How easy/hard to change mortgage?

puddles

We bought our house in 2006 at £160k and stupidly borrowed £21k on top so our mortgage was £181k. It's currently at £175k. It's a Fixed Term mortgage at 6.05% that ends early Feb 2013

I've recently been thinking about leaving my job and getting something else in a different area to be near our family as our little boy is 2 and doesn't see them very much.

However, I'm worried that we won't be able to ditch this mortgage and get another due to the little LTV percentage which is doing to be pretty close to 100%, but nowhere near the 70% figures I often see banded about on mortgage comparison websites.

Is my position such that I'm stuck where I am for now? Our savings is minimal, around £1,500 at the moment.

Any help is appreciated - thanks.

CloudCuckooLand

You'd spend £3k just to sell it. Another £2k or more, to buy something else. And need a deposit...I'd say that qualifies as stuck, yes.

Time to cut out the luxuries of life, save hard and set some goals so you can see progress being made.

Visit the more detailed money-saving forums.

puddles

Thanks - kind of expected that, but good to get clarification.