Home Ownership - At a complete loss!

T71

We currently have a 3 bed shared ownership property and are wanting to move.  Due to our age, just 50, we can only get a mortgage for around £300k which in our area isn't enough to buy even a 2 bedroom property.  We will have a large deposit of around £90k but even if we downsize to a 2 bedroom, this still would mean mortgage repayments of over £2kpcm.  We will have to move out of the area and leave family behind but don't want to take our daughter out of school as she is settled. We can't buy a mobile property as all the sites are either cash or won't except us as we have an under 18 year old.  We don't want to rent as a 2 bedroom as this will be more than a mortgage payment and don't think we can do another shared ownership as we already have done so before.  We are at a total loss and it seems really unfair that at our age. If we stay here another few years until our daughter can drive, we still won't be able to move even with over £100k equity!  Our joint income is just under £60,000 pa so we don't qualify for any other schemes.  All we want is to be comfortable in our retirement and own a property outright but in Kent, this seems like a very unlikely situation!  Any advise please would be grateful

Exodi

Where in Kent are you looking because I live in Kent and £390k is enough for a 3 bed in a lot of the county.

Are you looking in expensive towns like Sevenoaks or Tunbridge Wells? Could you look a bit outside?

Why do you want to move? How old is your daughter? How dramatic would unsettling her be?