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Can't afford house any more - what to do with lodger/tenant?
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Are you living in the house now with this “lodger”?Initial mortgage bal £487.5k, current £258k, target £243,750(halfway!)
Mortgage start date first week of July 2019,
Mortgage term 23yrs(end of June 2042🙇🏽♀️),Target is to pay it off in 10years(by 2030🥳).MFW#10 (2022/23 mfw#34)(2021 mfw#47)(2020 mfw#136)
£12K in 2021 #54 (in 2020 #148)
MFiT-T6#27
To save £100K in 48months start 01/07/2020 Achieved 30/05/2023 👯♀️
Am a single mom of 4.Do not wait to buy a property, Buy a property and wait. 🤓0 -
And I've now had an email back from the council:
"Thank you for your email and thank you for the detail explanation.I have seen Tenant1 and accepted duty with him now and we will work with him going forward.Thank you for advising that his eviction date is the Xth of September.Any further information, please do reach out."
So it looks like they have taken a practical look at the whole situation and chosen the path that makes most sense for us all. I'm very relieved 😌
Thank you everyone who weighed in and helped me to mentally prepare for different outcomes!Mortgage | £145,000Unsecured Debt | [strike]£7,000[/strike] £0 Lodgers | |0 -
Not now, no... Since the house was placed under offer I've committed to another country and applied for long term residency here.Sistergold said:Are you living in the house now with this “lodger”?Mortgage | £145,000Unsecured Debt | [strike]£7,000[/strike] £0 Lodgers | |0
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