selling up to start a debt-free life- scary!

MascaraMinx

Prosaic - well done for being brave and facing up to the situation, and making a tough decision. Glad to see things are on the up.

For what it's worth, I am in my early 30's, both parents still alive (in mid 60's), but for reasons I won't go in to here, I will not inherit a penny from either of them. In fact, I am contributing to a life assurance policy for them to ensure funeral costs would be covered. This does not stop me cherishing my childhood, thinking myself lucky to have come from such a loving family, and regarding my mum as my best friend. I'm sure in the future your children will appreciate your decision were in their best possible interests. Good luck!

Prosaic

Thank you. There some very kind people on this board

kaz0705

Hi,

I don't have a mortgage so can't give any advise in that respect but I can give you a bit of background to my childood, if you're worrying about the kids.

When i was 4 or 5 my Dad made a lot of money in property and we moved into our dream family home. It was amazing and we had a pretty awesome time there for a couple of years. Then the recession hit and we lost everything, including the house and lived in a rental accomodation.

I can honestly say that where we lived had no affect on our childhood (mine an my brother and sister). I have fond memories of the house but have just as many- if not more- of our rental house. The 'dream' home was very set back from other neighbours and not, necessarily, very sociable. The rental house was in the middel of a cul de sac with a million other kids roaming around and playing out in the evening.

The only real thing that i can remember is the absolute stress and heartache my parents went through. We were too young to understand what was going on but were well aware that mum was not herself (looking back she was probably on the verge of a nervous breakdown).

One thing that I truly believe is that kids just need happy, healthy parents. You could move to a cave and they'll be fine! We had nothing until I was in my late teens but i honestly can't remember having a terrible childhood because we always spent time together and had fun (or fought! ha!). Money doesn't matter to children.

And personally, i think the mortgage advisor should be reprimanded for such a cavalier attitude. Remember that any bank is trying to meet targets and each cancelled mortgage is a step back in terms of what they want to achieve.

Best of luck, hope it all works out for the best.

Kaz

xxx

richardvc

Some really good posts above, all raising some great points and hopefully reassuring you.

For my 2pennyworth I can only tell you that my favourite memories of my childhood all involve people and experiences and not houses and possessions.

I really can't add any more to the points made by all the posters on here as they are all made sincerely and eloquently.

Good luck and I'm sure that being debt free will somehow open some doors that are currently closed to you.

megan17_2

We're in a similar position, we bought a 1 bed house which we love but planned to sell it in 2007 in time for us having a baby in 2008, the recession hit and the house didnt sell but we've done really well with the space and our now toddler! We have to sell now as our daughter needs her own bedroom as she's no longer a tiny baby. We cant afford a 3 bed and dont wanna move into a 2 bed when we plan to have more children, to be honest, i doubt we can afford a 2 bed. So we're gonna rent, the money we do make will pay off our debt then its time to start saving for a deposit. Hopefully in 2 or 3 years time we can buy again.
My parents dont own a house but they help as with money as much as they can now. My husbands family are the opposite, he's never felt he could ask for help but is always being reminded 'you and your siblings will inherit the house' well i know which i prefer.