Get yourselves settled with a mug of coffee 'cos it's gonna be a long one!
Our problem started because we are one of the millions of couples 'lucky' enough to have been conned years ago, into taking out a low cost endowment mortgage that is now not going to repay our mortgage, add to this that we are both retired now and on a limited income.
Rewind about 5 years when we decided that we could not face having a huge mortgage shortfall once we were in our 60s, so we sold our lovely house and moved into a mid terraced new build. This meant we could repay our mortgage, move to this convenient little house and have no further worries. Yeah, right!
Having tried to squeeze all of the stash from our various hobbies into the new house (DH has even more stuff than I do!) we realised that we needed a bigger property, DH is also finding the stairs becoming more of a concern due to his ongoing health problems, so what we really need then is a bungalow.
Now, our part of Hampshire is beautiful and we love it, but it's definitely NOT the bungalow capital of the UK, nor is it renowned for it's reasonably priced housing, so after happily living here for the last thirty odd years we are about to move to Norfolk.
We have spent the last couple of weeks sorting out the house, emptying the loft, packing all our hobbies into boxes and hiring a storage container to put them in. Yesterday we signed with our local estate agents, so our house will be 'on the market' by the weekend, I've booked a week in Norfolk house-hunting for later this month and as soon as we sell and find somewhere to buy, we'll be off.
We're also leaving both our sons here. DH doesn't mind that (I think it's a man thing!) but I do, I'll miss them so much. I'll also miss our town, we've lived here since moving from London nearly 40 years ago when we got married.
So if you don't see me about much you know why and I apologise now to all the people who's blogs I usually visit. I'll keep you up to date with what's happening and my DT posts are scheduled for a while so you'll occasionally see things here.
I look forward to catching up with you all when I get settled, until then take care and wish me luck!
12 comments:
Oh, sweetie! I thought we in the US were the only ones with mortgage woes! I feel your pain, believe me! I also feel your pain about moving. We moved from Arizona 3 years ago. I had been there 30 years, DH 45 years. I miss our friends, but the upside is we are closer to family here. The downside is, I still have boxes in the garage that I haven't unpacked! If I didn't need them during the past 3 years I think the stuff will find its way to ebay! Wishing you best of luck and happy house hunting! A bungalow sounds absolutely cozy! Big hugs!!
It's a brave move you are making Chrissie and I wish you both really well. I hope you find what you are looking for and can settle in quickly and comfortably.
We were badly bitten as well and trying to sort it out has been a total headache. It really makes me cross when I see some of these sharks literally swimming in money.
Look forward to your updates.
Edna x
Mwah, mwah, my darlin'. Sending hugs. xxx
Good luck with your move Chrissie.xxx
oh Chrissie I feel for you - it's gonna be tough. Hope you find something perfect and get a quick sale on your property.
Ann xxx
Chrissie, we were sold endowments and were told that they'd pay off our mortgage and we'd have enough money left over for holidays, other treats etc. Needless to say at the age we were sold our endowments and the fact that we'd only just got together let alone had children, we shouldn't have been sold them. We did put in a claim for compensation - a horrendous journey - but thankfully we got a few thousand back each (as we weren't married when we moved in together shhhhhhh) but it certainly didn't make much of a dent in the deficit we have. It is so upsetting for anyone in this situation.
Well, what a move to make eh. You'll be closer to me - maybe 1-2 hours away so we might get to meet sometime. I wish you all the luck in the world. I can seriously understand the heartache of leaving your sons behind - it must be a mum thing.
Take care my friend. Best wishes, Kym xxx
I wish both of you well in your new move. I hope your house sells quickly and that you can find just the right property to move into.
I had a fight with the bank manager when we got our mortgage. I held out for a cash and interest one - I am sooo glad that I did.
Hope to see you soon
Beryl x
Hope all goes well for you Chrissy and you find your dream bungalow.
Pam x
Oh Chrissie do hope the house hunting goes well.
luv
Debby
I feel for you hunni, we were in the same situation. We were suppose to get money back at the end!!! Yeah of course we did!!! It was mean't to be away of saving for your retirement. Hope your house sells soon and you find something you like. Yes it is a man thing about not worrying about moving from the children. I was begining to worry over you and was going to email as I thought you were poorly.
Hugs
Cathy
xxxx
Chrissie, I know how you feel. We sold up in 2006 and moved to Cyprus so that we could get rid of our mortgage and retire. Sadly it didn't work out. I missed too much in the UK and couldn't cope with the heat in summer. We have been trying to sell our house there for the last 21/2years and in the end when were over here in the UK at Christmas we found a place to rent, flew back to Cyprus, packed up all our possesions, shipped everything back here, leaving our house empty in the hands of Estate Agents in the hope that they will be able to sell it for us soon, It is a big risk but we felt it was the only thing to do.
I hope things work out for you and you find what you are looking for in Norfolk, at least it is not too far from your family and you will soon make new friends.
Anne
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How awful about those flipping endowment mortgages Chrissie.
I wish you every happiness when you move, it will be a fresh start and you'll probably see more of your sons than you do now...it's usually the way when you move out of an area. The move will also help your DH as well especially as stairs are becoming a problem. Good luck and I hope you find exactly what you are looking for in your new home.
Lots of love Sheila xx
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