How to help unemployed single mum onto the housing ladder?

clutton_2

should we start a new thread on HMO's ?

richgirl

People blame BTLers for the boom in house prices, but similarly those fiddling housing benefit to purchase properties are also driving prices higher.

BobProperty

Fran wrote:

.....So the mother would need enough money to pay until mortgage interest payments kick in.

She would still be entitled to full Council Tax Benefit if on Income Support.

The OP talked about £133k house with 10% deposit. The IS pays IO on £100k maximum. There will be £20k of mortgage interest to find out of her IS benefit, which, I put it to the reader, isn't going to happen. Equally, the mortgage payments which have to be found before the IS starts paying is surely not going to be available as a lump sum, except from relatives funding it. The OP can hardly have a lump sum of up to 9 months mortgage payments without it affecting their IS claim.

noabawbee

clutton wrote:

""Haven't people investing in buy-to-let properties priced those on lower incomes out of the housing market?""

You may not believe this, but, i have on three occasions, not bid for a particular house as i knew that first time buyers were wanting it.

I suspect you'll be in a minority of one amongst 'BTLers' or 'developers' then. You can't honestly credit landlords as being the same as those running a small business; there is nothing analogous between the two in the ethical sense, which is what I think you were alluding to. Nothing makes me angrier than seeing on one of these 'tart-up-and-sell-on-at-a-profit' tv shows, people who actually already own (at least) one home (i.e. developers, BTLers, dilettantes) bidding against young couples or families who are desperate to have a home of their own.

Napoleon's observation no longer obtains - we're now a nation of landlords. Roll on decent, socially-sound legislation, properly taxing 2nd or multiple home-owners. Won't be with this PM though - for obvious reasons.

noyk

seven-day-weekend wrote:

I am dreading my house in the Uk being classed as a HMO. It is lived in by our son and two lodgers and the idea is to make it virtually self-funding, as our son cannot afford to live there on his own and we cannot afford to subsidise it. At the moment this is working.

If, however, it is classed as a HMO, then there is no way we will be able to meet the expense of the ridiculous regulations.

What will happen then? Well, we'll have to get rid of the lodgers so that it is no longer a HMO. That's two homeless young men.

Then our son will not be able to afford to live in it on his own, and we won't be able to afford to help him, so he'll apply for a council place where he can get HB.

He won't get anywhere as he is 'adequately housed'. So we will have to chuck him out. That's another homeless young man.

The house is then empty with no-one to look after it, so we'll have to sell it or rent it to a family. (While our son is still homeless)

All we are trying to do is keep our family home, in which our son has a right to live, and enable us to keep it and him to live in it. In the process we give a home to two other single young men.

Nothing wrong with that, surely? But if it's classed as a HIMO, we won't be able to keep it this way.

(Sorry, off topic).

Your life must be hard - i quote your personal message:

Location: On a mountain in southern Spain

Just trying to keep the family home, poor you, what are you living in?

natwill_3

Maybe an unemployed single mum shouldn't be helped on to the property ladder until she can afford it on her own?

BobProperty

noabawbee wrote:

.... Nothing makes me angrier than seeing on one of these 'tart-up-and-sell-on-at-a-profit' tv shows, people who actually already own (at least) one home (i.e. developers, BTLers, dilettantes) bidding against young couples or families who are desperate to have a home of their own....

I don't like these programs because they make it look easy when in most cases the money has been made through the market rising. But can you tell me in which program you know the first category (developers, BTLers, dilettantes) to have pushed out the second(young couples or families who are desperate to have a home of their own)?

noabawbee wrote:

....Roll on decent, socially-sound legislation, properly taxing 2nd or multiple home-owners. ....

Won't happen in most of the 1st world. What exactly were you thinking of, because it won't happen in the real world?

jakehamble

natwill wrote:

Maybe an unemployed single mum shouldn't be helped on to the property ladder until she can afford it on her own?

Why is an unemployed single mum any less deserving of help?

natwill_3

What I am saying is that it might be better to help her get a job first so she can afford a home...working people already find it tough enough to get a first home.

Her rent is £500 and covered by HB, why do you want to saddle her with mortgage payments nearly double that if HB won't cover it?.

Its not even as if now is a great time to buy anyway.....

seven-day-weekend

noyk wrote:

Your life must be hard - i quote your personal message:



Just trying to keep the family home, poor you, what are you living in?

Our holiday home, but we will come back to the UK in the next five years.

Anyway,why should we not have a house in the UK? It is bought and paid for by us with no help from anyone else, we have had it since 1976. Also, it is our son's home; why should he be chucked out?

No-one else paid for our house in Spain, either.