Remortgaging - My story, advice sought

kelie

Well if it has gone down its good news if I am buying it off him, bad if we are just selling outright. Also i'm a bit nervous as I don't want to buy it, then the interest rates go up loads / property prices go down and I have to sell it at a big loss one day.

ailuro2

Can you hear any alarm bells??

Having two thirds 2/3 of yuor income going on your mortgage is not a good ratio.

1/4 to 1/3 is more realistic when you only have one wage to pay all the council tax, birthday presents,food and other such necessities. (New boyfriends beer is not essential ! )

One half of your income would be a maximum, so unless your income goes up and is guaranteed to stay up then it might be better to cut your losses now rather than find yourself in trouble a year from now and trying to sell in a negative equity situation.

Good Luck - and fwiw I'd tell the bf to get off his backside and go find a way to earn his own beer money!

Incisor

kelie wrote: »

... The current boyfriend was in work until January when he lost his job due to not notifying them of a holiday he was going on.

:alarmBellSmileyIconThing:

Incisor

kelie wrote: »

Well if it has gone down its good news if I am buying it off him, bad if we are just selling outright..

It's bad news if you buy it off him and then it goes down further. It's good news if you sell it now and then it goes down further.

kelie

I had an estate agent around today. They said that property in this area has gone down 1.7% since we bought it. and realistically we won't get any higher than 170k for it.

Thing is I don't mind taking it on and waiting for property prices to go up. My argument for keeping it is that if I rent or get somewhere else, for the same price it will be a tiny 2 bedroom place.

echelon_2

Have you looked at a breakdown of your BT calls to see why they're so much? Seems alot.

Also I think it's completely unacceptable that your current boyfriend isn't contributing, and hasn't for 2 months. He obviously now has an easy life and absolutey no incentive to go back to work. I understand its tough cos you can't really just kick him out, but you should explain to him what you've told us on here, and make it clear that you could be in financial trouble if he doesn't start paying for his keep.

You could give him a (fake) ultimatum - if he doesn't start paying rent, he'll have to move out to make way for a lodger who will help with your bills.

Anyway good luck and stick with the house, im sure it'll work out somehow.

kelie

Thank you I think i'm going to need a lot of luck on my side.

I did just give him an ultimatum actually, we just had a massive arguement. I said to him that for the past 6 months it feels as though he has used me for alcohol, food and a place to stay, oh and for my internet connection / online betting. He was angry he had lost £100 (which i have had to pay the betting company as it's in my name on my credit card) and I said to him to look at the bigger picture. I might have lost 10k or more on my house.

He's since left and gone home. We didn't end things on a very good note. He muttered something about getting his mother to pay me back and ending it.

Lovely. Even more stress.

Incisor

kelie wrote: »

Thank you I think i'm going to need a lot of luck on my side.

Yes.

I did just give him an ultimatum actually, we just had a massive arguement. I said to him that for the past 6 months it feels as though he has used me for alcohol, food and a place to stay, oh and for my internet connection / online betting. He was angry he had lost £100 (which i have had to pay the betting company as it's in my name on my credit card) and I said to him to look at the bigger picture. I might have lost 10k or more on my house.

He's since left and gone home.

So, you've had some luck!

We didn't end things on a very good note. He muttered something about getting his mother to pay me back and ending it.

Lovely. Even more stress.

Less stress, I would have thought. No beer or betting bills:j:j:j. If a bloke doesn't realise he should bring home a net benefit after paying for his own beer and betting, he is a long term liability. Rather telling that he muttered about his mother paying you back...

Seriously, he is a luxury, you can afford to do without, with the rest of what you have to face. You now need to take stock of how things stand with the ex BF over the house

belfastgirl23

I agree with incisor, this might just be your good luck

Put it like this, either he's gone for good in which case he was going to go when the money dried up anyway. or he's just acting out and he'll come to his senses and get a job. Either way you win in my book. Well done for standing up to him!

angelavdavis

Kelie,

Sorry to hear about your argument, but I think this stress is nothing compared to the stress you are likely to suffer once he has moved in!

How old is this guy? Why is he expecting his mother to pay his debts? This guy is someone who obviously is very good at making other people feel guilty for him being a waster and then won't take responsibility for his actions - sorry but I think you are better off without him.

Has he a key ? I advise you change the locks and breathe a big sigh of relief.