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Comments
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That’s really helpful. Thankyou for the suggestion.0
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If you're dipping in to savings every month to get by then it's not the mortgage that's the main issue. As suggested try the Debt board. When the savings run out then you will only get in to more debt each month. Cutting your costs or increasing income are the ways round it but how feasible either of those are is only something you know.Geneygene said:I’ve been trying to save for the last 6 years and the plan was to save to pay the mortgage off. However due to various circumstances here and there, the savings are now being dipped into each month to get by.Remember the saying: if it looks too good to be true it almost certainly is.1 -
Hi Jim, thanks for the message. Yes the issue is my husband has been made redundant 3 times in last 18 months and I’ve been out of work since just before Christmas - that’s why income has been an issue. Things are looking up
on that front fortunately, husband now In stable well
paid job and I’m due to start work
end
this
month. I just wanted to see what options I had if any, for 12 years time so I can start to plan. I’m fortunate that I had savings in the first place to see us through these tough few months.0 -
Overpay now (or once you are able to), thats my suggestion.
Overpaying £50 today will mean paying interest on £50 less tomorrow and the next day...I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.1 -
Geneygene said:I just wanted to see what options I had if any, for 12 years time so I can start to plan. I’m fortunate that I had savings in the first place to see us through these tough few months.... and you deserve credit for facing up to the problem now, far too many arrive here asking questions when they are a few months away from the end of the mortgage, or worse, in the middle of the repossession process.You have time and with luck the resources to figure out a path through this, especially if you engage with the people on the 'Debt' forum here. It is a 'judgement-free' zone, so feel safe to post there.
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Thankyou for the encouraging message. It’s much appreciated.1
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