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MARTINS VIDEO FOR SELF-EMPLOYED * DELAY HOUSE MOVES * EUROSTAR UPDATE
Would you sell your house to pay off your debt
edited 12 May 2009 at 8:10PM in Debt-Free Wannabe
53 replies 41.2K views
Hi everyone, I am in over 30k of debt and have around the same in equity in a flat we hate living in, we are thinking about selling up and starting again but i don't know if it is a knee-jerk reaction to the debt or a good idea - keep changing my mind. We would rent for a while and be able to save for a deposit for the future - another reason we are thinking about doing this is that our mortgage is now on a tracker (0.75% above base rate), so our mortgage is low at the moment but that could change at any time and we would be in trouble as we are just getting by at the moment. We can't change the mortgage on to a fixed rate due to the debt. What would you do? - need some fresh eyes here.