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What a mess :(
loveasale
Posts: 620 Forumite
Hi all!
I need some advice on house / mortgage .
My marriage has ended ,there is only me & my 2 kids (14 & 16) at home, mortgage is still in joint names.
House is worth £150,000-£180,000
Mortgage is £120,000 on interest only
I'm 47 and in part time work (£130 per week)
Do I ?.......
Sell , spilt what equity there is and either rent or buy much smaller / cheaper on repayment?
Stay put and get mortgage in my sole name and on repayment and work like mad to pay as much as I can off whist kids still in education?
Leave mortgage as it . In effect it's like paying rent, only cheaper and in the mean time save as much as poss for when kids out of education and sell then for new chapter ( hat ever that may be! )
Any help?
I need some advice on house / mortgage .
My marriage has ended ,there is only me & my 2 kids (14 & 16) at home, mortgage is still in joint names.
House is worth £150,000-£180,000
Mortgage is £120,000 on interest only
I'm 47 and in part time work (£130 per week)
Do I ?.......
Sell , spilt what equity there is and either rent or buy much smaller / cheaper on repayment?
Stay put and get mortgage in my sole name and on repayment and work like mad to pay as much as I can off whist kids still in education?
Leave mortgage as it . In effect it's like paying rent, only cheaper and in the mean time save as much as poss for when kids out of education and sell then for new chapter ( hat ever that may be! )
Any help?
:money: I will never be rich but I'm happy :rotfl:
0
Comments
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You won't be able to take the current mortgage in your name alone. Affordability will stop that.
You're left with options 1 and 3.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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