Help! IO mortgage coming to an end- Lender says NO EXTENSION MUST BEGIN REPAYMENTS

Gary123456790

Hi,

Just to add on the cost of childcare, yes nursery or a childminder is very expensive but from 2 years they can go to preschool - this is much cheaper - we pay around £40 a day for an excellent preschool (plus free days from age 3).

Also can any friends help with reciprocal childcare whereby one looks after both children while the other works? Even if this only gives you an extra day each working, it all helps.

You may also be able to get childcare vouchers from an employer.

Gary.

Peter999_2

Lucebee wrote: »

I was told by the person on the phone that I should 'get a job' or 'get a lodger' (impossible I live in a 2 bedroom flat with a toddler) or 'ask friends or family to help' - absolutely outrageous:mad:

Why is it outrageous to ask friends or family to help?, all the suggestions from the bank seem perfectly sensible to me - what did you complain about?

They've given you a full year to sort the problem out which sounds more than reasonable. As has been suggested there is no reason not to have the child in your room and have a lodger.

I'm sorry if this sounds harsh but sometimes you have to do things you really don't want to to get by.

notanewuser

Gary123456790 wrote: »

Also can any friends help with reciprocal childcare whereby one looks after both children while the other works? Even if this only gives you an extra day each working, it all helps.

I'm pretty sure they'd both have to register as childminders for this to be okay.

jamiefly

notanewuser wrote: »

I also have a 27 month old daughter and have to say that if I/we needed to we could EASILY all live in one room, never mind just sleep in one. So no reason at all not to have a room spare for a lodger other than you don't want to.

Tax credits will no doubt cover (70%?) of any childcare costs, so no reason for you not to work other than you don't want to.

IS will continue paying the portion of the interest whether you go back onto repayments or not. So no reason not to other than you don't want to work to pay your bit other than you don't want to.

And no, no other lender is likely to offer you a new mortgage while you're 100% reliant on benefits with no intention of working.

Getting a lodger in was probably a flippant remark by the call centre operative under pressure to meet targets. No one is really suggesting that you invite a stranger to live in your home while your prime concern should be the welfare and safeguard of your child.

Why do impressionable females keep falling for the kind of guy that does this over and over again. Part of me feels this is deliberate for the majority of single mums. Such is life.

michaels

notanewuser wrote: »

I'm pretty sure they'd both have to register as childminders for this to be okay.

Only if there was a financial arrangement - ie you charged each other child care fees.

notanewuser

jamiefly wrote: »

Getting a lodger in was probably a flippant remark by the call centre operative under pressure to meet targets. No one is really suggesting that you invite a stranger to live in your home while your prime concern should be the welfare and safeguard of your child.

Why do impressionable females keep falling for the kind of guy that does this over and over again. Part of me feels this is deliberate for the majority of single mums. Such is life.

Okay, let's sort out all those wonderful (and incorrect) assumptions, shall we?


I'm not a single mum. My husband and I and our 27 month old daughter often share a bed. If we had to, there's no reason that couldn't be a permanent arrangement.

Why would getting a lodger pose any reasonable risk for a child? Why would you assume that the lodger would be a stranger?

Gary123456790

could you tell us about your husband's employment situation? That would help to get more useful replies.

Thanks,

Gary.

notanewuser

Gary123456790 wrote: »

could you tell us about your husband's employment situation? That would help to get more useful replies.

Thanks,

Gary.

Mine or the OP's?

The OP doesn't have a husband and she says in the 1st post that he's lost his job.

notanewuser

michaels wrote: »

Only if there was a financial arrangement - ie you charged each other child care fees.

Not sure that's true.

notanewuser

michaels wrote: »

Only if there was a financial arrangement - ie you charged each other child care fees.

Not true.

http://www.netmums.com/work-childcare/childcare-swaps-the-rules