Help/Ideas required?

positivealternative

Hi firstly I hope I am posting this in the right section and apologise if not. I was just wondering if any other moneysavers can help with the situation my spouse and I are in?

We currently have a mortgage on a property that is our first home that we have been in for nine years. We purchased the property as at the time we were renting and felt it was a better investment to buy. The house is the perfect size for the two of us but is in an area where we have regular noise at night issues, our driveway is regularly blocked and we have suffered occasional damage to our property.We have tolerated the situation over the years but it is not ideal.

To add I recently decided to go self employed as I was earning a very low income and am very fortunate now to be earning three times my previous income. The previous job was affecting me more than the home situation but it was really difficult decision to decide to go self employed rather than move, but feel now it was the best one.

I recently contacted our mortgage lender to see whether it would be possible to move to another property if the property was of no greater value. The current market value of our property is not that high and looking at what else is available I am not sure that the grass would be any greener.I was told that I would need to show books for at leat a year of being self employed.

I really don't know what the best thing is to do. Looking into doing overpayments of £400.00 per month we could have the mortgage paid off in 7 years which seems appealing. The house is very cheap to run but the regular tolerations seem quite a high price to pay.

Any help would be really appreciated as I would like to set up an action plan for how to proceed. Thanks.

sophievenusdoom

It sounds as though it would be more personal choice as to what you decided to do from here. On the one hand you are saying that it is a problem to supply a year's worth of accounts, yet on the other, you are saying that you are considering overpaying so that you can be mortgage free in 7 years. Why not wait til you can supply a year's worth of accounts and go from there?

positivealternative

Hi thanks for the reply. Yes I do agree with what you are saying and really a year is not a great deal of time to wait. I suppose what we need to do as a couple is to keep up the coping strategies that we have in place and just be patient.