At aged 68 I still have 7+ yrs left on my mortgage. I have a small amount of arrears and am paying other loans and credit card. On my income I can cover these amounts but have an existence rather than a life. There is the question now of capitalising the arrears but simply cannot afford this. I am seriously thinking of selling my house paying off everything I owe and renting privately in order to give me some peace of mind as paying this mortgage until I am 75 is frightening me. There is equity in my house but not enough to buy even a smaller home. Would this be an advisable course of action or should I struggle on paying off all this money but having no life nor the ability to help any family members with day to day difficulties.?
Equity in private home, mortgage, other debts aged 68
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dereko1969
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You really need to fill out the money makeover form and set out all your debts and payments.
Silvergirl
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Sounds like a great idea to me. Why struggle at this stage of your life and have these worries. Also the maintenance of your home is currently your issue, whereas with a landlord it's their problem if the boiler goes. The important thing is to choose the right type of accommodation to suits your needs. Go for a good standard in a good location, easy to heat and maintain. Most landlords would love a long-term tenant like you. 
I see my mother and father-in-law in a similar situations, they don't have a mortgage but the upkeep, heating and maintenance is really a struggle on houses that no longer suit their needs but that they see as the family home.
I see my mother and father-in-law in a similar situations, they don't have a mortgage but the upkeep, heating and maintenance is really a struggle on houses that no longer suit their needs but that they see as the family home.Thank you for reply. I have filled in SF form for my mortgage provider etc. and their conclusion is that my mortgage is sustainable. As I have said in my first post, my income covers my debts of various types but what I'm wondering is if the prospect of selling is, in principle, a course worth contemplating at this point or struggle on paying down mortgage etc and have more equity in a few years. By then I'll be in my seventies and goodness knows what will befall me in the meantime ! Life is getting shorter by the day and almost all my money is going to the financial institutions. I fully acknowledge that these are my debts.
dereko1969
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