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Lots of equity but struggling on affordability
Comments
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Margaretmae wrote: »Due to high childcare costs I can't afford to go back to repayments.
Borrowing more money isn't going to resolve your problems that's a certainty. Overpaying your mortgage by any amount every month will at least start to address the debt. Even if full amounts are not a possibility.
You've 20 years to retirement so with the right attitude should not be an insurmountable problem. Making real sacrifices now is a personal choice. But one which would pay dividends.0 -
Just start overpaying what you can afford now.
In 5 years when affordability improves overpay more and investigate extending term if it is still a problem to clear the debt with the current deal.0
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