Help really Worried we are going to go under!

Seaxwyn

Hi Imcognito (I like the name too!)

I've only had a quick skim so apologies if you've already explained this - but why pay nursery fees? I'd be very tempted to scrap the nursery altogether. And also sell one of the cars.

wannabespendthrift

Hey ImCog,

What about hubby seing about that £60K salaried job and seeing how you'd manage? If there were no call outs you could then get yourself a night job and he'd work days and you'd work nights.

You'd be like ships in the night for a year or two but it is possible and it might just get you through with two wages no childcare bills?

Alternatively have you taken advice on BR? if you have little/no equity in FH it might be something to look into and take professional advice on?

FWIW you need to do something before your two years are up with the remortgage - I can't see your hubby getting approval for a new deal on just his salary. Going BR will affect any possible re-mortgage rates also, assuming the OR didn't make you sell the house.

Good luck.

S

imcognito

wannabespendthrift wrote: »

Hey ImCog,

What about hubby seing about that £60K salaried job and seeing how you'd manage? If there were no call outs you could then get yourself a night job and he'd work days and you'd work nights.

You'd be like ships in the night for a year or two but it is possible and it might just get you through with two wages no childcare bills?

Alternatively have you taken advice on BR? if you have little/no equity in FH it might be something to look into and take professional advice on?

FWIW you need to do something before your two years are up with the remortgage - I can't see your hubby getting approval for a new deal on just his salary. Going BR will affect any possible re-mortgage rates also, assuming the OR didn't make you sell the house.

Good luck.

S

About the mortgage, is there anything we can do now?? I didnt think we could get out of current deal. Not without paying soemthing like £13K

As for him getting on his own, if we do get through next 2 years would they not take into consideration that he has paid for it on his own for last 2.5 years???

Thanks

imcognito

wannabespendthrift wrote: »

Hey ImCog,

What about hubby seing about that £60K salaried job and seeing how you'd manage? If there were no call outs you could then get yourself a night job and he'd work days and you'd work nights.

You'd be like ships in the night for a year or two but it is possible and it might just get you through with two wages no childcare bills?

Alternatively have you taken advice on BR? if you have little/no equity in FH it might be something to look into and take professional advice on?

FWIW you need to do something before your two years are up with the remortgage - I can't see your hubby getting approval for a new deal on just his salary. Going BR will affect any possible re-mortgage rates also, assuming the OR didn't make you sell the house.

Good luck.

S

I think I would struggle to find a job, I am visably pregnant. I know they are not supposed to discriminate but chances of me finding a job now surely are slim? (unlike my belly!!)

imcognito

Seaxwyn wrote: »

Hi Imcognito (I like the name too!)

I've only had a quick skim so apologies if you've already explained this - but why pay nursery fees? I'd be very tempted to scrap the nursery altogether. And also sell one of the cars.

Hiya

The nursery fees are the top up charges that my nursery charges. My DS1 gets the free 2.5 hours a day (government funding) but his nursery sessions are 3.5 hours long. So the difference I am paying is that. They wont let him go for just the free bit.

I am looking at changing nursery, though after doing some reading today would not be able to do until Jan now as his current nursery has received his funding and are unlikely to give the fudning up! I can look at changing then, aslo DH is going to get teh childcare vouchers to save tax. Should help.

I doneed to confirm the above tho but it looks like I cant move him this term.

Merlot

I had the same problem trying to change my sons nursery years ago, they will only give up the funding with a fight. Wait until the term ends then move him and I wouldn't consider putting your other child into nursery unless it is fully government funded. You are not in a position financially to afford the extra cost, in my honest opinion.

You have had some excellent advice on here, and I wish you the best in becoming debt free.

Merlot.x.

imcognito

imcognito wrote: »

About the mortgage, is there anything we can do now?? I didnt think we could get out of current deal. Not without paying soemthing like £13K

As for him getting on his own, if we do get through next 2 years would they not take into consideration that he has paid for it on his own for last 2.5 years???

Thanks

Sorry does anyone know about this?? Its got me thinking there is no point carrying on if they wont let him carry on even if he has been paying it!?

RAS

imcognito wrote: »

Sorry does anyone know about this?? Its got me thinking there is no point carrying on if they wont let him carry on even if he has been paying it!?

Hi

I did not understand the original question, so it may be that others were also confused?

Seaxwyn

I don't know, but you could post this question on the Mortgages board.

Merlot

imcognito wrote: »

Sorry does anyone know about this?? Its got me thinking there is no point carrying on if they wont let him carry on even if he has been paying it!?

if you wanted out of the current mortgage deal, then you would have to repay the redemption penalty.

As regards to a new deal in two years time, it used to be as much as 6 times the salary, but in this climate, it is difficult to say what is going to happen in 2 years time, you could of course use an financial advisor who could do a self cert mortgage, but these are generally more expensive, and at this moment in time the sub prime market is suffering, but who knows what will happen in 2 years time.