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Relocating, not much equity
31SF
Posts: 1 Newbie
Hi
I most likely will be moving to take up a new job. Commuting is not an option as it is too far!
I had my flat valued at approximately £82,950 and I owe £74,100 on the mortgage.
So, if I get the asking price I won't have much equity. Also I have some credit card debt of about £6,000 - which I have reduced from £11,000 since 2007!
I really want to take up the new job and am considering getting off the housing ladder completley and renting or selling my current place and looking at shared ownership in the new area (I am an NHS keyworker)
Any tips, suggestions or views
I most likely will be moving to take up a new job. Commuting is not an option as it is too far!
I had my flat valued at approximately £82,950 and I owe £74,100 on the mortgage.
So, if I get the asking price I won't have much equity. Also I have some credit card debt of about £6,000 - which I have reduced from £11,000 since 2007!
I really want to take up the new job and am considering getting off the housing ladder completley and renting or selling my current place and looking at shared ownership in the new area (I am an NHS keyworker)
Any tips, suggestions or views
0
Comments
-
Shared ownership usually requires a large deposit, so have you considered this?
I'd have thought it best to rent for a good while once you've taken up new job & try to save a decent deposit then look to purchase in the normal way & not via shared ownership. There don't seem to be many fans of SO on here if you read through the posts & the costs seem to be very high.The bigger the bargain, the better I feel.
I should mention that there's only one of me, don't confuse me with others of the same name.0
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