New SOA could someone have a look

The_Duchess_3

Hi

I am going to have to submit a new SOA as I am moving on the 1st December. At the mo I have an IPA of £40p/m. I have had to estimate the bills at present so may change once I have moved and know how much am spending, but would like an opinion on what I am going to submit. Also would they accept me sending it in before I move? Thanks

Household Information[/b]
Number of adults in household........... 1
Number of children in household.........
Number of cars owned....................
Monthly Income Details
Monthly income after tax................ 1187
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1187
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 480
Management charge (leasehold property).. 0
Council tax............................. 90
Electricity............................. 30
Gas..................................... 25
Oil..................................... 0
Water rates............................. 30
Telephone (land line)................... 0
Mobile phone............................ 30
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 197
Clothing................................ 30
Petrol/diesel........................... 100
Road tax................................ 12
Car Insurance........................... 42
Car maintenance (including MOT)......... 35
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 15
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 10
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 15
Entertainment........................... 0
Holiday................................. 20
Emergency fund.......................... 10
Total monthly expenses.................. 1183

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 0
Total Assets............................ 0

No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
CSA o/payment..................1054.26...0.........0
T/C o/payment..................2321.91...0.........0
Loan...........................6812.59...0.........0
Total unsecured debts..........10188.76..0.........-

Monthly Budget Summary
Total monthly income.................... 1,187
Expenses (including HP & secured debts). 1,183
Available for debt repayments........... 4
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 4
Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -10,188.76
Net Assets.............................. -10,188.76
Created using the SOA calculator at www.stoozing.com.
Reproduced on Moneysavingexpert with permission, using IE browser.[/font]

HappyMJ

Your gas and electric is very low...should be about 50% higher than the figures you have. Have you taken into account recently announced price rises? Your monthly haircut figure is a bit high. It's only minor tweaking and as your income is so low you won't get an IPA anyway so don't worry about it too much.

PippaGirl_2

The above figures are the same as I was paying in a 2 bed flat so I think they are realistic unless the property is not well insulated.

Seems a fair SOA to me.

kepar

Can I ask why are you moving?

Is the new rent higher/lower than before?
Is it an average for the area?

I only ask these questions, in that the OR may not allow the rise in rent if there is one. You may have to find the excess from another allowance.

The_Duchess_3

Thanks for the replies

At present I am renting a room in a house, my LL's partner and her son are going to be moving in and and they now need the spare room. So don't really have a choice.

For where I live £480 is quite low for a 1 bed flat so am hoping the OR will be ok otherwise I am going to be stuffed!!!

The rent before was £550 but included most of the bills

HappyMJ

PippaGirl wrote: »

The above figures are the same as I was paying in a 2 bed flat so I think they are realistic unless the property is not well insulated.

Seems a fair SOA to me.

I am just saying the figures for gas and electric are very low in my opinion. It equates to an annual gas usage of 4,400kWh and an annual electricity usage of 1,900kWh. I would expect both figures to be much higher as the average usage is closer to 16,500kWh gas and 3,300kWh electric. The average property is not very well insulated although the average property would be much larger than a 1 bed flat but the estimates the OP have used are still very low.

HappyMJ

The_Duchess wrote: »

Thanks for the replies

At present I am renting a room in a house, my LL's partner and her son are going to be moving in and and they now need the spare room. So don't really have a choice.

For where I live £480 is quite low for a 1 bed flat so am hoping the OR will be ok otherwise I am going to be stuffed!!!

The rent before was £550 but included most of the bills

What is the LHA rate (housing benefit) for your area? If the proposed rent is around about the same figure as the LHA rate then the OR won't mind.

sort_me_own_yard_out

I think if you recieve any child support from your childs father that would have to be included.

HappyMJ

sort_me_own_yard_out wrote: »

I think if you recieve any child support from your childs father that would have to be included.

What child?

The_Duchess_3

Yep no child - mines 20 and lives away! lol Thanks for all your replies and comments

[Deleted User]

HappyMJ wrote: »

Your gas and electric is very low...should be about 50% higher than the figures you have.

Not necessarily.

I live in a 1 bedroom flat, and my gas in £27 pm, and electricity £15 pm.