Please note: this is an old post. I have been blogging for a really long time: since my childhood, in fact. Bear in mind that any opinions stated may have changed, any code snippets may no longer be considered safe or secure, and my personal circumstances are almost certainly different to what's contained herein. You have been warned...
My housing status is basically an unstable mess. I have no idea where I will be living in 6 months time, and part of that is because Karl and I own an equal share of this house and one of us will have to buy the other out at some point (or sell up and split the proceeds 50/50 which is my least desired path at the minute).
The problem with this is, of course, is finding the money to go down this route. Because of my earning potential I have a tentative nod from our current mortgage company to increase the mortgage but I am looking at an addition of circa £20,000 – with the obvious side effect that the more I lend, the more my monthly outgoings are going to be (at a time when I need to get them as low as possible).
On the other side of the coin — if Karl buys me out or we need to sell up — I then have to find the money to put down a deposit on a house of my own OR make a significant headway on rent so that I can get settled into somewhere.
Because there’s no guarantee that the house would even sell even if we tried to do that, and because I don’t really WANT to loan an additional £20,000 from the bank, I fear my only option is to
sell a kidney raise as much money as possible in as short a time frame as possible.
My “mortgage free in five years” project is about to become a “raise £15k in as short a time frame as possible” project…!