The ironic thing is when we were in the flat we thought about selling and renting as we were so desperate to get out!
We've lived here for 21 years now, the neighbours and the neighbourhood is wonderful. They will have to drag me out of here kicking and screaming.
If we were in that situation, we would have to leave the area which wouldn't be an option for me at the moment.
Doomandgloom, you really need to speak to an IP about your situation so you can discuss all your options. Have a look at the experts section at the side of the page and contact a couple of the experts who post on here.
There will be a solution for you, but you do need to take professional advice, and the longer you put this off, the more you will be worrying.
Good luck, and please keep posting xxx
There are many people who feel secure in their homes right now, but have high interest only mortgages with no equity. For people with only a limited timescale before retirement, I do wonder how they ever are going to repay those mortgages and therefore actually own the property.
I have seen far too many people struggle with financial difficulties due to hang on to a property with negative or little equity, without any thought for how the secured loans will eventually be repaid. I fear that in the next 10 years or so we are going to see far more homes repossessed from people who are now burying their heads in the sand under the illusion of property ownership.
When things settle we'll change to repayment and hopefully start paying off some of the capital.
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