Hi all.
Apologies if this is in the wrong place.
I'm in a bit of a bad spot at the moment financially.
My ex partner left about 1.5 years ago the mother of my child. I mortgaged my house I was the sole person on the mortgage. I get on well with my ex and she is not interested in any money etc from the sale.
My problem is at the time she left we were 50/50 on the bills except the mortgage as I paid that. I moved miles away from my family and I don't have any connections in my current area. Its a quiet village with nothing for a single 30 year old man.
I'm struggling to pay the bills and I'm spiralling into debt and missing payments. I now also pay CSA to my ex.
My fixed rate mortgage ends soon and it's going to shoot up. I cannot earn any more income as I work alot already. I cannot be in bad debt due to my job.
I have been given the option to move in with my best mate we used to rent together. He has also split up with his ex. I have the option of buying her out. She only wants 6k. Or I have the option of paying 6k and living rent free not on the mortgage at his for 2 years. We are best mates, grew up together etc. It's not just a normal friend. My daughter would have her own room etc.
Can anyone offer and advice here at what I should do. I don't want to sell as its an asset and its mine. But I can't remortgage as my credit file is looking bad at the moment. I should make a good bit of money from my sale which i would save and use later in life when I meet someone to buy a new property.
I'm worried I'll pass on this option and in 5 months my mortgage will sky rocket and I'll end up moving back to my mams. Naturally my daughter comes first in all this. I want to be able to do nice things with her but I can't at the moment. At least with my friend I'd have some disposable income.
Thank you