Losing my home

cynicalgit_2

Sorry post crossed.
There must be a way to stay where you are don't throw in the towel.

cynicalgit_2

Is it possibe to transfer your equity into a cheaper home or a shared equity scheme?

kellyjo70

cynicalgit wrote: »

Sorry post crossed.
There must be a way to stay where you are don't throw in the towel.

I wish there was. I have spoken to Solicitors, Step Change, Financial Advisors and my mortgage company but no-one seems to have any answers for me.

kellyjo70

cynicalgit wrote: »

Is it possibe to transfer your equity into a cheaper home or a shared equity scheme?

My house is tiny (2 up 2 down), there aren't really any home cheaper in this area unless I opt for a flat I suppose but even they are not that much cheaper than this. I don't know what a share equity scheme is. I'm not really up on financial matters.

cynicalgit_2

Must be very frustrating as I imagine you probably only need an extra few hundred pounds a month to get by.
Dammit gets me cross thinking about it.

kellyjo70

cynicalgit wrote: »

Must be very frustrating as I imagine you probably only need an extra few hundred pounds a month to get by.
Dammit gets me cross thinking about it.

Exactly! Frustrating doesn't cover how I feel right now. Some people can blow that amount every weekend.

cynicalgit_2

kellyjo70 wrote: »

My house is tiny (2 up 2 down), there aren't really any home cheaper in this area unless I opt for a flat I suppose but even they are not that much cheaper than this. I don't know what a share equity scheme is. I'm not really up on financial matters.

Shared equity is when you pay part rent part mortgage with the option of increasing your share at a later date.
Google your local area for a current scheme.

kellyjo70

might be worth looking in to

shop-to-drop

Kellyjo turn your frustration to determination. Your son doesn't need you at home in the holidays now. Apply for every job you are capable of evenings, weekends, holidays to fit around your current job or fulltime jobs to replace your current job. Hope you aren't too late, good luck.

Also maybe your son can get work too. My 16 year old has just started a Sunday job so does not affect his studies and he's earning over £50 a week.

I'm pretty certain the job market is really picking up as the last couple of weeks I've heard of so many people getting new jobs both parttime and fulltime and not all in retail either.

kellyjo70

Like I said I rely on tax credits. In order to gain financially I would have to more than match what I get from Working/child tax credits. That is virtually impossible with my set of skills. If I worked in an office I wouldn't earn as much as that and shop work is not that well paid. Tax credits are adjusted every time I earn a bit extra and so I wouldn't gain anything unless I no longer needed them and that means earning a lot more money than I do now.