Christine33

we rent a cottage from the council and it is gorgeous. mind you we waited years for it (used to live in a flat). we were thinking of buying not too long ago and i am so glad we never cause of this credit crunch! i personally like renting as i think it can work out cheaper and as someone else said you don't have the same financial ties!

Christine
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psycholisa

We rent our apartment because to buy out here in Spain is almost impossible, the prices are too high and a Spanish mortgage is very hard to get. Also if you are renting and discover a year down the line you don´t like the apartment (or house) or area etc you can easily move to another area or apartment, to move a mortgage would involve much more hassle.

leedsforever

Personally hun I think you should stick with the mortgage... its getting harder and harder to get on the ladder and my friend pays in rent what I pay in mortgage every month!! So we both have the same outgoings but i own mine... well half of it (its 50% shared)!! You could look into that!! Maybe to free some equity from your house!! But yet sometimes that can be more expensive on a monthly basis still!!

Council rent is alot cheaper but you would struggle to get a council house considering you have been a homeowner in the past!!

You also need to consider the 2 and half months rent that some landlords want up front before you move in!! And some are really funny about decorating! And I know you say.... we can save??!!!?? But if your anything like me and what what my friends discuss.... will you?? really?? Especially as your outgoings wont be much different!!

Hope you get something sorted!! Money worries are a drag ey!?!

Farie

We rent, to a extent it is 'dead' money .. you'll never get return on it. BUT it does mean you don't have to worry about running property repairs etc. Our shower broke .. not a problem .. just call the letting agents and they sent someone to have it fixed, ditto when the shower leaked and the sink tried to fall out of the work top.
You need approx 10 weeks rent up front for the deposit, contracts sign you in for either 6 or 12 months and are renewable (for a 'admin' charge)

We love renting, yes we have all the bills on top but its a certain financial freedom not having money tied up in a property.

RachieH

Personally if I were you I would really try and keep your home.
-With the effects of the sub-prime market, if you sold up now there would be no guarentee that in the future that you could A) Get a Mortgage B) Get a house of the same standard for the same price and C) Get a mortgage with as low an interest rate.

I know it can be really hard to keep afloat at times.....but I really don't think that selling up and renting is the answer for you, as you are paying into something that will never be yours. I know its a great solution for some, but I think you would really regret it, especially as you still have all the same bills to pay, including Council Tax and therefore you would not be much better off.

XKatX

I'd definately fight tooth and nail to keep your house hon. If you sell now and the property market crashes, you are left in a really vulnerable market. It would be years at least before you could ever afford to buy again, with a deposit etc. Mortgages are becomming more and more difficult to come by. Try as hard as you can to stick it out. I know it's hard, as I've been there. I'm out the other side now and boy, am I glad I stuck with it!!
Good luck hon, I'm sur you'll make the right decision for you in the end x

ryder

Make sure when your looking at the rest prices, you find out how much all the extras will be, heat, water etc.

Sometimes renting is more expensive.

I know here it is. Our mortgage is $175 per week, plus our h&h for a decent 3 bedroom home... Any rent here starts at $600 plus H&H and they arnt very big or very nice.