I've just been to the Citizens Advice this morning, having recently decided to seperate from DP. We have a joint mortgage and there is still a fair bit of equity (as long as the market doesn't plummet too much). I have a full time job which is about as secure as any job is nowadays (i.e all seems pretty secure but then you never know!) and my salary plus the equity would give me enough to buy a modest house for myself and DD. However, the Advisor suggested that maybe we should consider renting instead, as there are no benefits that will help you with mortgage payments should things go wrong, whereas help is available when renting, plus you can apply for other benefits such as housing that you wouldn't receive as an owner.
I hadn't really considered this as I thought to buy was the most sensible option, given that it means investing in an assett rather than just waving goodbye to your money, but I must admit this has sown a seed of doubt and made me feel very nervous about going it alone.
Does anyone have experience that might help me decide what's the best course of action?
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Renting vs mortgage - is a mortgage on your own asking for trouble?
11 replies
Indiestarr · 11/09/2008 16:49
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