Jenny D

The latest jump in interest rate to 3% means my mortgage going up again - I have a part tracker and part fixed rate which ends next year. I’m still waiting for the letter to tell me exactly how much but this news cements the fact that my only option to keep my head above water, financially is to sell up and downsize to a smaller property. My 2 biggest outgoings by far are my mortgage payment and energy costs. Seeing these rise at an alarming rate this last year is causing me so much anxiety. I’m studying part-time in order to change career and work 3.5 days a week. I can’t fit in any more hours to potentially increase my income. I’m exhausted as it is. What keeps me going is the hope that this situation is just temporary and that once I have gained my qualification, in 2 years time, my earning potential will improve. I had hoped that when I set out on this path, that I would be able to survive financially for the duration of my course but unfortunately I have no choice but to go through the upheaval of moving and making my son leave the only home he has known. I appreciate that, I’m in a more fortunate position than most, due to equity in my home, that I have this option available to me. I’m a hard working single mum just trying to make a better life for me and my boy.