I wasn't sure whether this should go in Money Matters or Property, but will start here.
DH and I live in a one bedroom flat that I bought before we met, and we can (currently) easily afford but are a bit cramped in.
We've got it on the market with a view to upgrading to a 2 bedroom with some outside space.
Currently on a 2.49% fixed rate until November of next year and owe circa £150k. In our area to buy a decent 2 bedroom we'd probably be looking at the next mortgage being £300-£350k, more than doubling our (current) monthly payments.
In the current climate, I'm getting nervous, so wiser finance and property bods than I, should we cancel viewings and stick where we are, or take the plunge but be as modest as possible in our ambitions for the next place?
I'm unfortunately not very savvy when it comes to mortgages and interest rates and inflation, so I think really I'm looking for someone to give me the bare facts / best or worst or likely scenarios.
Thanks in advance.