Redundant pregnant new house...

suckers2008 · 5 January 2009 at 7:24PM

I think my flat would sell for £205K as its had everything done to it and has a lot of potential to do the loft conversion - and yes I know that I codul do it and possibly stay put but do I want to be pregnant when they are doing all the work and the whle place is dusty!
I dont want to rent really cos I dont know if we would get back on the property ladder on just my husbands wage and his credit rating is poor

dmg24 · 5 January 2009 at 7:25PM

I would not rely on what estate agents say. They do have a habit of elaborating on the truth! If you put it on the market for £250K two years ago, it should be marketed at considerably less now, irrespective of what work you have done on it.

Have a read on the threads on MSE, this will give you a more realistic view of the current housing market.

dimbo61 · 5 January 2009 at 7:41PM

Hi suckers2008,
Strange name !
Well to sell your place and buy a house for anything from £195k to £240k is going to cost you the best part of £10,000 to move.
Your husband has a poor credit history and you are out of work and pregnant !
So all plain sailing at the moment.
If you have the money to move you also have other setting up home costs ( new carpets,curtains, sky etc )
As you also have a reasonable amount of equity in your flat and planning permission to extend I would do this and not move.
What would your flat be worth with 2 bedrooms and and extra bathroom ?
and how much would it cost ?
Now is not a good time for you to sell and move !

silvercar · 5 January 2009 at 8:17PM

Has the redundnacy already happened? If not you could appeal against it or enter into protracted negotiations. Making people redundant means companies have to follow procedures and if you can delay things long enough to be able to start thinking of maternity leave you could end up with better maternity pay.

Gazella77 · 5 January 2009 at 10:28PM

Helllo,

First of all congratulations! :-)

Ppl are right here, selling and buying involves a lot of hassle, there will be hidden costs and charges (obviously connected with a new mortgage, selling your property, moving and furnishing etc) easily around 10 000.
You've got the plans in hand, I'd say it's worth considering actually doing the extension which will increase the value of your property and give you the necessary space. I understand, there's no way you can cram in 1 bed!

Don't know how far in your pregnancy you are but an ex colleague from my work came to an interview and accepted the job just because she needed the maternity. Then 2 weeks after taking the job she announced she was getting married and needed more holiday, which obviously followed with another announcement about the pregnancy ;-) . Then she worked till she was 8 months pregnant, went on 8 months maternity leave, came back to do statutory 3 months before she left the job.

So it can be done. I did not approve of it but now being a mum I realise that sometimes you need to do what is right for your family and that's it.

beecher · 5 January 2009 at 11:15PM

suckers2008 wrote: »

sorry but we dont want to rent
What I meant about the houses is that althouh they are on for £240 we are hoping to pick one up well under that
OR even have started looking at some places that are on the market for £190K so maybe they will accept around £175 or £180 therefore the mortgage would only be around £130k?

On your other thread you say your household income will be £25k. It is unrealistic to think you'll get a mortgage of £130k on that sort of income. On top of that, if you're factoring in a drop of £10-15k on the asking price of houses you're looking at you can be sure that anyone buying your house will do the same meaning that the mortgage will be even higher.

You might want a house, but that doesn't mean that you'll be able to, so best to look at other options too. Cheaper area or wait til after you've had the baby and are ready to go back to work - little uns don't take up much room so a 1 bed flat shouldn't be too big a deal for a while.

Fliss_M · 6 January 2009 at 10:45AM

firstly congrates.:beer:
secondly am afraid I agree with the others. Extend, wait for the market to pick up and you getting another job. I can understand your problem with space and wanting a house when you have a child, but you have 8 months to go (or so) then nearly a year before your really going to need the crawl space (10 month old myself) so theres time there to at least get another job. I would say thats your key, which in the current climate isnt easy. If you get another job after the birth I would look to moving then. But if your dead set, would it be possible to transport the mortgage you have? That may not require them to look at your finances and say no as you already have the money and you wont be taking more. Plus then the extra you have you could put to those moving costs. What are your savings like? Could they help?
Thirdly, with SMP, if you got another job you wouldnt be entitled to it. Theres is a rule about working 33wks in 66 or something. What it works out as is if you are already working at a company when you find out (already 1 month gone) your entitled to SMP if you stay there, but if you have to leave (like you) you are entitled to Maternity Allowence provided you were pg when you left (even 1 month when you dont know) and had worked there for 3 months already. MA doesnt have the 6 weeks at 90% but it is £118 a week for 39 weeks. Also, I think you would struggle for a job now your pg. I was worried about being made redundent when I was pg and I just felt, short for a job at tesco I probably would find anything.

TotallyBroke · 6 January 2009 at 11:11AM

suckers2008 wrote: »

its a one bed flat and we want a house and we have 2 cats so them AND a baby will be a real squeeze
I really dont think many companies would employ you if you are pregnant!

They cannot turn you down for a job because you are pregnant.

As I said you do not have to tell your employer you are pregnant until (I think) 15 weeks before your due date. So approx 6months.
You will then probably only qualify for Maternity allowance which is now (I think) £120 per week. Also as I said there is no reason why you have to have 9 months off you can go back to work after 2 weeks if you need to. Although I would suggest when baby is 3months old. It'e easier to find childcare when they are 3 months old than newborn.

RobertoMoir · 6 January 2009 at 12:18PM

suckers2008 wrote: »

sorry but we dont want to rent
What I meant about the houses is that althouh they are on for £240 we are hoping to pick one up well under that
OR even have started looking at some places that are on the market for £190K so maybe they will accept around £175 or £180 therefore the mortgage would only be around £130k?

You do realise that a market that allows you to do that as a buyer also will allow others to do that to you when you're selling, right?

If a nice house is on the market for £190k and you think you can go lower, do you think this might impact on the price you'll realise for the flat?

suckers2008 · 6 January 2009 at 12:58PM

Hmm well I wanted to re access my career anyway I am at the top of my game and have been working non stop since I was 16 so I wanted to take a bit of time out so now being pregnant I have realised that I dont want to get a childminder after I have baby I already pay over £1K a month in tax, take my mortgage out, bills then a nanny etc and I woudl be left with not much at all PLUS I would never see my baby! The hours I used to work were around 7.30am til 7pm so it woudl not be fair!

I think I am just going to put the flat on he market and see what we get for it and then decided if we want to buy or proba;y just rent for a year or so until prices have settled even if I only make £30K its better than nothing

Redundant pregnant new house...

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