Finally ready to walk away...

tigerfeet2006

Unfortunately because of the size of the SL it is not really an option to stay in the house.

Maxana, also round figures to the nearest pound.

Maxnana

Ineedaname wrote: »

Remember that you can only go BR as an individual, so your SOA should reflect that in respect of your income. So on your SOA you need to show your full income and the percentage of your partner's income which goes towards joint household expenditure, then on your partner's SOA you show their full income and the percentage of yours which goes towards the joint bills. You can either show your son's contribution in total on just one SOA or split between you as £75 to each. Then you just add in any personal expenditure as relevant on each SOA.

That way you just show an individual surplus.

If you show the entire household income on each SOA it can look as though each of you has the same amount of surplus, when in fact that is a joint surplus. Just saves any confusion when the OR comes to review the figures.

I'm trying to split the SOA into one each for me and my husband at the moment but keep getting in a right pickle and having to start again! I don't know what pertentages to put for joint expenditure, and it all keeps coming out wrong. :huh:

I will keep going at it until I get it right (Well, I have to!) and will post as soon as I've done it.

I don't know why I thought we could both (husband and me) go on the one SOA - I knew we'd have to do bankrupcy seperately. Maybe somehow I just thought because virtually all our expenses are joined, we'd be in it together!

Incidentally, is there a set amount you are allowed for rent?

Thank you.

Ineedaname

If you click on the link in my post the explanation there will hopefully help you work out the percentages and how to apply them.

No set amount for rent, just put down what you expect to pay for the right sized property for your family in the area you hope to rent.

Maxnana

Ineedaname wrote: »

If you click on the link in my post the explanation there will hopefully help you work out the percentages and how to apply them.
Thank you, I will do that.
No set amount for rent, just put down what you expect to pay for the right sized property for your family in the area you hope to rent. For your family I think the entitlement would be a 2 bedroom property, one for the couple and one for your son. I'm not sure whether the ORs use council housing needs criteria or something else. If you could secure a 3 bed property for cheaper than average rent then the full amount might be allowed.

Crikey! Two beds, maybe 3?

We're in a 3 bed now as the 'box room' is used as an office - I do some work/studying from home. Was hoping to keep that setting and even hopefully increase to 4 beds as we have our little grandson to stay often (out of necessity while daughter-his Mum, works - not just for pleasure ), and until now he has been in a cot in our bedroom, but as he'll be 3 next week, we could really have done with a little room for him. (My son often has his girlfriend to stay, so not appropriate to put a little child in with them!)

Well, I suppose beggars can't be choosers, and it's time to get real, I think!

Ineedaname

Sorry, didn't mean to freak you out, wasn't aware of the extra circumstances of course.

If you have valid reasons for needing a larger house then a reasonable OR should allow you the rent. It might be that you are lucky enough to find a 3 bed house where the 3rd bedroom is large enough for a sofa bed and your study? Or perhaps a 4 bed house that is cheaper than the norm. Have a look on somewhere like Right Move to see what rents are like and what you might be able to afford.

I think this is something where you could do with advice from the CAB or similar. Or maybe someone like Fermi or DD on here could comment on how ORs assess housing need with regard to number of bedrooms.

Maxnana

Ineedaname wrote: »

If you click on the link in my post the explanation there will hopefully help you work out the percentages and how to apply them.

I'm so sorry to mither, but I can't find a link in your post? :huh: I'm probably going batty, but could you direct me to it please?

Thank you.

Ineedaname

No worries. My post #36 that you quoted above in your post #43. Just click the blue text which denotes a hyperlink to another page.

bev2147

Hi, we are in the same position with a loan with Northern Rock and a FP secured loan. We have had an offer on our house today which would leave us about £9000 - £12000 short to repay FP, but we need to sell, and get into rented, but with outgoing BR. We just want to walk away and then attempt to pay back the shortfall to FP. do you think that they will not let rs do that and will block the sale of our house? Thnks. Sick with worry, if we can't sell we will just get deeper and deeper into debt