Wondering how I'll pay my mortgage

MaggieD

Hi

I am a single mum and have two sons. I currently receive interest payments for my mortgage from the DSS.
I desperately want to get back to work, have completed and passed an Open University course and also had 15 months of voluntary experience in a school.
The problem is, that teaching assistant jobs (which I'm looking to do) are paid minimum wage and unless my bank agree to carry on accepting interest only payments I will not be able to afford the full amount.
Is anyone else in the same position as me on here, if so, how do you do it?

alwaysonthego_2

Try www.entitledto.co.uk but you should get WTC, CTC and possibly some CTB.

You may find you are better off if you work.

MaggieD

Hi

I've done that calcuation, and basically I would have enough to pay the interest only, not the repayments too.

alwaysonthego_2

If that is the case the options you have are;

1) talk to the bank and ask for an interest only mortgage.
2) Sell your house and buy a more affordable house
3)get a lodger

Oldernotwiser

alwaysonthego wrote: »

If that is the case the options you have are;

1) talk to the bank and ask for an interest only mortgage.
2) Sell your house and buy a more affordable house
3)get a lodger

4) Get a job that pays more than being a TA.

Sam____2

you could get child tax credit, working tax credit, child benefit, council tax benefit and maintenance from the childrens father.
If you still can't manage on that then perhaps it's time to rethink your career choice or downsize your mortgage...

Oldernotwiser

I'm puzzled by this post as the OP seems to have already been offered a TA job and her adviser has told her she'll be £90 pw better off if she takes it.

MaggieD

The advisor in question wasn't taking my mortgage into consideration.
As a homeowner you aren't entitled to any help with the mortgage when you return to work (however you are if you are in rented accommodation which seems unfair)
As for downsizing, I'm in a small two bedroom terrace with two boys who already have to share a room, I couldn't possible afford somewhere even smaller.
Regarding the job position, I have studied to work as a teaching assistant and I realise that the starting wage for this job isn't so good but there are prospects (higher level for example) also, if I did a different job I would then have to find afterschool clubs and childcare for all the holidays.
All I wanted advise on was whether NatWest would agree to accepting interest only payments whilst I can't afford any more.

Hammyman

Oldernotwiser wrote: »

I'm puzzled by this post as the OP seems to have already been offered a TA job and her adviser has told her she'll be £90 pw better off if she takes it.

Doesn't puzzle me. There seems to be a whole load of people on this board who have lifestyles beyond their means and seem to expect the taxpayer to fund them.

Sam____2

MaggieD wrote: »

The advisor in question wasn't taking my mortgage into consideration.
As a homeowner you aren't entitled to any help with the mortgage when you return to work (however you are if you are in rented accommodation which seems unfair)
As for downsizing, I'm in a small two bedroom terrace with two boys who already have to share a room, I couldn't possible afford somewhere even smaller.
Regarding the job position, I have studied to work as a teaching assistant and I realise that the starting wage for this job isn't so good but there are prospects (higher level for example) also, if I did a different job I would then have to find afterschool clubs and childcare for all the holidays.
All I wanted advise on was whether NatWest would agree to accepting interest only payments whilst I can't afford any more.

only natwest will be able to tell you that, if that's all you were after then you wern't really looking for benefits advice...

MaggieD

Hammyman wrote: »

Doesn't puzzle me. There seems to be a whole load of people on this board who have lifestyles beyond their means and seem to expect the taxpayer to fund them.

I thought this was the Money Saving Expert forum, I seem to have stumbled upon the Daily Mail forum by mistake.