Wanna stay, as per Lydia J

WhatdoIdo_3

I have been posting on another board and Lydia J said it would be a good idea to post my dilema on here.

Ok bit of a long story so if you can bear with me please.

I basically need to move house and sell up. We have virtually no equity in the house (prob in neg equity with the current climate).

My ds who is 4.5 is Autistic with dyspraxia and epilepsy and needs to go to a special school. I have found one in another area but in order to make sure we can get him in their. They prioritise with children in the area.
So we want to move and rent in the area, (short term rent) in case he doesnt get in and we have to move elsewhere.

My question is as we are probably in neg equity and the mortgage company probably wouldnt accept a shortfall, what would you do. Would it be crazy to just walk away. We really need to get him in at this school, as it is an autism specific school.

Thought I would test the water and rang the mortgage company and say we had had an offer below market value, would they accept, after a lot of being passed around and consistent "No's" they finally said they would put would have to paid back within 2 years. We worked out to sell cheaply and quickly, we would be around £20k neg equity so wouldn't be able to pay that back, plus rent on top of this.

In a year when the mortgage goes up, we are on fixed rate at the mo, we are not going to be able to afford it, so may get repossessed anyway. I cannot go out to work due to my circumstances so my situation isnt going to change.

I Have tried to work, to put this into perspective, when I had a job the first 2 weeks I had to leave to get my son from school 4 times to take him to A & E.
I also had a job working from home in the evenings, but as my son is food phobic and it takes ages to get him to eat, bath time, I have to have a bath with him and again takes a long time, bedtime is a stressful time in our house, and wouldnt be fair to leave to my husband. This is not to mention the time for the home work, teaching him to hold pencil, letters, numbers, He is quite severe.

I know everyone says it would be the worst move to make, but really what option do I have and at least on the plus side my ds may get the school that he needs.

Any help or advice would be so appreciated

beanielou

Sorry to hear of your situation.
I cant advise you but I do wish you well.

WhatdoIdo_3

Thanks Beanielou

Snaggles

Could you find a short term tenant for your house, so that your mortgage is covered, and then rent short term in the area you want to move to?

Your mortgage company usually has to give their consent to let the property out, but they might do this if they are fully aware of your circumstances.

WhatdoIdo_3

Thanks but someone else suggested that and unfortunately, the house would need a little work to get to a rentable state. Also couldnt afford to keep putting this right with it if they went wrong.

LydiaJ

Hi again WhatdoIdo.

To everyone else ...
The reason I suggested that WhatdoIdo might like to try posting on here was because people on the House buying, renting & selling board were suggesting things like getting an unsecured loan to cover the negative equity shortfall. I thought if she did do something like that, it would be helpful for her to come here to get help and support for paying it off, and then I thought it might be more helpful still for her to come here now and get your advice beforehand rather than once she's in the middle of it. Besides, I know what a lovely supportive bunch you all are. I hope that was OK for me to suggest she come here as a debt-free-wanna-stay.

The original thread is here, if anyone wants to read it:
http://forums.moneysavingexpert.com/showthread.html?t=1494993

LilacPixie

well to me it seem like you have several issues/problems

Firstly how close to you is the school?? do you have any relatives in that area??

Do you get all the help you can benefits wise for your son?? DLA??

What rate is your mortgage just now and what will it be after the FR ends?? mines is fixed at 5.6% until June but then transfers to 1.79% above bank of england base rate which is currently 1% so my mortgage payment will actually drop. Maybe yours is similar?

boredofbeingathome

Above and beyond all the other advice, i am going to add something else. Have you had a chance to visit and spend time at this school? You will be surprised or maybe not, at the range of services offered and you may even find that you could get better or even your son may not adapt to that school. I know you want a short lease for that reason, but i would seriously take on board professional teaching advice before the move.

Also and sorry if this sounds personal, but you seem really down about it and seem to be set on this route which could put your finances in dire straights..i am the mother of a disabled child ( now a teenager) who was born with quite a few problems and luckily we found a local school who accomodated her needs and we were sorted very quickly.

I have also taught in a school which specialises in the Autistic spectrum needs and there is a large discrepancy in what is and isn't available.
Have you looked at Private options? Local councils will provide grants for these. There is also the transport needs which can be taken into account and paid for by the council if the school is the right one for your child.
Have you had a lot of support in trying to find a school for him?

Sorry i am just chucking questions at you and i am sure you have thought long and hard about all your options. It is just that I would personally hate to see someone struggle when there is already so much on your plate and perhaps thinking around your problem may be a better compromise.

Edit to say Kune kunes advice was spot on in your other thread. Look into absolutely everything and he will get statemented for his needs it may be worth pushing for that.