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To Move or Not to Move

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    To Move or Not to Move

    got a bit of a dilemma here.
    Wonder if you could help.

    Wife not working - looking after 2.5yr old daughter
    We’re also planning on having another child early-mid next year.
    Contract has 3 weeks to go and after 1.5yrs looks pretty certain they’re won’t be an ext.
    Now here’s the dilemma.

    House is up for sale and we’re looking to get a bigger house.
    We don’t have a mortgage and I’ve got a pretty good war chest.
    Equity on next house will be around 60-70%:

    I’m thinking now is a good time to move because:
    Interest rates are low – can get a 60% of the mortgage @ 1.5% variable and fix the rest.
    We don’t want to move with a new born
    My daughter needs to be in the catchment area for a good primary school. Do they still have catchment areas for primary schools?

    So do we move or stay?
    I know I'm officially still employed and getting a salary through the company.
    However, can I get a mortgage if I don't have a contract?
    Last edited by MrNoMotivation; 27 July 2009, 09:55.

    #2
    Move. You can speculate about the financial ups and downs till the cows come home but you have compelling lifestyle reasons for moving. And once you've finished your contract you can be a full-time negotiator, so you should be able to get a cracking deal on your next house.

    Comment


      #3
      Originally posted by thunderlizard View Post
      Move. You can speculate about the financial ups and downs till the cows come home but you have compelling lifestyle reasons for moving. And once you've finished your contract you can be a full-time negotiator, so you should be able to get a cracking deal on your next house.
      That's what I'm thinking but will banks give me a mortgage if i don't have a contract?
      Going to call ContractorMoney.

      Comment


        #4
        you are at the crossroads of your life mate.


        good luck


        (\__/)
        (>'.'<)
        ("")("") Born to Drink. Forced to Work

        Comment


          #5
          Originally posted by EternalOptimist View Post
          you are at the crossroads of your life mate.


          good luck


          thanks for that. helped me a lot in making my decision. NOT.

          Comment


            #6
            Originally posted by MrNoMotivation View Post
            thanks for that. helped me a lot in making my decision. NOT.

            Ooooh tetchy.

            If you go there will be trouble, and if you stay it will be double.

            Comment


              #7
              Originally posted by MrNoMotivation View Post
              thanks for that. helped me a lot in making my decision. NOT.
              ok, my advice - dont do it.

              forget a mortgage, save up and pay cash, forget the second kid for the moment. With your IT skills, the future is far from rock solid and re-skilling is sometimes a dodgy prospect.


              as I said

              Good luck


              (\__/)
              (>'.'<)
              ("")("") Born to Drink. Forced to Work

              Comment


                #8
                Originally posted by EternalOptimist View Post
                ok, my advice - dont do it.

                forget a mortgage, save up and pay cash, forget the second kid for the moment. With your IT skills, the future is far from rock solid and re-skilling is sometimes a dodgy prospect.


                as I said

                Good luck


                how do you know what my it skills are?

                Comment


                  #9
                  Originally posted by PRC1964 View Post
                  Ooooh tetchy.

                  If you go there will be trouble, and if you stay it will be double.
                  Didn't mean it in a tetchy way.

                  Comment


                    #10
                    Originally posted by MrNoMotivation View Post
                    how do you know what my it skills are?
                    because you outlined them in a previous post



                    (\__/)
                    (>'.'<)
                    ("")("") Born to Drink. Forced to Work

                    Comment

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