Recently I have been looking at bankruptcy and trying to work out if it’s actually immoral or not. I mean the idea of running up debt with multiple lenders and then just having it all written off by going bankrupt just seems a little wrong to me. The thing is, sometimes you get to the point where you literally have no other option and after all there’s a reason why bankruptcy laws are in place!

I’m really looking for feedback from my readers, what do you think? Have you ever had to make the decision?

Well you may be wondering why I haven’t blogged for so long, I have a confession… the mortgage finally got the best of me! I decided to take a look at those companies who offer to buy your home from you but allow you continuing living there under a lease agreement. At first I thought this would be the perfect solution but believe me its not!

They want to take a minimum of 14% off the market price and then you’re only on a 6-12 month agreement so after that they can boot you out if they want and from what I have read in forums - this is generally the case. They make their money from selling the properties and therefore if they buy at that much under the market price and then sell it a year later they end up making a pretty little penny.

I don’t have too much to say right now about the mortgage but I will come back to you all soon

Where to start with my new blog? The beginning of course! Why should you buy a house rather than rent?

The first problem most people encounter is why they should buy a house rather than renting. For many the very thought of buying a property and having a mortgage can be so daunting that they simply block it out and continue to rent properties. The simple truth is that paying a mortgage can often work out the same as it’s currently costing you for renting a property! There are of course many things which will determine the cost of your mortgage such as your age, income, deposit and such like so I’m afraid I can’t give any hard and firm answers on which is cheaper for you.

As an example there are currently 2 bedroom flats in my local area which cost £750 a month, if you look online you can a similar property in the same area and then find a mortgage comparison website to get a rough idea of what the monthly mortgage costs would be. For me it wasn’t much more than the £750 rent and that was with a very small deposit! So check it out now and just see if it really will cost you more to buy than paying rent and ultimately paying someone else’s mortgage!

Amy x

Hey readers!

I finally managed to buy myself a domain rather than relying on free redirection websites. I decided that it was about time to move on from blogspot and onto a wordpress blog so that I had more control over my content and add-ons. Fear not though, I will still be writing about my continuing mortgage woes and giving out advice to my readers who are in similar situations.

Unfortunately I’m unable to bring over my old posts and comments, so if you did leave a comment asking for advice on the old blog I’m afraid you’ll have to post it again here!

For any new readers out there who aren’t quite sure on what my blog is about then read my About page to get filled in

Amy x x