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Wwyd?
FestiveKebab
Posts: 5 Forumite
Hi all
I have been very lucky enough to be mortgage free for a few years now and have been living in my forever home for the past 3. Except my husband and I have now decided to split up.
My dilemma is... do I move from here to somewhere smaller, not as nice and without my beautiful garden to remain mortgage free or do I try my hardest to get the 70k mortgage I will need for me and my children to stay here and have a debt again.
Anyway, advice appreciated. Thanks
I have been very lucky enough to be mortgage free for a few years now and have been living in my forever home for the past 3. Except my husband and I have now decided to split up.
My dilemma is... do I move from here to somewhere smaller, not as nice and without my beautiful garden to remain mortgage free or do I try my hardest to get the 70k mortgage I will need for me and my children to stay here and have a debt again.
Anyway, advice appreciated. Thanks
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Comments
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£70k mortgage and stay put. Your children will thank you for it and you keep your garden.0
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Only you can decide but if I was you I would go for staying where you are if you can afford it.I am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing forumteam@moneysavingexpert.com. All views are my own & not the official line of Money Saving Expert.
Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
"A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
***Fall down seven times,stand up eight*** ~~Japanese proverb. ***Keep plodding*** Out of debt, out of danger. ***Be the difference.***
One debt remaining. Home improvement loan.0 -
How old are the children? How quickly could you pay it back?0
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Mortgage started 2020, aiming to clear 31/12/2029.0
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Definitely try to stay, but your income needs to go up as I note you are receiving credits etc, can you retrain or get a job that will help you stay? Once you have spoken to an IFA you should know more. Sorry you are splitting up, hopefully everything will work out for the best.MFW #185
Mortgage slowly being offset! £86,987 /58,742 virtual balance
Original mortgage free date 2037/ Now Nov 2034 and counting :T
YNAB lover
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Thank you EagerLearner, I've had to take a cut in hours because I was working antisocial hours and now don't have the childcare. I'm going to fill up with overtime but at the moment with the emotional toll of it all too I'm doing the best I can.0
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So sorry about your situation, make sure you are kind to yourself in this difficult time. I guess it would depend on how much another place would cost you, 70k is a good amount regardless of whether it is in the current home or not, but I guess that it may be a better spent 70k in the current house rather than somewhere new?
Best of luck,
Jodles MFW2020 #115 250/3000 J-250
1% challenge- /1525Save 1k in 2020- /3000
Joining in UberFrugalMonthChallenge set up by the Frugalwoods!
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