Single, pregnant, mortgage? HELP. 10 January 2017 at 9:57AM in MoneySaving mums 10 replies 8.1K views

MelBow28

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.

Pollycat

Can you explain what you mean by 'taking over the mortgage'?

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?

MelBow28

They have agreed, its been a long haul but we are hopefully finalising with the solicitor today. There is no equity and I cannot afford to buy my ex out, although he doesn't want any money from me and has covered solicitor costs. It's the future i'm worried about... when i'm on maternity, cost of living, I don't understand how single mothers can afford mortgages and everything else.

Pollycat

What are your plans for working after having the baby?
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.
https://www.gov.uk/
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.

swimminginaseaofdebt

Hi MelBow,

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.

TBagpuss

Have a look at https://www.entitledto.co.uk/benefits-calculator/startcalc.aspx to work out whether you can claim any benefits / tax credits you are not already getting (and also to get an idea of what you may be entitled to once the baby comes)
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?

squirrelcyril

How can you not have an idea or clue who the father of your baby is?

Pollycat

squirrelcyril wrote: »

How can you not have an idea or clue who the father of your baby is?

That is not what the OP said.
She did not say she didn't have an idea or a clue.
She said this:

MelBow28 wrote: »

I am 8 weeks pregnant and at this point unsure who the father is.

'Unsure' is not the same as 'no idea' or 'no clue'.

Do you have any useful advice to offer the OP?
If not......

parsimonious-mummy

It may be worth speaking to the mortgage company, they may reduce your payments for a bit while you are on maternity leave.
Best wishes

da_rule

Are you on a fixed term, if so how long is left? If not, or it is coming to an end, could you switch to interest only for a couple of years? This really isn't ideal, but it could reduce your monthly payments.

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.

springdreams

MelBow28 wrote: »

They have agreed, its been a long haul but we are hopefully finalising with the solicitor today. There is no equity and I cannot afford to buy my ex out, although he doesn't want any money from me and has covered solicitor costs. It's the future i'm worried about... when i'm on maternity, cost of living, I don't understand how single mothers can afford mortgages and everything else.

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.