Would you get into more debt for this?

[PinkyU]

We bought our house over a decade ago and have been fortunate to now have a good amount of equity now. We’ve overpaid each month and now have less than 10 years left on our (originally 25 year) mortgage. We are mid-30’s.

However in the 10+ years we’ve been here (with now 3 dc) the local secondary school’s performance has taken a huge nosedive, academically and in terms of behaviour management (serious violent events, frequent police presence, etc) leaving us feeling completely unable and unwilling to send our dc, who are not streetwise in the slightest. One dc would be starting next year.

I want to move house to an area with better schools, but this would mean increasing our mortgage amount and term (to give more of a buffer should interests rates increase/prices fall, the LTV would be around 65%).

DH would rather stay put, not touch the mortgage and instead make placing requests for out of catchment schools. This would be fine if it weren’t for the likelihood of very long, independent commutes for a young 11 year old and, of course, the uncertainty of getting a place.

I think DH thinks I’m being financially irresponsible in stretching us, I think that I’d rather make financial sacrifices for a longer period to ensure access to better/safer schools.

WWYD?

I wouldnt put myself in an uncertain financial position right now.

We're considering something similar. We are likely to clear our mortgage by the time eldest is 18. But we don't have a huge amount of space where we are and would like somewhere a lot bigger which would probably triple our mortgage. I'm very torn because where we are is fine albeit smaller than we would like. But if I was worried about the kids school I wouldn't think twice. My kid's school isn't perfect but I don't have to worry about their safety.

You're young and even if you take on a larger mortgage now you don't have to pay it off as long as you buy sensibly you should be able to downsize later on to clear it.

Sounds like you've got one more move in you. Living in a catchment with poor performing schools is only going to keep a cap on the increase on any house price increases. I'd move to a better area that won't have such a restriction. I can see houses in my town that are half whst they would be if they were in a better catchment.

I’d move to the area with better schools,even if I had to move to a smaller property. I believe it’s your responsibility to give your kids the best education you can

How secure are your jobs in the new climate? If they're secure, and the new mortgage with longer term wouldn't be stretching you (allowing for possible pay cuts of 10-20%), I would move.

You're really young: mortgage free at 45 would be lovely but isn't really necessary. Better to help your children now, when it can make a difference.

But it looks like house prices will be dropping soon, which may affect your calculations. Possibly in your favour, since the price difference will be less, but possibly against you if houses in your current area drop more than where you want to move to.

Potentially you only need to live in the "new" catchment area to get your youngest into the school you would be happy with them you could move areas again or wait until they are late teens and consider downsizing. My real point is that it doesn't have to be forever.

Mid 30s I would move....I don’t think being mortgage free by mid 40s is as a big priority to me as it is ensuring a good education for my children. Most people aren’t even on the property ladder by 30.

Could you rent your house out and rent in a good catchment area? Not ideal but your mortgage should still be getting paid off and will save on stamp duty etc. As long as you can afford to cover rent and mortgage if you lose a tenant, it could be a temporary option.

Surely the whole school can’t be bad

All schools have their misbehaved kids / kids who don’t want to learn / come from bad backgrounds etc

My sis in law done a placement request for her son to attend what is considered the best primary school in our area which both my kids attended and to be honest I couldn’t wait for my son to leave this year .

I firmly believe if your kids are willing to put the work in at school they will be successful where ever they are

I do understand where my oh is coming from, increasing our mortgage payments would mean tightening our belts and bring more mindful of our spending, we’re not especially well off but we can comfortably deal with an emergency, should one arise (boiler replaced, fence damaged etc).

I don’t work currently as our lo is disabled with complex medical needs so doesn’t attend school on a regular basis, DH’s job is very secure. However this does mean that he (in essence) has the sole responsibility of netting the mortgage costs, so that is a factor.

I used to think that academic, well behaved children would do well in any environment but the level of disruption and actual violence leaves me less concerned for my dc academic progress and more concerned for their physical safety and emotional wellbeing. A recent example of the violence at school included a gang fight within the school gates at home time involving knives, bats and heads being stamped on.

Knives, bats and stamping.

I'd move tomorrow and can't believe your husband is hesitating.