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Buying a house on my own

(3 Posts)
JessiePinkman Mon 08-Jun-15 13:47:00

We're in the process of separating & trying to do everything amicably & what is best for the dc.
We have a £97k mortgage on a house worth &550k in a ridiculously expensive area & 2 bedrooms that we don't use.
Original plan was for dh to move out & rent somewhere while I rent out our two rooms to cover the mortgage (I work part time but only earn 1/2 mortgage costs pm)
We thought this best as the kids get to keep their home for the time being (albeit with lodgers!) which we thought would lessen the inevitable blow.
Trouble is even renting a 1 bedroom in a cheaper nearby area is more or the same as our mortgage & dh says its £ down the drain. He wants to sell & us both buy smaller properties. It's fine with me , I don't want to stay here & I like little & cosy (easier to clean, hate gardening) & it seems crazy to live somewhere so expensive.
But...what about the kids, parents split up & lose their home/massive garden which they love in one go??
Also...would I get a mortgage on my own? I don't know anything about this financial side.
I'm so confused as to what's best..dc are going to be devastated anyway, I don't want to make it worse

Snoopdogg12 Fri 12-Jun-15 09:32:16

Can you buy 2 houses outright with the equity on the house? You may have to move to cheaper areas? You can get a mortgage on your own but if you are only p/t may not be as much to stay in your area.

LotusLight Fri 12-Jun-15 15:07:04

Could you move to working full time and then be able to cover the mortgage and not uproot the children from the home they live in? I work/worked full time and was very keen the children did not have to move when we divorced.

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