Babyboomers: £220,000 in debt

Where do care costs come into this equation?

We had a 15% mortgage too, it took my whole monthly salary every month.
All I can say is that some must be taking out a lot more than us, the tax we pay must be keeping the whole of benefit street.

Even with Mortgage Interest Relief at Source (MIRAS), the interest rates when we were young parents were crippling.

My first mortgage was at 12.25%, with half a percentage penalty for having an endowment.

Yes I remember the 15% morgage! and I also remember a bill that used to land on my mat a couple of days before Xmas for something called supertax?
I hasten to add that was when I was a GP. Not nearly as well paid as a civil servant.

I think this must be it.

www.theguardian.com/uk-news/2014/mar/09/baby-boomers-survey-affluence-inequality

J52 I will never forget those crippling times when we were paying a mortgage at 15%. I also think, quite smugly a few years later that I had negotiated one at 7.25%! Today's house buyers would faint.

Which year was it?

I don't have a link. I was reading a Newspaper in a hospital waiting room and the report caught my eye.

Got to go out now but will try to locate report when I return.

Couldn't have said it better myself Galen

What a load of bollocks bullshit nonsense.

Where did you read this Petallus? Can you post a link please?

I wonder how much "baby boomers" would have saved if mortgage interest rates had not been around 15% for years? X

More granny bashing.

I do despair of these sweeping statements that make the newspapers, such as the cost of raising a child being £300,000 or whatever.

Whilst working and paying tax.

Into the coffers of the the country.

Paid into what?