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if you rent forever
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Never work, don't save, own nothing, develop a long-term illness, have many children & claim every benefit you can.
At retiral age you will qualify for Pension Credit & be better off than someone who has saved & planned all their life.
Regards,
N.
im thinking of selling my house currently and renting, i would do it but my hubby is worried incase it all goes pear shaped....
we have both always worked, ive just lost my job of 16 yrs, i still have a business which i started up last yr, but isnt that profitable.
we have 3 children, we get CTC CB and thats it... hubby has diabetes, and active crohns disease...he is in work full time, but he is finding it hard as either has stomach or back problems, and its a fairly manual job.
his work mate who now has 4 kids jacked in his job, with back ache and now sits on his arris all day playing ps3, they have a council house, and the wife regulary facebooks' how much would disneyland cost at xmas......'
this winds me up, we dont claim anything, and my hub is quite ill really, but he is under exteme pressure to go to work with our mortgage (80k) we have other debts, which im in arrears with and pay token payments....
we dont know what to do.... i would sell tomorrow and rent but rent is £800-900 p/m whereas our mortgage is £400....... BUT if he couldnt work oneday, who will pay my mortgage etc????...... we need to move really as its a 2 bed property and have 3 girls sharing a small room.....0 -
Support for Mortage Interest will pay the interest on your mortgage if you are unable to work through no fault of your own. At present there is a waiting period of three months, who knows what will change under the next government.Declutterbug-in-progress.⭐️⭐️⭐️ ⭐️⭐️0
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Never work, don't save, own nothing, develop a long-term illness, have many children & claim every benefit you can.
At retiral age you will qualify for Pension Credit & be better off than someone who has saved & planned all their life.
Regards,
N.
re: develop a long time illness.
you might have a different attitude if you did have a long term illness.
should people be allowed to starve then?0 -
im thinking of selling my house currently and renting, i would do it but my hubby is worried incase it all goes pear shaped....
we have both always worked, ive just lost my job of 16 yrs, i still have a business which i started up last yr, but isnt that profitable.
we have 3 children, we get CTC CB and thats it... hubby has diabetes, and active crohns disease...he is in work full time, but he is finding it hard as either has stomach or back problems, and its a fairly manual job.
his work mate who now has 4 kids jacked in his job, with back ache and now sits on his arris all day playing ps3, they have a council house, and the wife regulary facebooks' how much would disneyland cost at xmas......'
this winds me up, we dont claim anything, and my hub is quite ill really, but he is under exteme pressure to go to work with our mortgage (80k) we have other debts, which im in arrears with and pay token payments....
we dont know what to do.... i would sell tomorrow and rent but rent is £800-900 p/m whereas our mortgage is £400....... BUT if he couldnt work oneday, who will pay my mortgage etc????...... we need to move really as its a 2 bed property and have 3 girls sharing a small room.....
sorry im confused you say you do not claim anything.
whats CTC and CB then?
if you think your husbands work mate is pulling a fast one report him
have you seen his medical records?
what has having a council house got to do with anything are they claiming HB or something?
why are you in debt?
buying stuff you cannot afford?
whats the debt?0 -
It's often bandied about that house prices rise in the long term but my partner read in some financial publication (sorry can't remember where but possibly Money Weekly) about a study of a Dutch house and what it sold for over several hundred years. It just about kept pace with inflation.
That said, obviously it's only one study and even if it's true I would still want to buy if I could easily afford it because tenants have very few rights and in my experience there are more !!!! landlords than good ones.
If tenants had better rights and renting was more regulated (including the amount of rent paid) I would consider renting long term, possibly forever.0 -
ian.bathgate wrote: »sorry im confused you say you do not claim anything.
whats CTC and CB then?
if you think your husbands work mate is pulling a fast one report him
have you seen his medical records?
what has having a council house got to do with anything are they claiming HB or something?
why are you in debt?
buying stuff you cannot afford?
whats the debt?
no weve not seen his reports, but funny his baby was born in dec, and he jacked job in in january, but had been working fine upto that, im sure he really is ill, but when i look at my hubbys crohns, diabetes, and osteo arthritis (im really not making this up, he is only 38, and im very worried for him, and us to be fair).. who dont have some sort of back ache in their life???.. my hubby also has osteo arthritis (side effect of the crohns)...
we are in debt because of buying stuff YEARS ago ie more than 6 yrs ago, before i had our second and 3rd child (i had trouble conceiving many yrs)... so they were kind of unexpected, and going from a full to pat time job left a hole on our pay, i used to have 2 jobs 3 yrs ago, until i resigned that job and now im just self employed with my own business,...0 -
could go on and on here but ill leave it,
if i was you if you havent already i would look on the disability,benefit forum for advice.you might be surprised0 -
hello again, thanks to everyone that has replied.
I understand the implications of buying into a mortgage as regards the extra costs although I haven't factored them into my savings just yet.
the thrust of my question wasnt to abdicate the responsibility of saving, but to ask whether there were realistic other ways to save, in shares or government bonds or similar, that increase beyond inflation, therefore beating an ISA, that could at the end of their term, provide me with a suitable saving to live off. The responsibility of the property isnt what i would like to abdicate, rather the requirement to live in one place all the time, which doesn't bode well for my current employment.
also, I have read Which guide to mortgages but there are questions i can't seem to figure out.
1. if i suddenly can't pay my mortgage or i am required to move, can i sell my stake in the house for cash? presumably if i take a mortgage on a property worth £80,000 with £100,000 of loan after interest (these are not realistic figures) and i pay off £20,000 over a nubmer of years, then I suddenly either need to move to a larger property or smaller property or cannot pay my mortgage...
i can't seem to have spelled out for me exactly what occurs.
it would seem that in this instance the mortgage lender takes the house which it bought outright, maybe 5 years ago, then sells it on to the first possible buyer.
if it then makes a profit because in the 5 years the house has increased its value in general - do i make a profit also?
what if i move because I cant pay, do the circumstances change and do i lose all the money that i sank into paying off the mortgage?
I read of people moving house frequently, presumably you can move house without having paid the entire mortgage off?
Im sorry to ask such a simple question but i am simply trying to find out if there is ascheme wherein i can invest in some property that has options if i am not able to contribute the full mortgage over 40 years, that some of the investment is still available. my main fear being that i will sink a load of money into a mortgage and see it vanish to the point where i might as well have been renting.0 -
well yeah i claim CTC and CB, buts thats because weve kids i wouldnt be getting any benefits if we didnt have kids...
no weve not seen his reports, but funny his baby was born in dec, and he jacked job in in january, but had been working fine upto that, im sure he really is ill, but when i look at my hubbys crohns, diabetes, and osteo arthritis (im really not making this up, he is only 38, and im very worried for him, and us to be fair).. who dont have some sort of back ache in their life???.. my hubby also has osteo arthritis (side effect of the crohns)...
we are in debt because of buying stuff YEARS ago ie more than 6 yrs ago, before i had our second and 3rd child (i had trouble conceiving many yrs)... so they were kind of unexpected, and going from a full to pat time job left a hole on our pay, i used to have 2 jobs 3 yrs ago, until i resigned that job and now im just self employed with my own business,...
Try to stay in your home for as long as you can as it is money in the bank & once off the property ladder it is very difficult to raise the funding to rejoin.
Your mortgage payments could be useful in the future if you need to borrow money to finance an urgent repair at a low interest rate. Most companies will allow a loan offset against your mortgage as long as you have paid it regularly. The mortgage rate will/should be a lot less than an additional emergency loan.
I know that it is a struggle but at the end of the day it will be worth it.
Try to cut down on spending & do not use credit.
I wish you all the best
Regards,
N.
P.S. Can you negociate a better mortgage rate?Never be afraid to take a profit.
Keep breathing. :eek:
Just because I am surrounded by FOOLS does not make me wise. :j0 -
can anyone offer any help with my previous post0
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