Go for the financially comfortable option or stretch ourselves for the perfect home?

[Boxiboxi21]

Option A: 315k 3-bed semi, nothing wrong with it, just quite small and surrounded by neighbours in a cul de sac with properties at the back too. We could comfortably afford this even if I lose my job. We would have approx 18k left over in savings.

Option B: offers over 375k, 4-bed large semi, better location and facilities nearby, not overlooked at back, has own suite for family members to stay. This would be our forever home!

My partner and I have a baby on the way and my job may not be hugely secure after my maternity leave early next year. We could afford the 375k now but it would wipe out all our savings on stamp duty and the deposit, and mortgage would be £400 higher a month which would be very tight if I lost my job. Which would you say we should go for?

The part that jumped out at me was your partner, rather than husband. If that’s the case, it makes a huge difference to your next steps. I would not be stepping down from a well Paying job to a lower income. You have no security unless you’re married. So live wherever you can continue to work.

Thanks @hellisemptyandallthedevilsarehere we are engaged and plan to marry once settled.

So in the past when mortgage rates were hitting double digits why didn"t the BOE just lower the base rate? In a "melt-up" in yields mortgage products will be affected across the range, even if they are not "fixed rate" mortgages.

https://salarywise.co.uk/gilts