Mortgage after BR

Ava8

I'm hoping someone will be able to advise me with my dilemma. My OH and I went BR in June 2010 and discharged in 2011. We have a mortgage of 156k and are wondering what to do as we would like to sell our large house now the kids are away and get something smaller but are confused. Would it be best to sell up now and bank the small profit we get, we reckon 30k profit. We thought of putting it in the bank and saving another 20k so we can have a good deposit. Our mortgage repayments are high at the minute, £1200 a month. We could rent for 450 pm and save hard. We thought about doing this and buying again in 2 years after the 6 years is up but will it be wiser to stay put and mortgage to mortgage rather than rent to mortgage? Difficult question I know but can any one with similar experiences possibly help? Are lenders likely to lend to us again. We should have about 50-60% deposit if we rented for 2 years. We live in Northern Ireland at the minute. Advice welcomed please.

IF

Hiya Ava8, I would ask your question here too -- > The Mortgages & Endowments Board

Best wishes
IF