Buying as a solo person

[febbabies2023]

Recently split from my partner and we still currently live together

We have a mortgage and the plan is for him to buy me out

There isn't an issue with buying somewhere else as such (I would be eligible for shared ownership) but the monthly mortgage / rent costs are SO high. £1400 seems a little bit tight each month for a solo owner.

If anyone here has done it, how? Or what did you do to lower the payments or just make it easier to afford.

I also have two kids - one starting school this year and one in full time nursery so there's a lot of cost there in terms of childcare

Any advice would be appreciated

That seems too much for you to take on. Could you look at buying somewhere in full but with an interest only mortgage for now or somewhere cheaper with a repayment mortgage?

Shared ownership does work out expensive and you still have all the upkeep. If you do shared ownership only decorate because you will not recoup that money. And try not to stay too long or staircase as soon as you can.

@user1471538283 I hadn't really thought about an interest only mortgage. Maybe I'll look into that!
If I did shared ownership it would hopefully only be a temporary thing - my salary over the next few years will put me above the 80k limit so I know I'd have to be careful!

Yes I'd only decorate anyway, lots of DIY isn't my thing, nor do I get the time between two small children and working full time. At least with new builds they're just ready to move into