How much board should I be paying?

Person_one

paulineb wrote: »

Its not secure being a homeowner if you lose your job and cant pay the mortage though is it? Its happened to plenty of people.

Im in a council house and I have an assured tenancy, its very secure.
Im much more secure in the home Im in at the moment than if I had taken on a mortgage and had difficulty paying it when I got made redundant which did happen to me

I do agree about private renting though.

A lot of people have recently found that council housing can still leave you vulnerable, remember bedroom tax?

paulineb_2

Person_one wrote: »

A lot of people have recently found that council housing can still leave you vulnerable, remember bedroom tax?

I actually pay the bedroom tax as it happens.

paulineb_2

But someone who has a mortgage and loses their job, cant claim interest relief on the mortgage for 13 weeks and in a lot of cases what is paid, doesnt cover the interest they need to pay their lender, never mind the mortgage payments

And selling up and downsizing can take time. Lots of people in housing are vulnerable. But Im less vulnerable than I would have been when my job ended 4 years ago being in council housing even with the bedroom tax, than I would have been trying to pay a mortgage.

Thats just my own experience. Also not every council is evicting people for bedroom tax arrears when the arrears are solely made up from bedroom tax non payments.

My council was, but thats been put on hold due to campaigns and public pressure. I believe no other council in Scotland had that policy. Lots of councils and housing associations wont evict if people cant pay the bedroom tax or housing benefit cut, whatever people want to call it.

poet123

paulineb wrote: »

But someone who has a mortgage and loses their job, cant claim interest relief on the mortgage for 13 weeks and in a lot of cases what is paid, doesnt cover the interest they need to pay their lender, never mind the mortgage payments

Most people get redundancy pay though which would tide the over till the claim was paid. Additionally, many people have MP policies to cover that eventuality. So the reality is that whether in social housing or a homeowner there is a safety net.

paulineb wrote: »

And selling up and downsizing can take time. Lots of people in housing are vulnerable. But Im less vulnerable than I would have been when my job ended 4 years ago being in council housing even with the bedroom tax, than I would have been trying to pay a mortgage.

If you own your own home you can take in a lodger to help pay the bills. You can't sublet an LA property in the same way without issues arising.

paulineb wrote: »

Thats just my own experience. Also not every council is evicting people for bedroom tax arrears when the arrears are solely made up from bedroom tax non payments.



My council was, but thats been put on hold due to campaigns and public pressure. I believe no other council in Scotland had that policy. Lots of councils and housing associations wont evict if people cant pay the bedroom tax or housing benefit cut, whatever people want to call it.

But if you lost your job the arrears wouldn't solely be made up of that.

Ultimately, the safety net is there for all but if you are a homeowner you can explore options that are not open to those who rent. And you have the asset to keep or dispose of when the payments are done.

Horses for courses, but renting is dead money imo if you have other options. Which is why most parents want their kids on the property ladder and will try their best to help them achieve that within the confines of their personal circumstances.

Dunroamin

mumps wrote: »

If they owe £50k then I agree most will never pay it off, but they will be paying it for years. What a sad situation and even sadder that people who benefitted from a more civilised arrangement have no sympathy for these young people.

I agree that things were more civilised in the past but that means that out of every 4 current students, only 1 would have actually gone to university at all. Personally, I think that this was much the better way to do things but I doubt that 3 out of 4 current students would agree.

Dunroamin

silvercar wrote: »

Some of those costs you will incur irrespective of whether the students return home. Some are dependent on the property that the parents chose to buy/ rent in the first place. eg council tax.

I don't get how youngster just starting out on their careers can be expected to make the same contribution as the parents who should be well placed on the career ladder.

Doesn't that rather assume that the parents have a career and a ladder on it?

When I left university (admittedly at the age of 29) I earned far more than either of my parents did (postman and clerk) and I would've done so even if I'd been about 22. I wasn't even in a high earning career either.

In addition, my parents weren't that far from retirement age and that will be the case for many graduates in their early 20s, whose parents had them when they were in their 30s.

Helpfulone

My daughter pays £50 a week for board. She's 31 years old working in an office.

My son is 21 and pays £30 because he's got less of a wage.

poet123

Dunroamin wrote: »

Doesn't that rather assume that the parents have a career and a ladder on it?

When I left university (admittedly at the age of 29) I earned far more than either of my parents did (postman and clerk) and I would've done so even if I'd been about 22. I wasn't even in a high earning career either.

In addition, my parents weren't that far from retirement age and that will be the case for many graduates in their early 20s, whose parents had them when they were in their 30s.

I think the point is more that whatever their financial position presumably they are living within their means and are not relying on the income from their adult child to make ends meet.

For someone like the OP who is paying for all her own food, toiletries and Sky the difference her presence will make to the overall consumption of the house would not imo amount to £170 pm, or certainly no more than that.

[Deleted User]

Dunroamin wrote: »

I agree that things were more civilised in the past but that means that out of every 4 current students, only 1 would have actually gone to university at all. Personally, I think that this was much the better way to do things but I doubt that 3 out of 4 current students would agree.

When referring to a more civilised way do mean funded by parents?

Person_one

paulineb wrote: »

But someone who has a mortgage and loses their job, cant claim interest relief on the mortgage for 13 weeks and in a lot of cases what is paid, doesnt cover the interest they need to pay their lender, never mind the mortgage payments

And selling up and downsizing can take time. Lots of people in housing are vulnerable. But Im less vulnerable than I would have been when my job ended 4 years ago being in council housing even with the bedroom tax, than I would have been trying to pay a mortgage.

Thats just my own experience. Also not every council is evicting people for bedroom tax arrears when the arrears are solely made up from bedroom tax non payments.

My council was, but thats been put on hold due to campaigns and public pressure. I believe no other council in Scotland had that policy. Lots of councils and housing associations wont evict if people cant pay the bedroom tax or housing benefit cut, whatever people want to call it.

The truth is, no housing 100% secure. Even if you own your house outright it could burn down or subside, or your circumstances could change so much that you can't live in it anymore.

When you're an owner-occupier though, it takes a really long time to get repossessed and kicked out, most people manage to survive and most lenders are pretty flexible. Both the homes I've bought were repossessed, but they were both owned by big buy-to-let landlords who were hit hard in 2007, not ordinary people who lost their jobs.