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  • FIRST POST
    • FestiveKebab
    • By FestiveKebab 12th Sep 18, 8:07 PM
    • 5Posts
    • 2Thanks
    FestiveKebab
    Wwyd?
    • #1
    • 12th Sep 18, 8:07 PM
    Wwyd? 12th Sep 18 at 8:07 PM
    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
Page 1
    • worried jim
    • By worried jim 12th Sep 18, 8:08 PM
    • 9,653 Posts
    • 14,865 Thanks
    worried jim
    • #2
    • 12th Sep 18, 8:08 PM
    • #2
    • 12th Sep 18, 8:08 PM
    £70k mortgage and stay put. Your children will thank you for it and you keep your garden.
    "Only two things are infinite-the universe and human stupidity, and I'm not so sure about the universe"
    Albert Einstein
    • beanielou
    • By beanielou 12th Sep 18, 9:29 PM
    • 58,046 Posts
    • 238,956 Thanks
    beanielou
    • #3
    • 12th Sep 18, 9:29 PM
    • #3
    • 12th Sep 18, 9:29 PM
    Only you can decide but if I was you I would go for staying where you are if you can afford it.
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~** **Weight loss 2 stone 12 lbs **

    "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.
    It starts with you, it starts from now. *** It is ok to be me.***
    ***Keep plodding***
    Out of debt, out of danger. MFW 2018. No 144
    • zcrat41
    • By zcrat41 13th Sep 18, 6:21 AM
    • 1,507 Posts
    • 4,150 Thanks
    zcrat41
    • #4
    • 13th Sep 18, 6:21 AM
    • #4
    • 13th Sep 18, 6:21 AM
    How old are the children? How quickly could you pay it back?
    Aim: To o/p the mortgage by £131 pm.
    07/18: £254. Smashed it!
    08/18: £219.31 Smashed it again!
    09/18: £131 Acheived challenge
    10/18 £Target £131 plus £50 into savings
    • MovingForwards
    • By MovingForwards 13th Sep 18, 7:50 AM
    • 422 Posts
    • 507 Thanks
    MovingForwards
    • #5
    • 13th Sep 18, 7:50 AM
    • #5
    • 13th Sep 18, 7:50 AM
    https://forums.moneysavingexpert.com/showthread.php?t=5894240
    • EagerLearner
    • By EagerLearner 13th Sep 18, 7:35 PM
    • 4,945 Posts
    • 7,871 Thanks
    EagerLearner
    • #6
    • 13th Sep 18, 7:35 PM
    • #6
    • 13th Sep 18, 7:35 PM
    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! £88,601.08 /63,528.82 virtual balance
    Original mortgage free date 2037/ Now Nov 2034 and counting
    YNAB lover
    • FestiveKebab
    • By FestiveKebab 14th Sep 18, 7:10 AM
    • 5 Posts
    • 2 Thanks
    FestiveKebab
    • #7
    • 14th Sep 18, 7:10 AM
    • #7
    • 14th Sep 18, 7:10 AM
    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.
    • jodles16
    • By jodles16 14th Sep 18, 10:06 PM
    • 1,369 Posts
    • 4,155 Thanks
    jodles16
    • #8
    • 14th Sep 18, 10:06 PM
    • #8
    • 14th Sep 18, 10:06 PM
    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
    MFW2017 #29 1200.24/4524
    MFiT #66
    Overall aim 10,124.20/21,743 (£156,000)
    2016- Jan-£177,472, Apr-£173,195.04, July- £171,417.47 Oct- 169,366
    2017- Jan- 167,347.80 Apr- July- Oct-

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