Myself and my wife bought a little 2 bed flat at the height of the housing boom. We'd just got engaged and thought we'd try to do what we could to get a house where we could at least spend the following 3/4 years, at least until we were lucky enough to have children. We really were stretching it but we managed to get the money together and finally got our mortgage at the beginning of 2007. The house was £160,000 but it's worth nowhere near that now. We, like many couples over the UK and Ireland, had been frightened in to committing to buying a house thinking that prices were running away from us.
Last September we had our first child and we are so happy but we'd love to move to a bigger house. We both earn a combined £50K plus and we currently owe around £140,000 on our house. I'd estimate that it's only worth about £110,000 though. We're trying to overpay and we've saved a few thousand to allow is to do this next month but we really are feeling trapped.
Now, I know we are lucky enough to have a roof over our head and to have pretty secure jobs but we'd love to have another child at some stage and there's no way we could in our current situation.
Anyone else in the same position?