Advice on what to do next?

Fire_Fox

G_M wrote: »

There are 3 options and no one can advise which is best for you:

* increases you income (lodger, evening job, holiday job, internet business, etc)
* reduce your outgoings (this site is packed full of advice)
* sell and rent (will the income from equity cover rent? - unlikely)
* sell and buy (as advised, do serious number crunching on the various costs)
* use a dating site to find a handy new girlfriend who a) moves in and contributes to bills and b) does the DIY

:rotfl: I was thinking this!!

Norfolkbor

Haha - tried finding a girldfriend on the dating sites. No such luck and I'm unlikely to meet someone sitting in my house being unable to go out

I have really reduced my outgoings (smaller car, given up smoking and many other things taken from this site :money:) but it's still not giving me enough to do more than just survive on it seems.

I'm loath to get another job... I work hard as a teacher and need some spare time (he says as he's using his free periods on here )

Fire_Fox

Decent teachers do work hard: many of my relatives are retired teachers, one is currently a deputy head. Lodger or matched betting seems the best ways to increase income without spending a lot of time.

kingstreet

As a matter of interest, have you asked your lender about a customer retention product at a lower rate than your current one, or considered remortgaging for a better deal?

Many lenders offer such products fee-free, so you may be able to cut your costs without moving.

G_M

Fire_Fox wrote: »

:rotfl: I was thinking this!!

You're a handy DIYer aren't you FF?

marin_mayhem

If you are on the lender's follow on rate (after the current deal has expired) is that the best rate to be on?
With certain lenders you might be paying as much as 6% which if you loan is only 2-3 years old might not seem to bad if your initial deal was similar.
You stated your loan and income which on basic multiples are good.
If your valuation gives you a decent LoanTo Value (80% or 75% or lower) then a remortgage might drop your rate considerably.
See a good broker/adviser. They can take you through lenders that will be approriate.
Many remortgage with free valuation and legals. So only cost would be product fee if applicable.

summerholiday

Norfolkbor wrote: »

Haha - tried finding a girldfriend on the dating sites. No such luck and I'm unlikely to meet someone sitting in my house being unable to go out

I have really reduced my outgoings (smaller car, given up smoking and many other things taken from this site :money:) but it's still not giving me enough to do more than just survive on it seems.

I'm loath to get another job... I work hard as a teacher and need some spare time (he says as he's using his free periods on here )

Love it - could be Manchester meets Yorkshire or you could visit trade counters after work Wicks, BQ, Homebase etc instead of winebars. Look for paint splatters on clothes, plimsoles.

Certainly, 5th suggestion of GM and !!!!!! post could solve your predicament.

Norfolkbor

Kingstreet - I asked HSBC and they could not offer me anything that already beat their SVR rate which I'm on now.

Marin - I'm currently on HSBC's SVR 3.97 and I've shopped around for mortgages to see if I can get a better deal, but it's the best by far for my LTV it seems. Obviously unless the rates go up that is.

If I go for the option of buying a cheaper flat with the prices of places i'm looking at my LTV will be 75-80ish and therefore I maybe able to get a cheaper rate.

It just feels like I'm going against everything I've been told - always buy a house and not a flat. My sister owned a Flat and had a lot of problems with the freehold.

Fire_Fox

G_M wrote: »

You're a handy DIYer aren't you FF?

Can't use power tools but can lay a patio single handedly, mixed the sand and cement in a washing up bowl with a trowel. :rotfl: I am however a rubbish girlfriend.

summerholiday wrote: »

Love it - could be Manchester meets Yorkshire or you could visit trade counters after work Wicks, BQ, Homebase etc instead of winebars. Look for paint splatters on clothes, plimsoles.

Certainly, 4th suggestion of GM and !!!!!! post could solve your predicament.

I am not a babysnatcher! And I like wine way too much to give up bars.

Norfolkbor

I'm chuffed to think I'm still a baby. Even if that wasn't directed at me I'll take it. :j