A little help please

paddyrg

ANDY21 wrote: »

i may have to consider renting

Just so you know, it's not so bad - I've rented for 20-odd years and it has an upside as well as a downside. I can move areas quickly and easily, fixing the boiler is somebody else's job, and I don't worry about negative equity or mortgages! When I married, it was simple to get a bigger place. It is also a much bigger deal to own property in the UK than on the continent, where rental is a lot more usual.

I guess what I'm saying is don't look at everything in purely financial terms, sometimes there are other factors (needing some space, cutting apron strings, etc) which are more important!

Wallhart

OK you need to get your priorities in order. Paying down your debt is first and foremost the most important thing.

I know it's hard letting go of what you have saved but in theory it is not really yours because you owe it to the loan company. Once you get rid of this loan you will feel a massive weight lift off your shoulders. You will then just have to start saving for a deposit again. Otherwise your whole situation could seriously snow ball.

What happens if you get a mortgage and then you have to do some seriously expensive repairs. You then can't afford you loan repayments or worse your mortgage. What happens if you lose your income.

It's a massive decision you really can't take lightly.

Good Luck