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Old 05-15-2013, 02:20 PM
montecarlo montecarlo is offline
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Join Date: May 2013
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Default Comparison: Standard Mortgage vs Building Society Loan

Hi guys,

guess this is my first finance post having retired from Barclays where I have been working since 1972. I tried to do some personal posts about my occupation and life first, but I didnt find a place to write them down, so I'm doing it here. My name is Warner, I have been working in the field of finance for some decades and I retired last year Though, I am still on a few projects with my former employer, working in a freelancing manner.

To make things short, I have a simple initial question: When comparing the advantageousness of a standard mortgage and a loan obtained from a building society club (or, comparing 2 mortgages/loans having different interest rates) using monte carlo simulation - how would you do this? In other words, I would like to compare the advantageousness via monte carlo modeling of yield curves.

Thanks so far! Cheers, Warner.
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Old 05-23-2013, 01:35 AM
jaydenthomas jaydenthomas is offline
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Default Re: Comparison: Standard Mortgage vs Building Society Loan

Hi Warner .. Hope you are doing great and enjoying your retirement life with your family. Mortgages are secured by real estate you own or any other property which you are going to buy. But the rates may be diminished or increased due to the fluctuations in the real estate industry due to geographical issues, documentation issues, ownership problems etc. The main advantage of mortgages are it is easy to buy your dream home for those who are not having enough money to pay for. There is heavy risk of losing collateral in mortgages and the lender thus has the right to take back your home if you stop paying the mortgage. The main benefits of getting a mortgage are tax benefits and access to cash flow(chances to access to funds when you need the money.) . As i said before, there are least chances for asset depreciation if your property losses value due to the reasons which i have told before.

Lets get into the building society, Building societies are not supposed to run like banks - they are mostly known as non-profit-making bodies, effectively owned by their investors who can vote at annual meetings on whatever matters of the society are put before them. They are supposed to working for long hours like 9 to 5. It will be help the customers to withdraw their money at any time.

If you starts searching for a mortgage broker or any kind of mortgage specialist, you will find tons of authorized and unauthorized brokers in our country. But some guys are still unaware of the wicked and delinquent brokers exists in our area. Some of the websites like Butler Mortgage reviews will be helpful to a great extent to help those who are seeking for mortgages.
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