anyone on their own with kids and a huge mortgage?

happydays_70

I have read lots of threads about people wanting to b MF. Me too..except I am a long long way off it.
I am on my own with two kids aged 11 and 8. I work full time.
My mortgage is £192,737 over 27 years. Gulp! I am 42 now.
I know I can chip away at it. It is on the market too...tempted to downsize but not heard anything yet.
Is there anyone else out there in a similar position??

MallyGirl

I am not in the same boat but didn't want you to have no responses - my numbers are similar tho'.
I am 46 with a DD of 11 (going on 20!), but do have DH who earns a fair bit more than me which makes a big difference.
Good luck on your journey

somethingcorporate

No, but good luck!

I'd suggest looking into a fixed rate mortgage if you have some equity in your house, there are some stonking rates out there at the moment and it may bring some more certainty to your outgoings for the next 5+ years.

sleepygirl126

I am....check out my figures on my signature!!!

Small steps every month and I'm getting there hon

julliff

Hi HappyDays

Yes, I am in the same position as you, although a bit further down the line.
I was terrified when I first remortgaged after my divorce, especially as I am a contractor with no guaranteed work (mind you, permanent employment is no guarantee these days either).

Good luck on your journey, will follow your progress with interest!

Welshlassie

Not strictly on my own as I'm married, but DH looks after the kids and doesn't bring in an income. My kids are 6 and (almost) 3 and our mortgage is £178,500 (and IO). We're slowly chipping at it, but not seeing huge in roads yet and probably won't until DH is in a position to bring in some income, but that's a few years away yet, so we use extra pennies as we find them, selling stuff on ebay and the occasional cake!

Good luck with your journey

happydays_70

Just looking around at houses on the market to see if I can downsize and reduce my mortgage payments.
Made an appointment to view a property on Sunday..they are interested in part exchanging for a larger property so coming to look at mine on Sunday too.
Looked at the figures on the mortgage calculator and if all went well and we bought something like it my mortgage payments would be halved and room to overpay when I wanted.
My other threads are full of my indecision about staying or selling. I think by looking at other properties it will help me to be clearer on what I want to do.
Will defo have a NSD on Saturday...cleaning like mad and tidying for Sunday's viewing

skint_spice

Good luck on making the decision, it sounds like a good idea to make your mind up either way then you can plan.

happydays_70

Had a NSD today..makes up for the spree I had in NXT on Friday..ha.
Got viewing in the morning..not excited but need to dip my toe to shake off this indecision.

vasseur

I'm doing it on my own too Got one dd who is 9.

My mortgage isn't as much as yours (£91k) but I have just sold my house so am increasing it to just over £127k for my next step up the housing ladder.

I hope you manage to come to a decision. I find that lists sometimes work for me - pros & cons - although sometimes if something feels right just take a risk and do it - it would be a boring world if we just played it safe all the time.

I will subscribe and follow you..

kissjenn

Hi,

I've just finished paying off mine. £249k at it's highest.

My son has Aspergers so husband literally walked out of his job as I'd landed a role contracting. He never worked again until I stopped the gravy train when son was seven. So I've brought him up single handed and single incomed. Small Boy is 6' and 20 now. I've also got sole care of a Grandad, 2 kittens and a husky.

You absolutely can do this...it's a long road but lots of lovely peeps here to help every step of the way. You'll find strength and resilience you never knew you had, it's an adventure.

Very best of luck.

KJ