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Has anyone moved house to clear debts?
PennyLessons
Posts: 17 Forumite
Hello,
Has anyone here moved to a smaller house to release the equity in thier house to clear thier debt? How easy was it? I am currently managing 3 CCJ's and some additional debts totalling approx £30K but I do have £100K equity in the house - does this sound a sensible idea - and do you think I would be able to find a mortgage OK?
Don't know what is the best thing to do - would like some advice.
thanks
Has anyone here moved to a smaller house to release the equity in thier house to clear thier debt? How easy was it? I am currently managing 3 CCJ's and some additional debts totalling approx £30K but I do have £100K equity in the house - does this sound a sensible idea - and do you think I would be able to find a mortgage OK?
Don't know what is the best thing to do - would like some advice.
thanks
0
Comments
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My O/H's sister downsized and changed area to free up equity to put towards her debts.
She is pleased she made that decision as she sleeps better at night and not her debts are all paid up she is starting to save money.
She feels very liberated.
Good luck x0
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