Should i stay or should i go?

epz_2

if you have an income now that lets you pay off you debts then why not stay there and pay off your debts, it will save you the early repayment fee and likely be cheaper than renting elsewhere.

carolt

Why don't you check it out with a mortgage advisor, instead of listening to us lot whine on? Out of interest, are you sure your current figures for what your house would fetch are correct? In many places, house prices have just recently turned, and even if similar places went for around the figure you quoted a couple of months ago, or are asking that now, it doesn't mean they would necessarily sell for that now....

That is, as many on here are fond of saying, you've made nothing (not 24K), until the sale is actually completed.

If what you REALLY wanted was just a view on where house prices were heading (funny how so many threads on this board really just want to ask - is the housing market going to crash? :rolleyes:) check out the top sticky thread on House Price Crash discussion thread, whence all such discussion has been officially relegated, to prevent posters on this board accidentally starting a nationwide housing catastrophe with their gloomy predictions...

princepilot

Decided what i am doing.

Selling up , paying off the mortgage and arrears and pocketing the 24k.

As i have no other debts , that will put me a nice amount into a high interest savings account. Its for sure that properties arent going to keep going up at the rate of the last 5yrs so i cant lose IMO

We are going to private rent for a while no more expensive than now and could possibly get some housing benefit) and save like mad until i got about 50k to put down on a nice big house in a nice area.

Matt

nobblyned

princepilot wrote: »

Decided what i am doing.

Selling up , paying off the mortgage and arrears and pocketing the 24k.

As i have no other debts , that will put me a nice amount into a high interest savings account. Its for sure that properties arent going to keep going up at the rate of the last 5yrs so i cant lose IMO

We are going to private rent for a while no more expensive than now and could possibly get some housing benefit) and save like mad until i got about 50k to put down on a nice big house in a nice area.

Matt

You won't get any housing benefit with 24k in the bank

Notlob

nobblyned wrote: »

You won't get any housing benefit with 24k in the bank

Nor with a £ 800 surplus in income per month.

CB1979 said right at the beginning "I hope this is a joke" how perceptive.

Notlob

princepilot

Notlob wrote: »

Nor with a £ 800 surplus in income per month.

CB1979 said right at the beginning "I hope this is a joke" how perceptive.

Notlob

How is this a joke?

Are you thick?

You know i came on here and posted a few threads and have never met such judgemental, ignorant, unfriendly people in my life.

I wont be back on here again. Not that i need to as i dont have any other debts at all.

Goodbye :money:

nobblyned

princepilot wrote: »

How is this a joke?

Are you thick?

You know i came on here and posted a few threads and have never met such judgemental, ignorant, unfriendly people in my life.

I wont be back on here again. Not that i need to as i dont have any other debts at all.

Goodbye :money:

You abuse people by PM, and then tell us your master plan to save like hell to buy a big house while taking money off the taxpayer.

I don't think you'll be missed around here.

carolt

I was hoping it would all work out well for you, but the point when you talked about pocketing 24K AND claiming housing benefit lost me - either you are really, really ignorant, or criminal.... We'd all love to be able to claim housing benefit whilst earning enough to save £800 a month and have 24K in the bank - but that's not how it works..... I don't pay my taxes so people like you, with far more money/income than me, can claim benefits off the state to which you are not entitled.

moneysavinmonkey

princepilot wrote: »

No , i didnt just pluck them out of the air?!?! I based them on 4 identical properties selling in my street for 90k, 89k, 92k, 88k

Why are people so hostile on here? , Geeez

Matt

I'm sorry if you thought my postwas hostile - it certainly wasn't written with that intention. It was a straight-forward question I thought?

Good luck with selling... you mentioned earlier about redemption penalty.. you should check with your mortgage provider how much that will be, you'll probably need a fair bit of cash to clear the arrears + pay this (or this will come out of your 24k )....

If you are banking on housing benefit best check this out before you make your final decision. I' don't think you would get anything given that you will have substantial savings + a healthy income... I could be wrong as I don't know all your circumstance so best to check!

space_rider

Prince pilot, I couldn`t go back to work after maternity leave because I had a baby who was born with a syndrome and was very ill. Fortunately my mortgage was only £250 a month and with the dss paying the interest after 9 months, I managed to catch up with my arrears. I too lived in a not too decent area. I thought I would never get a mortgage because of my credit problems and stayed there longer than I wanted. I did eventually return to work after 3 years and once I got on my feet I did get a mortgage with Abbey who were sympathetic. I got a decent rate mortgage of 4.9% fixed for 3 years. This was a year ago.