Single, pregnant, mortgage? HELP.
in MoneySaving mums
10 replies 8.1K views
I am 8 weeks pregnant and at this point unsure who the father is. My ex has left me and i'm taking over the mortgage (sorting this today), in 7 months time I am screwed... How can I afford to keep my mortgage and up to date with my bills? I don't earn an awful lot, just enough to get by as it is, I really don't know what I can do here! Never thought I'd be a single parent.
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It's not as simple as just taking someone's name (i.e. your partner) off the mortgage.
The mortgage company will want to be sure that it will still be paid and I very much doubt that they'll agree to you putting it your sole name specially as your financial situation is going to change massively in 7 months time (if not before).
What about the equity in the house?
Can you afford to buy your ex out?
i.e. is there anyone to look after the child? Parents?
I think you should start to investigate what benefits you would be entitled to.
Obviously child benefit, but possibly Income Support.
If you get IS, you may be eleigible for SMI - Support for Mortgage Interest.
Possibly Child Tax Credit.
Take a look at Gov.UK website.
There are benefit calculators that you put your details in and it will give an idea of possible benefits.
I'd do this, then try to book a session at your local CAB for one-to-one advice.
Do you have plans to determine who the father is?
They are responsible for paying child maintenance.
I am a single parent paying a mortgage etc and rest assured it is possible to get by
Do you know what type of maternity package you are entitled to through work?
A top tip I'd give is be very receptive to second hand baby items as it saves a significant amount of money.
You will be entitled to child support from the father - (you can get rough idea of the amount here - https://www.gov.uk/calculate-your-child-maintenance, if you know what his income is)
Do you know what you will be entitled to in terms of maternity pay etc?
Would it be possible to take in a lodger for the next 6-7 months to help build up a bit in savings?
She did not say she didn't have an idea or a clue.
She said this: 'Unsure' is not the same as 'no idea' or 'no clue'.
Do you have any useful advice to offer the OP?
Have you thought about potentially getting a lodger (if you have a spare room)? Again, less than ideal with a baby on the way but could be a source of added income.
By going back to work as soon as possible.
I am a single mother. I've been taking care of my DS and paying the mortgage by myself for very many years. I only took 11 weeks maternity leave then went back to work.
I saved up before going on those 11 weeks maternity leave, and reduced my outgoings as far as possible, so that I knew that I would be able to pay my bills as I didn't receive maternity pay from my employer as I was a contract worker.
I also didn't get any child support as my son's father decided he didn't want to pay so left the country instead.