We'd like to remind Forumites to please avoid political debate on the Forum... Read More » This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Moving house with no savings

Cheesy_Fingers · 2012-09-21 07:53:05

Having lived in our house now for 8 years we are looking to move on. Unfortunately, with the downturn in the property market we are left with very little equity in our property but are in a much better financial position (income wise). We are concerned that with no major savings and approximately £5k equity in our property…

Options

Comments

JimmyTheWig Posts: 12,199 Forumite

24 September 2012 at 1:35PM

Catherine_Johnson wrote: »

If you can't save any money at the moment, how do you propose to pay a, presumably, larger mortgage on a new property?

If you're financial position has increased as much as you say you should be saving money each month. Where does it go?

Presumably they spend it because it is there. If they didn't realise the need to save for a deposit for the next house then why wouldn't they spend it?
Doesn't mean that they need to spend it, though.

0

This discussion has been closed.

★ ★ ★ Meet your Ambassadors

Confirm your email address to Create Threads and Reply

MSE News

British Airways passenger? Book and travel using your old Covid vouchers NOW – or lose them
If you had a British Airways (BA) flight or holiday disrupted by the Covid-19 pandemic, check if you've got an old voucher as millions of pounds' worth are still unclaimed. You'll need to use it to travel before the end of September 2025 – or risk losing it. Below we explain how to search for unused vouchers and how to use them.

View All

Moving house with no savings

Comments

Confirm your email address to Create Threads and Reply

🚀 Getting Started

Categories

Is this how you want to be seen?

Get our FREE Weekly email full of deals & guides - and it’s spam-free