We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Redundant pregnant new house...
suckers2008
Posts: 114 Forumite
Hi
I was made redundant last month and have just found out I am pregnant so am looking to put my flat on the market
I am in North London and 4 years ago brought my flat for £180K the flat is in my name and I put it on the market 2 years ago for £250 so I was looking to make some good profit
I am now redundant and pregnant and the estate agents are saying I can get £210K for it!! I have £160K outstanding on my mortgage so I would still make some money on the flat
The houses we are looking at in SE London are on around £240K for a three bedroom big house with garden
The question is this....do I ring and tell my mortgage company what has happened to me even though I still get full pay til March OR do I ring and tell them I am puting mine on and looking to reduce my mortgage costs so therefore looking to buy something for the same amount I am selling for
OR do I find out if I can get my husband on the mortgage
ARGH!! Dont know what to do! I know that I dont want to sell to rent as I got on the property ladder at 23 and worked really hard in refurbishing places in order to buy in a nice area in london with a a big deposit
I was made redundant last month and have just found out I am pregnant so am looking to put my flat on the market
I am in North London and 4 years ago brought my flat for £180K the flat is in my name and I put it on the market 2 years ago for £250 so I was looking to make some good profit
I am now redundant and pregnant and the estate agents are saying I can get £210K for it!! I have £160K outstanding on my mortgage so I would still make some money on the flat
The houses we are looking at in SE London are on around £240K for a three bedroom big house with garden
The question is this....do I ring and tell my mortgage company what has happened to me even though I still get full pay til March OR do I ring and tell them I am puting mine on and looking to reduce my mortgage costs so therefore looking to buy something for the same amount I am selling for
OR do I find out if I can get my husband on the mortgage
ARGH!! Dont know what to do! I know that I dont want to sell to rent as I got on the property ladder at 23 and worked really hard in refurbishing places in order to buy in a nice area in london with a a big deposit
0
Comments
-
Do you NEED to sell ?"An arrogant and self-righteous Guardian reading tvv@t".
!!!!!! is all that about?0 -
I think the first thing you need to do is get a job.
You don't have to legally tell your new employer you are pregnant until 5/6 months (can't remember the exact number of weeks) You will then have the extra money from your redundancy to save until you are off on Maternity and only getting Maternity allowance or if you are lucky and quick you could get SMP from new job.
The only time you are not allowed to work after giving birth is the first 2 weeks so nothing stopping you working up until the day you go into labour and returning at say 3 months after. Especially if it's the dream house that you want.0 -
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!0 -
See if you can sell if so then rent for a while. We are nowhere near the bottom of the house price deflation and who knows where we will all be in a couple of years. Some LL will take cats and right now rents are dropping.Debt free and plan on staying that way!!!!0
-
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?0 -
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?
If your property is on the market for £210K, how much do you realistically think that it will sell for (taking into account that you want a relatively quick sale)?
Is there a reason why you don't want to rent?Gone ... or have I?0 -
You seem to be assuming that anybody you buy from will drop their prices a lot, but anyone that buys from you will be happy to pay near asking price. Very strange.
Flats are also dropping faster than houses.0 -
Hi Hon,
Did you know you were pregnant before they made you redundant and did you tell anyone in management if you did know - if you did I am pretty sure they have to keep you on until you would have returned from mat leave - just a thought - sorry no input on what to do just though this may help.0 -
I am not assuming at all the estate agents have said they would ut it on for £245 as I have re done the whole place and spent about £20 8 months ago ona a complete high standard re furb as well as getting loft extensions plans in place and plannign permission granted to do 2 double bedrooms and bathroom upstairs in the loft
They are sying if they put it on at £210K then that would be the price it would go at
IF ONLY! No unfortuantely I didnt know I was pregant at the time IF ONLY DEAR GOD! I coudl have got paid for a year!0 -
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 wage0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.1K Banking & Borrowing
- 253.6K Reduce Debt & Boost Income
- 454.2K Spending & Discounts
- 245.1K Work, Benefits & Business
- 600.8K Mortgages, Homes & Bills
- 177.5K Life & Family
- 258.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards