Need Advice for folks

charlie792

OK sorry if this is a little long winded...

Firstly I don't live at home - moved out and live with my partner but back at home is my mum, dad, 18yr old sister and my grandad.
They bought the house back in 2007 after living in rented for about 2 years (relocated and wanted to wait to find the right house) My grandad was lonely on his own and wanted to relocate too, him and my folks bought the house kind of together...he paid a lump sum from the sale of his house and my parents took out a mortgage on part of the remaining value - things have always been a bit iffy with the whole situation, always arguing about who owns what etc

Anyway my mum is (was) the main earner in the house, shes been manager of several law firms over the years, she's been at her current place for a couple of years but last year found out her firm was planning on merging (being bought out in reality) by another law firm. She asked and asked about her job and they said it would be safe, but she knew otherwise - The manager of the other law firm was a right b*tch (at the time I was working there too during the hols) she wanted everything to be done her way and made it clear to her boss under no circumstances my mum would be sharing her job. The merger (takeover) happened last October and several staff from my mums firm either left or made redundant. Its been on the cards for my mum to be let go for some time.

She text me yesterday telling me she was basically offered a cr4p package to leave which she refused to accept and she now has a meeting next week to discuss her future at the firm and if they say she's leaving she has to leave with immediate effect - she does believe however that she might have grounds to take them to tribunal over this - they deal with employment law so you'd have thought they'd do things right....

Anyway my mum has been looking for jobs for a long time - since April last year when she first heard plans to merge, she's been to a few interviews all around the country - she doesn't mind relocating but shes not had any success...

Now this is the problem, my parents have a huge mortgage on thier house, and thankfully as far as I am aware they have some kind of protection in the event of one of them loosing their job, but I think its only for 6 months or so. My dad's salary is pennies compared to my mum - he works as an assistant manager in retail but its rubbish pay - more or less half my mums salary....

I know times are going to get really tough for them if my mums out of work and Im worried for them. They've never had much spare money as it is. They have 4 people and a dog to look after....My sister works part time but doesn't pay rent and my grandad refuses to contribute to bills (as he thinks he shouldn't have to as owning part of the house etc etc)
and I fear the money situation is going to make an already bad living arrangement a lot worse.

I know that they only thing my mum would be entitled to claim is contribution based JSA.
If I was in a position to help them out then I would but I can't.

So my point is how the hell do they live on one persons salary when that salary is basically the same cost as the mortgage payments, let alone pay bills or buy food.
They've been in a financial mess in the past when I was really young, my dad was self employed and his business had dried up and he was classed as making himself intentionally redundant so couldn't get anything back then - I know they got into a lot of debt, something that took them years to finally sort out. I really don't want to see them going through that again

RAS

Does grandfather have any sort of pension?

If the house was sold, would it make the same amount that they paid in 2007, or would grandfather lose some of his investment?

Who actually is on the deeds - you can check this yourself on the land registry - cost £4.

charlie792

RAS wrote: »

Does grandfather have any sort of pension?

If the house was sold, would it make the same amount that they paid in 2007, or would grandfather lose some of his investment?

Who actually is on the deeds - you can check this yourself on the land registry - cost £4.

Yes granddad receives a state pension.

I think its my parents actually on the deeds and not my granddad - legally he doesn't own any share of the house as far as I am aware...
I could well imagine the house wouldn't make as much as it did back then - they live out in the country so houses are really pricey there but theres no comparisons to house prices - the lane they live on has about 20 houses of all different ages and sizes etc.

I know if it came to it my parents would be more than happy to sell to relocate - give my granddad back his share and leave him to it kind of thing....