Remortgage Or Move?????????????

k1mmie

Can somebody advise me please???????????????

Have severe debts and a very large mortgage. My husband is looking to move jobs which is good in one way but not in another. Don't want to go into too many details until I can speak to somebody.

The question is do we move and but cheaper - but the house is not selling currently. Or re-mortgage.

lauren565

My husband and I used to live in London and were drowned in debt. We have moved to Nottinghamshire, such better living and cheaper house prices, excellent jobs.... It was the best thing we ever did. Our only debt is our mortgage.... I would definately recommend it to anyone in that situation. Depending on your equity in your property, you could put down a huge deposit and be much better off. Good luck... Lauren

lauren565

Oh yes I forgot to say, if you cant afford your debts, there is no point remortgaging. They will still be there - just the debts will be secured against your home and if you ever struggle financially again, you could lose your home. Personally I wouldnt do that. It would be too much worry. Just move. It will sell especially now its summertime. Good luck x

homer_j_3

If you cannot go into the specifics of your financials, we cannot tell you what the best options are but in my eyes.

Lauren does talk a lot of sense and I would ask you to look very closely for any patterns in your financial history - buying things you cannot really afford, getting to breaking point financially - consolidating - feel rich again because of the savings made, buy more stuff you cannot afford - consolidate again etc.

I wont or cannot tell you what the best option is but you need to consider maybe trying to get rid of your debt and starting again or getting rid of the huge mortgage until you can repay the unsecured debt