a very happy time. I never paid more in to finish it early. I remortgaged for improvements and holidays and cars. It’s been great & IDNGAF about you moany fkrs. Stay poor

Rent is generally higher and a mortgage though and you have nothing at the end of it.

Yep, but renting isn’t better

He prefers to be a slave to his landlord🤣🤣

Everything is a scam at the nucleus

If I was this twat, I'd save money and sort my fuckin teeth out.

Buying the house you live in is the best thing you can do. House prices always go up over time, they used to say the same in the 90s that house can’t just keep going up but they did.

That’s my area😀

I rent and own stocks 😉

No. He’s a retard.

Absolutely spot on. private rental is even worse. we need 2 major things to happen. Give private renters the right to buy & a mass social house building program so the working class majority can rent from councils/housing associations instead of private parasite landlords.

Every thing the west gives you theybtaken10 times back, ITS A SCAM

Not a scam, but a huge risk.

You will own nothing and be happy

100%

He has a point is a house in Bexleyheath going to become 800k in 10 years its not

Where you living mate? Last time I checked rents go up and up