I've been trying to find out. I've googled but mostly it's about remortgaging, equity release and so on.
My situation is that I very gratefully moved into social housing a few years ago from a horrendous privately rented situation. This house is fine and I really am so grateful to have it. However the neighbours and the area are not so fine. One neighbour is perfectly pleasant to talk to but her house is frequently full of her noisy druggie friends, she freely tells me all about it as she says, I'm not judgmental. She also has a lot of pets and her garden is full of dog dirt. She has mental health problems so I do my best to be a good neighbour. On the other side they are also friendly but the garden and communal parking area is full of old cars, bits of cars etc. I usually park on the road as there's no space. They never work on the cars though, they're just dumped. I try to be a good neighbour too, caring for pets when they're away etc.
However I have now come into around £70k from a legacy and would like to move nearer to my daughter to help with the family while she works. I'm very fit and well. I've looked into exchanges but I don't think this would work out any better and there's nothing much in the private rental sector - also I have a dog. So I wondered if, getting a mortgage for say £50k would be possible, I could then get a small terrace nearer my daughter. While good neighbours can't be guaranteed, I would at least have the freedom to grow a tall hedge/fence for privacy which I can't now for example. A do-er upper would be great, my builder son in law could do structural stuff and my daughter and I decorating. I'm also hugely tempted by tiny houses but finding land to site one on is problematic.
As well as state pension I have small work pension and 2 part time jobs which I would be able to continue if I move. After tax, maybe £20k pa. Not first time mortgage, I last had one over 25 years ago with my ex husand.
Can anyone advise please? Thank you.
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