This week about £200 would make a difference.
For the immediate future £200k would clear all debts, including mortgage, and leave some " spends"
To future proof us I think I'd need a cool million.
@SatNavSaysStraightOn if you're looking to buy check out the help to buy scheme , we couldn't have afforded to move without it.
Is only available for certain age groups. if one of you is outside of that age, forget it, sadly, but thank you.
@SatNavSaysStraightOn
Have you contacted your local housing association or developer. Many of them develop houses for sale as well as rent.
Often you can buy an initial share of a house and pay rent on the remainder and over time you have the option to convert the rent into a share you own by doing what is called staircasing.
Depending on the scheme you can also get help with the deposit through various help to buy schemes the government run via the homes and communities agency.
Buying a share and renting the other part is actually more expensive overall monthly than a mortgage. We looked at it. The problem for us wasn't getting a mortgage, it was affording to pay for something we actually liked and would not leave me seriously depressed (medically). I have not lived in a town, or even a village since I was a teenager and then only for a short while. My childhood (single figures and early teens) as well as all my adult life expect for 3 years (where I was clinically depressed and close to suicide) have been rurally and I know I can't manage people around me.
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We baled on the house purchase when an option to move to Australia becoming available. I'm now house hunting in Canberra, literally! Mind you we are renting again for the next 3-4 years whilst we are out here, but who is going to turn down a seriously good offer to be paid and sponsored to live in Australia for 3-4 years (all medical cover private, no exclusions, rent paid etc).
All I have to do now is fine a house somewhere I like (rural or semi rural) that is in a sensible commuting distance for my OH. Still working on it but there are plenty of well of people with good houses who need short term tenants for 6 months to occupy their homes. If necessary we'll apply to one of those houses whilst we find something more suitable.
Just been clearing off my final balances on my account since beginning of May ( financial penalties to pay before that for paying of early ). Last payment made on Thursday.
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