short term pain long term gain.

twirlypinky

lincroft1710 wrote: »

31 isn't old these days to be having 1st baby. My mum was 33 when I (1st and only) was born, well over 50 years ago. I've known quite a few women who didn't become mothers until their 30s.

On a practical note, selling the house could easily cost £2K, what's a 2 bed monthly rental compared to the monthly mortgage payment.

I see what you're saying, and yes, it would cost us at least that to move and yes, with rates as they are right now, the monthly rental is more than the monthly mortgage. But, it's interest only so we're really comparing rental on a one bed to rental on a three bed, so you'd expect it to be rather a lot more.

When_is_the_reset?

twirlypinky wrote: »

i don't want him to think i only want him for his sperm.

I am trying to think of something witty to say but I can't.

There must be a joke in there somewhere.

twirlypinky

When_is_the_reset? wrote: »

I am trying to think of something witty to say but I can't.

There must be a joke in there somewhere.

Lol, probably - don't know what though! I love him loads, but we've both been waiting a long time to be this happy in a relationship and i just want to get on with it, not spend two years on pause. We've both had some crap happen to us in the past. i'm just being really impatient i guess.

QTPie

twirlypinky wrote: »

Lol, probably - don't know what though! I love him loads, but we've both been waiting a long time to be this happy in a relationship and i just want to get on with it, not spend two years on pause. We've both had some crap happen to us in the past. i'm just being really impatient i guess.

Hi

(am sitting here nursing a 5 month old as I type on my iPhone...).

Agree with getting on with it, but definitely don't rush or force the issue... Just spent the morning with one of my NCT group and here relationship has fallen apart since the birth of their little boy (and her OH has just lost his job to compound things): so incredibly sad . Having a baby is the toughest thing. It is absolutely amazing, but you need 100% support and commitment from both sides....

Good luck.
QT

Raggs_2

OK 1st off, since it's interest only do you have an endowment or something similar in place to pay it off once the term ends? Or are you overpaying?

Next up, you own 3% of the flat. And without an endowment or payment method at the end of the mortgage (or paying off the capital as well), you will still only own 3% of the flat at the end of the mortgage.

You are basically renting the flat from the bank at the moment, and definitely don't own it. You may do well to explain that to the BF.

Good luck.

twirlypinky

Raggs wrote: »

OK 1st off, since it's interest only do you have an endowment or something similar in place to pay it off once the term ends? Or are you overpaying?

Next up, you own 3% of the flat. And without an endowment or payment method at the end of the mortgage (or paying off the capital as well), you will still only own 3% of the flat at the end of the mortgage.

You are basically renting the flat from the bank at the moment, and definitely don't own it. You may do well to explain that to the BF.

Good luck.

I've explained it to him until I'm blue in the face, i fully understand the full ins and outs of this, and have explained them to him. He however would rather bury his head in the sand, stay where we are and hope that things improve.

It's his house and his mortgage, he did it all before meeting me, the only change is that i moved in. He didn't seem to have a concrete plan to pay off the loan, certainly no endowment. I get the impression that he intended to pay it off when he inherits his half of his parents place, or was hoping to change the mortage to repayment, once he was earning more.

We've agreed now to over pay the mortgage, but i personally would rather jsut move. We could spend the next two years frantically over paying the mortgage to gain some equity, only to lose it if the prices slump further. I would rather cut our losses and sell it now.

kentishdoris

I'm in a very similar situation - I bought a 1 bed flat before meeting my now husband and we've been crammed in for 3 years. We've decided to sell even though we know we're going to lose some money on it. Since we own about 90% now we'll probably walk away with a couple of £k after all the fees, but if we look back at all the money we've spent on home improvements, mortgage interest and management company fees it would definitely have worked out as a lot less to rent.

Life is too short. Buying was the right thing for me to do at the time and we need more space now, not in 3 years time when the property prices may or may not have gone up again. I'm sure we'd have found something else to spend the money on if we hadn't spent it on the flat. Holidays, beer, chocolate...

Now we're going to rent until we're absolutely certain that we've found somewhere we want to live for the next 30 years. As for a baby, my husband thinks we need to buy our dream house before they come along, but as I said to him they don't cost anything to make and can sleep in a chest of drawers for the first 6 months if needed. I suspect my biological clock is stronger than the housing market!

Thrugelmir

twirlypinky wrote: »

We've agreed now to over pay the mortgage, but i personally would rather jsut move. We could spend the next two years frantically over paying the mortgage to gain some equity, only to lose it if the prices slump further. I would rather cut our losses and sell it now.

Renting a larger property at higher cost isn't going to help you either. Paying down the mortgage significantly will make a difference. It may not seem like it at the moment.

One bed houses are very popular in my experience. So its unlikely you'll ever have trouble in selling.

poppysarah

You need to have "that chat"

Good luck.