opinions please

GDB2222

JimmyTheWig wrote: »

You're paying for an investment decision that Lee made before you were on the scene. It still looks like a good investment, so either decide to keep it for the future or get someone (e.g. equity release company) to buy it off you.

That is a very good point, indeed!

Lee could well find an investor that specialises in reversionary properties to buy his interest in the house for around 45-50% of vacant possession value. That would more or less be enough to clear the mortgage, and it would leave mother-in-law with a lease for life from an investor who will leave her in peace.

It would also of course sort out the OP's financial concerns, although they would not have the house when MIL passes away.

The place to start looking for info is the trade association that most of these investors belong to - http://www.ship-ltd.org/default.aspx

GDB2222

One of the home reversion plan providers has a quick quote calculator here :

https://www.bridgewaterequip.co.uk/QuickQuote.aspx

mildred1978

chazall wrote: »

This is not true im saying that, the difference is i will go back to work and work my whole life to make things better for my family. Lee works very hard and its not about just holidays its got to the point were we are gonna be skint so keeping his my in the family home is too much. we deserve to live without counting the pennys.

Why on earth do you think that?!

Hubby and I used to bring in over £120k per annum before our son came along (and we worked a lot more than 2 or 3 years before having him). Do you think we didn't watch what we spent?

Our business makes around £100k per annum in profit. We still watch what we're spending, and shock horror, haven't been on holiday for 3 years!!

Why do you think you deserve anything?

mildred1978

chazall wrote: »

. Look me being a mum also is not the problems yes im a mum i dont have the choice to work. Im not scared of hard work if thats what you mean.

Of course you do! The vast majority of mums return to work when their children are small, often just to cover the childcare costs. You may be choosing not to, which is all well and good, but that means you have to sacrifice some things.

mildred1978

chazall wrote: »

.

Next paragraph aimed at all;

My best interests are my little girl, and as for securing her future with this Investment thats not somethink im worried about because i have my own in-heritance in the future and this will go to my children. Which is why although i can see others points in waiting, id would rather enjoy our lifes now.

Somethink???? That's no typo - you've done it twice on this thread.

Perhaps an adult literacy class would help before you 'return' to work.

JimmyTheWig

No need to be rude, mildred.

JimmyTheWig

GDB2222 wrote: »

It would also of course sort out the OP's financial concerns, although they would not have the house when MIL passes away.

We don't know what Lee thinks of this, but we know that the OP isn't interested in the value of the house.

Mrs_Arcanum

mildred1978 wrote: »

Of course you do! The vast majority of mums return to work when their children are small, often just to cover the childcare costs. You may be choosing not to, which is all well and good, but that means you have to sacrifice some things.

I know of at least two people who have had to give up their jobs because child care costs were extortionate. These are people who were in jobs well above NMW. The OP has already commented that there are no jobs available which pay well enough to cover child care costs so she has opted to be a full time stay at home Mum. Something I heartily approve of. It will give her daughter a far better emotional start in life than being left at a nursery every day.

mildred1978

Mrs_Arcanum wrote: »

I know of at least two people who have had to give up their jobs because child care costs were extortionate. These are people who were in jobs well above NMW. The OP has already commented that there are no jobs available which pay well enough to cover child care costs so she has opted to be a full time stay at home Mum. Something I heartily approve of. It will give her daughter a far better emotional start in life than being left at a nursery every day.

I agree, which is why I'm 95% SAHM and 5% company director. But we spent 18/19 years building the financial security needed to do that.

Mrs_Arcanum

mildred1978 wrote: »

I agree, which is why I'm 95% SAHM and 5% company director. But we spent 18/19 years building the financial security needed to do that.

So why condemn someone who is not claiming any more than CB for staying at home. Current circumstances clearly allow them sufficient income to do this.

Unfortunately because he was a good son and bailed his parents out he is now prevented from buying his own place at a time when he needs it for his family.