Sell up and stop complaining about going hungry and cold.

Percy1983

ukcarper wrote: »

I hope nothing happens to you as it is very easy to fall into some kind difficulty and it take much longer than 6 months to overcome.

Another thing you seemed to have missed is that the larger amount of rent will most likely be going to your favourite person the BTL landlord.

I don't know, for us to end up that way it would take interest rates for 25%+ (not a problem still on a fix for 4.5 years) and one of us losing a job at the same time.

To which we have 2 weeks unemployment between us since leaving school and a business which is growing rather well.

Yes I don't expect everybody to be so well equipped but surely living on the edge to start with is the bigger problem.

Graham_Devon

Eellogofusciouhipoppokunu wrote: »

Even if it cost a significant amount more and even if the mortgage repayments were for a short period, while the housing benefits were for an indefinite period?

Why are you making out that housing benefit is for an indefinate period?

The OP said struggling. Not unable to work ever again.

The argument has been dragged down to the lowest denomintor....the person who was struggling and does absolutely nothing about it ever. Yet you expect the same person to stay in their home....not sell up....and continue paying the mortgage.

ukcarper

Percy1983 wrote: »

I don't know, for us to end up that way it would take interest rates for 25%+ (not a problem still on a fix for 4.5 years) and one of us losing a job at the same time.

To which we have 2 weeks unemployment between us since leaving school and a business which is growing rather well.

Yes I don't expect everybody to be so well equipped but surely living on the edge to start with is the bigger problem.

You don’t have to be living on the edge to suddenly find yourself in difficulty.

ukcarper

Graham_Devon wrote: »

Why are you making out that housing benefit is for an indefinate period?

The OP said struggling. Not unable to work ever again.

The argument has been dragged down to the lowest denomintor....the person who was struggling and does absolutely nothing about it ever. Yet you expect the same person to stay in their home....not sell up....and continue paying the mortgage.

Lets face it Graham if they are earning reasonable money and not able to claim benefits they only have a few choices. Tighten their belts, sell up and either rent or downsize or go into debt. The truth is that a very large percentage of the people complaining are not actually in the position where they can’t afford food etc.

Percy1983

ukcarper wrote: »

You don’t have to be living on the edge to suddenly find yourself in difficulty.

If your not on the edge its a lot harder to find yourself in difficulty.

Eellogofusciouhipoppokunu

Graham_Devon wrote: »

Why are you making out that housing benefit is for an indefinate period?

The OP said struggling. Not unable to work ever again.

The argument has been dragged down to the lowest denomintor....the person who was struggling and does absolutely nothing about it ever. Yet you expect the same person to stay in their home....not sell up....and continue paying the mortgage.

Housing benefit is paid over an indefinite period, whereas SMI in this context has a limited timespan and then stops (24 months). That's the point I was making, but as I said in my posts, the OP didn't mention Benefits, so we can rule it out of the discussion.

I assumed we were talking about a long-term problem because surely you would agree that it would be madness to make such a long-term decision such as selling a house in order to fix a short-term problem?

ukcarper

Percy1983 wrote: »

If your not on the edge its a lot harder to find yourself in difficulty.

You can lose your job whether you are on the edge or not and if you feel you job is secure now things change.

Percy1983

ukcarper wrote: »

You can lose your job whether you are on the edge or not and if you feel you job is secure now things change.

I agree, but going back to my situation, we have 2 incomes coming in yet we could still live easily on 1 wage, so we are far from the edge so it would take a much bigger push to get us over the edge. So the odds on us both being out of work for the same 6 months is highly unlikely.

Yet if you have 2 incomes and have maxed yourselves as you say I job loss could cause big problems.

ukcarper

Percy1983 wrote: »

I agree, but going back to my situation, we have 2 incomes coming in yet we could still live easily on 1 wage, so we are far from the edge so it would take a much bigger push to get us over the edge. So the odds on us both being out of work for the same 6 months is highly unlikely.

Yet if you have 2 incomes and have maxed yourselves as you say I job loss could cause big problems.

Lots of people have though they were immune from problems only to suddenly find out they weren't.

You seem to have bought into the manta that eveybody has overstretched themselves and it is only them that can find themselves in trouble.

Eellogofusciouhipoppokunu

Percy1983 wrote: »

I agree, but going back to my situation, we have 2 incomes coming in yet we could still live easily on 1 wage, so we are far from the edge so it would take a much bigger push to get us over the edge. So the odds on us both being out of work for the same 6 months is highly unlikely.

Yet if you have 2 incomes and have maxed yourselves as you say I job loss could cause big problems.

I essentially agree with what you are saying; people who are closer to the edge of their finances have less wriggle room than those who are more comfortable. However, not many people are untouchable, which I think is the point Uk Carper is making.

In your situation, you could get seriously ill and your wife might have to take time off work to take care of you. You might both be hurt in the same accident and unable to work. Unlikely but it does happen, but you are in the realms of cost/risk analysis of whether to insure for these sorts of eventualities.