Feeling in a rut. I have a good job and nice house but don't really like the village I'm in. There is no school so we go to small town 3 miles away and I'd like to move there so we could walk to school or enjoy nights out without having to get a taxi home. A new development is being built in the town. I'd love a new house but the issue is we're caught in the age old money trap. I have my eye on a house which is similar to what I have though new, and slightly better layout. The houses tho are about 10% dearer. They offer house exchange but I know lenders will not lend us more than we are borrowing so we'd have a shortfall especially as we have a lot of debt. New house - £345k. A similar house was sold here for about £299k but that was for a quick sale. Specs of house are similar. Our lenders will give us £265k of which balance is £245k now (flexible mortgage,aging practically no interest). Want to keep this mortgage. We earn £105k per year between us but have about £60k worth of debt. Is this feasible?? What are the pitfalls of doing a house exchange? Part of me would like to sell and rent for a while until we pay off debts and then get something new and similar. But not sure if we'd get such a good deal on our mortgage. I knows you think I'm mad!!!