nat172

no i bought my 1st property at 18 a few years later we split and having sold the propertyi also bought this one im currantly in around 6 months ago. totally regret it now but mortgage Co got me hook line and sinker.. im gonna get estate agents in to value i dont want to lose the 6k i just cant help but think if i dont get out now i will be stuck with the rush of other people in the same position trying to sell their homes too.

I am one of those who bought and SOLD in the last 9 months and i really do want to sell...i put 10% down as deposit ...im 23 years old and dont want to be a debt slave rest of my life..BUT i have one problem...i recieved my settlement figure from my mortgage Co ( im on a 2yr tracker) and to end early they want £6000, which means im lucky if i walk away with my 10% deposit..after EA fees etc i may walk away with 8k if im lucky.... i do really want to sell and rent but just cant bring my self to accept and allow them to have 6k of my money the only little gud thing out of this is that in 16 months im out of my 2year deal with them.......what im asking is would you sell now and atleast walk away with 8k instead of 14k or stay til deal ends and sell for prob just the same but saving the 6k? TBH i can now see why so many people feel trapped during time of HPC's and commit suicide....I am so stressed....im 23 years old and cant remember the last time i went out after getting paid and treating myself to some new clothes or a decent holiday like other young people who work all friggin week... I rushed into buying at 18 and i now realise after 5 years it aint great having a big debt around your neck ! ! i just wish other young people would realise this instead of envying me ! !

i cant make my mind up as to if i should sell up or not, i have a mortgage of £71k which isnt alot but as i am single my wage is stretched, i do want to sell and rent (which would be a similar payment each month) i just dont want to stay here to find i will be in neg equity, not at 23 i could live if that happened, i just also dont want rent to find i cant afford get back on the property ladder, i have only been her 6 months and have over 3 IR's already i will possably only clear 13k after EA' fees etc ( my 10%- £7500 deposit is in that also) dont want regret making a mistake.................my head is so up my **** with there IR's and House prices

Being new to the site i dont know most of your currant position and the obvious name to the site may be a abvious clue, are most of you in rent,(if so for what reason?) or are most of you mortgaged up like i am? (thinking of selling up soon, or will try )Lol

hi well i bought in Jan 07 and put down £10,000 if i was to sell next month takin in account sol and EA fees i should walk away with £13,500, BUT if my memory serves me correctly im in a clause with the lending company which could be around the £3k mark so what do i do would youall stick it out for 2years til the clause ends or cut my losses and rent and be patient til the prices come down ??

hi all im new to the site and when some of you mean crash,at what percentage? is it going to be like 1929? or the 80s?

my house is in Nr Wigan lancashire, i only bought this house im in 6 months ago. yes i will put my money in a savings account, lol i know my decision i just wanted to hear its the right one from you guys my family think if i sell now and rent i wont get back on the property ladder. IMO i think in a couple of years maybe 5 yrs i will andit could be the house i want. not a terrace house im settleing for. Thanks again P.S this site is great !!

Thanks guys for your help, will decorate the bathroom and put it on the market, at the moment i want to concentrate on getting qualified then i can earn more, and renting is cheaper for me at the moment,having interest only mortgage is crap and isdead money so i may as well rent someones house thats cheaper, will wait for prices to come down hope they do in the next 3 years.

Thanks guys for your help, will decorate the bathroom and put it on the market, at the moment i want to concentrate on getting qualified then i can earn more, and renting is cheaper for me at the moment,having interest only mortgage is crap and isdead money so i may as well rent someones house thats cheaper, will wait for prices to come down hope they do in the next 3 years.

its only a 2 bed terrace the front bedroom (mine) being massive and the box room being a box room, dont think it would rent tbh, at the mo im payin 436 plus £160 bills/insurance policys etc.then car insurance if i was to rent with my friend i would be payin £300 max all in each month giving me more money to save and with the money from the house i could put in a high interest saving account, i would walk away from the house with £14k ,so i would have a good deposit for when they do drop and also be able to afford go back to uni part time and finish my surveying course off.

hi all, and what a great forum,i registered a while ago and mainly just observed the posts. my problem is at 18 i bought my 1st property in 2002 and have done ok with property until me and my partner split up, now im 23 living alone in my house with a 10% ,4x times my salary in feb when i moved in i was payin 388pm interest only which is dreadful but with debt from my partner meant i couldnt afford repayment,since i been here a few months interest rates have gone up 4 times and im now payin 436pm...( alarm bells start to ring)..im thinking of selling as im struggling to have a life with my increase in payments, my family think i should stick it out but im feeling that i should rent cheaper and save for when a crash or lower prices start wether it be in 8 months or 3 years. my advice is should i go with my gut instinct ( never let me down in the past) and rent and wait( would be renting with a freind and saving alot each month). or hold out and just stay in my own house. baring in mind i have a interest only mortgage and the house im in is what im settleing for as i cant affrod where or what i want atm, im still 23 and could save quite a bit ,i have time on my side so to speak. any advice would be greatly appreciated. thanks Natalie