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  • FIRST POST
    • woppo26
    • By woppo26 13th Jan 18, 9:25 AM
    • 49Posts
    • 15Thanks
    woppo26
    Financial help with extension
    • #1
    • 13th Jan 18, 9:25 AM
    Financial help with extension 13th Jan 18 at 9:25 AM
    Happy new year everyone....

    Ok so me and my wife are expecting our 5th child (due April 2018) the problem is that there will be 7 of us in a 3 bedded house (3 boys, 2 girls, me and my wife) we currently have a mortgage and a couple of other hpi and a loan. My credit rating is “fair” and together me and my wife earn around £40k a year. We both have worked out that it would be cheaper to extend our home rather than move.
    The problem is, we can’t afford the extension until our “big loan” is paid off (40 more months) iv worked out the price of the extension to be around £50k as my home is only worth £100k and we have £75k left to pay we haven’t got enough equity to cover the cost.
    What I’m asking is there any help out there to help us financially or do
    I sell my house, and get the council to give me a 4/5 bed house?

    Many thanks in advance
Page 1
    • Grenage
    • By Grenage 13th Jan 18, 9:34 AM
    • 1,353 Posts
    • 1,279 Thanks
    Grenage
    • #2
    • 13th Jan 18, 9:34 AM
    • #2
    • 13th Jan 18, 9:34 AM
    I'm not aware of any such financial aid; to be honest I'd be angry if it existed.

    I'd think very carefully before selling the roof over your head. Double up until you can afford the extension, and don't add to the problem with more children.
    • Grenage
    • By Grenage 13th Jan 18, 10:07 AM
    • 1,353 Posts
    • 1,279 Thanks
    Grenage
    • #3
    • 13th Jan 18, 10:07 AM
    • #3
    • 13th Jan 18, 10:07 AM
    I'm not judging you; I'm simply calling it as I read it. I certainly didn't accuse you of asking for handouts.

    Those cases where people are given large houses are the extreme cases, and far from the norm. It's entirely possible that such schemes exist for assistance, but I have never heard of such.
    • Doozergirl
    • By Doozergirl 13th Jan 18, 11:36 AM
    • 24,219 Posts
    • 67,020 Thanks
    Doozergirl
    • #4
    • 13th Jan 18, 11:36 AM
    • #4
    • 13th Jan 18, 11:36 AM
    An extension isn’t appropriate on such a low value house because it will cost you a lot more than just buying a bigger house!

    You need to move. Buy a bigger house with a bigger mortgage. Speak to a broker and see what you can borrow. Your £25k in equity should be a sufficient deposit.
    Everything that is supposed to be in heaven is already here on earth.
    • SuzieSue
    • By SuzieSue 13th Jan 18, 12:37 PM
    • 3,728 Posts
    • 4,002 Thanks
    SuzieSue
    • #5
    • 13th Jan 18, 12:37 PM
    • #5
    • 13th Jan 18, 12:37 PM
    If you sell your house then the council will say that you have intentionally made yourself homeless and will have no responsibility to house you.

    https://england.shelter.org.uk/housing_advice/homelessness/rules/intentionally_homeless
    Last edited by SuzieSue; 13-01-2018 at 12:40 PM.
    • Warwick Hunt
    • By Warwick Hunt 13th Jan 18, 12:40 PM
    • 858 Posts
    • 417 Thanks
    Warwick Hunt
    • #6
    • 13th Jan 18, 12:40 PM
    • #6
    • 13th Jan 18, 12:40 PM
    If you sell your house then the council will say that you have intentionally made yourself homeless and will have no responsibility to house you.
    Originally posted by SuzieSue
    There’s nothing stopping him applying for a suitable house.
    • SuzieSue
    • By SuzieSue 13th Jan 18, 12:42 PM
    • 3,728 Posts
    • 4,002 Thanks
    SuzieSue
    • #7
    • 13th Jan 18, 12:42 PM
    • #7
    • 13th Jan 18, 12:42 PM
    There’s nothing stopping him applying for a suitable house.
    Originally posted by Warwick Hunt
    Do you mean while he still has his current house? Yes, but he didn't say he wanted to do that.
    • woppo26
    • By woppo26 20th Jan 18, 12:10 AM
    • 49 Posts
    • 15 Thanks
    woppo26
    • #8
    • 20th Jan 18, 12:10 AM
    • #8
    • 20th Jan 18, 12:10 AM
    Do you mean while he still has his current house? Yes, but he didn't say he wanted to do that.
    Originally posted by SuzieSue
    So even though I own my own home, I can still apply to the council to be put on the waiting list for a bigger house??
    • Davesnave
    • By Davesnave 20th Jan 18, 8:06 AM
    • 23,990 Posts
    • 90,203 Thanks
    Davesnave
    • #9
    • 20th Jan 18, 8:06 AM
    • #9
    • 20th Jan 18, 8:06 AM
    So even though I own my own home, I can still apply to the council to be put on the waiting list for a bigger house??
    Originally posted by woppo26
    You can apply, but whether you ever rise to the top of that list is another matter. No one here knows the answer to that one!

    AsSuzieSue says, selling-up and making your family homeless isn't a great option either, as there will be no obligation on the council to house you as a family unit.
    'A society grows great when old men plant trees whose shade they'll never sit in.'
    • Ectophile
    • By Ectophile 20th Jan 18, 10:05 PM
    • 2,893 Posts
    • 1,786 Thanks
    Ectophile
    You can apply to be put on the waiting list. But any priority cases will always be moved above you. By the time you get to the top of the list, the kids will probably have grown up and left home, so you won't need the bigger house anyway.
    If it sticks, force it.
    If it breaks, well it wasn't working right anyway.
    • pmartin86
    • By pmartin86 21st Jan 18, 12:19 AM
    • 477 Posts
    • 259 Thanks
    pmartin86
    A much cheaper option.

    https://www.durex.co.uk/
    • davemorton
    • By davemorton 21st Jan 18, 1:56 AM
    • 25,414 Posts
    • 311,471 Thanks
    davemorton
    A much cheaper option.

    https://www.durex.co.uk/
    Originally posted by pmartin86
    Or
    https://www.johnlewis.com/browse/clearance/electrical-offers/television-offers/_/N-5n2j
    Im a board guide on Pie Making Moneysaving. I'm a volunteer to help the pie production & consumption run smoothly. I can help merge tastes and fillings. Any pies made are mine & are not those of other Moneysavingexperts. Im a board guide not a qualified baker and as such do not make every type of pie. If you spot a quiche or flan please report it.
    • Hoogle
    • By Hoogle 21st Jan 18, 3:54 AM
    • 121 Posts
    • 93 Thanks
    Hoogle
    Extensions are not as easy as just saying it will cost 50k you have to get planning permission first, then once that is done and ok'd dont be surprised if the job starts at 50k and ends up costing more. And are you likely to ever get the money back pointless if your house is worth 100k you put a 50k extension on and your house is still only worth 110k.

    As for social housing 4 and 5 bedroom houses rarely come up so I wouldnt count on that.
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