Pensioner says young people need to 'stop whinging' and 'work harder' to pay mortgages
A pensioner said young people need to "stop whinging" and "work harder" to pay their mortgages like people did in the old days.
Brian believes homeowners should knuckle down to get through the current interest-rate hikes. Brian said: "We just did whatever we had to so we could keep paying our mortgage."We worked all the hours God sent - we had to. If you want to keep what you've got, you have to keep working for it. "Especially younger people - just get on with it if you can, you have to to pay the bills. We worked to pay our mortgage because we wanted to.
But in 1979 interest rates soared to a whopping 17% - so the couple had to dig deep. Interest rates had fluctuated between 5 and 10% for most of the 20th century, and Brian thinks they were at 5% before the 17% sky-rocket.He said: "My wages weren't high at all - I think about £14-a-week. Our mortgage might not seem large in comparison to today's figures, but it's important to remember the pound has been devalued since then - it was equivalently high for us.
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