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Shared ownership? Or other suggestions..
LadyPenelope333
Posts: 1 Newbie
Hi there,
I'm having trouble finding any financial advice so thought I'd actually write a message on here rather than just using the Amazon tool to buy cheap shoes!
I split up with my husband last year and the house we own together will soon be going on the market. I stand to make up to 120K which is brilliant. However, it's not enough for me to buy even a tiny flat in Cambridge and I'm not sure whether I'm eligible for the shared ownership scheme because I have too much money.
Also, there's the matter of proving that I can pay rent on the part I don't own. I'm currently paying £800/month rent fairly easily but it's a friend's house so I don't need to prove earnings. I only earn £160 a week because I'm studying and working part time. I get £400 maintenance plus tax credits but when I recently tried to move to a different rented property through an agency, they said I would need a guarantor or to pay 6 months in advance.
i'm so worried that I'll have to waste all my money on rent and it seems so silly.
If anyone has any advice, not just on shared ownership but just ideas on the best way to invest this money, I'd be most grateful! There's the option of moving to a (lovely) town 15 miles away but I don't want my children to have to move school. Not sure whether it would be feasible to drive them every day.
Penny
I'm having trouble finding any financial advice so thought I'd actually write a message on here rather than just using the Amazon tool to buy cheap shoes!
I split up with my husband last year and the house we own together will soon be going on the market. I stand to make up to 120K which is brilliant. However, it's not enough for me to buy even a tiny flat in Cambridge and I'm not sure whether I'm eligible for the shared ownership scheme because I have too much money.
Also, there's the matter of proving that I can pay rent on the part I don't own. I'm currently paying £800/month rent fairly easily but it's a friend's house so I don't need to prove earnings. I only earn £160 a week because I'm studying and working part time. I get £400 maintenance plus tax credits but when I recently tried to move to a different rented property through an agency, they said I would need a guarantor or to pay 6 months in advance.
i'm so worried that I'll have to waste all my money on rent and it seems so silly.
If anyone has any advice, not just on shared ownership but just ideas on the best way to invest this money, I'd be most grateful! There's the option of moving to a (lovely) town 15 miles away but I don't want my children to have to move school. Not sure whether it would be feasible to drive them every day.
Penny
0
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