Help! Potentially getting myself in a pickle

Thatsthespirit

I've recently had to walk out my job due to health reasons (long story). I am a single home owner and applying like no tomorrow for jobs but getting nothing back. I'm starting to panic now. I hardly have any savings to cover my mortgage and bills each month. My property has been on the market for a few months now but no buyers. I'm only 24, life has hit me quite early on unexpectedly. Not sure what to do

enthusiasticsaver

Have you checked to see if you are entitled to any benefits either because you are unemployed or because of your health? I am not sure what the position is when you leave a job rather than being made redundant but someone on the benefits board may know.

Speak to your mortgage company and utilities to let them know the situation before you default.

Muttipops

Do you have a spare room that you could rent out?
You can earn up to £7,500 tax free per year and this would help with bills.


https://www.gov.uk/rent-room-in-your-home/the-rent-a-room-scheme


Also, do you have back up with your health problems from your GP or somebody in the family or friends you can share this with, as you sound like you need some support?


Is the property on the market because you want to move or is the pressure of homeownership and all the bills too much for you?


And have you thought of changing estate agent/ dropping the price if you afford to?


Just trying to get an idea of your situation.


Maybe if you feel up to it you could post a Statement of Affairs on here and people could see if they could give you some budgeting advice to help you get through these difficult times. Here is the link to one...http://www.stoozing.com/calculator/soa.php

National_Debtline

Hi there,


Some really good points already made, I would just add that if there is equity in the property you could also talk to your mortgage lender about what help they can offer whilst you are trying to sell. For example, a full or part payment holiday or switching from repayment to interest only. This is obviously going to nibble into your equity but may help take some pressure off whilst you are trying to sell.


You can do a benefit check online at www.turn2us.org.uk, good luck,


Laura
@natdebtline

another_casualty

Sorry to hear of your situation .
Unfortunately, if someone quits their job these days without another one to go to, they are not entitled to sign on for anything for 6 months .

What area do you live in ? Is there a lot of work in the area?
What kind of work do you do ?
What is the health issue?
Have you registered with recruitment agencies? If so, do you phone them once a week for temp or full time employment .

Hope things improve

Smodlet

Or, assuming you are able to work and have registered with agencies, call them every day. I have known people who showed up at an agency every day, just as if they were going to work, and just waited for an assignment to come in, rather than relying on a phone call.

If you are not able to work due to ill health, then definitely ask on the benefits board in case there might be something you can claim.

fatbelly

Have you had a look on your lender's website to see what help they might offer? This is Halifax's

http://www.halifax.co.uk/mortgages/financial_difficulty.asp

They don't mention 'Assisted Voluntary Sale' but some will do this. If yours does , then they will assist you to sell, maybe help with legal fees while you only pay what you can afford to the mortgage.

Bear in mind, however, that you can't join the scheme if you already have the property with an estate agent as the lender wants control of the process from the start

You should claim JSA if you qualify (also council tax reduction) - savings will need to be <16k. You should also be aware of Support for Mortgage Interest if you are on JSA, though one of Osborne's parting shots was to move the waiting period back to 39 weeks so you probably don't qualify for SMI yet

https://www.gov.uk/support-for-mortgage-interest/overview