surrender. how to? :(

Crashy_Time

ProDave wrote: »

I have been there and done that, in my case where the mortgage was more than half my take home pay.

When you are on a low income (I never thought I would call £22K a low income, that's more than I earn now) you have to learn what to spend your money on, and more importantly what NOT to spend your money on.

Credit cards are evil things in this situation. Do NOT use them to spread payments. Take a look at the interest they charge. They are wonderful things just for ease of purchase and pay off the lot each month. We probably spend £2K per month on them, but never pay a penny in interest. The very last thing you want to be paying when you are short of money, is interest.

If you can't afford to buy it, then DON'T Make do with what you have.

I honestly think people today have lost the ability to "make do" when things get tight.

If you do throw in the towel, where are you going to live?

As more and more people are accepting now...deep breath....exhale.....HOUSE PRICES AND RENTS ARE TOO HIGH!....there are too many people in lifetimes debt, or putting half their wages into rent for basic shelter for this to be politically/socially sustainable, it isn`t about cutting back on coffee or smartphones, it is about getting out from under a massive debt bubble, and it won`t be painless.


https://www.zoopla.co.uk/discover/property-news/accidental-landlords-put-80-000-homes-up-for-rent/#iuVgzMGJ3D4oaSkv.97


As people can`t sell their property (for massively inflated prices) and struggle to rent them out, we see the mess start to unravel, wouldn`t it just be much easier if people could move home or sell a home when they needed to so they could get on with their lives?

Crashy_Time

cjmillsnun wrote: »

Crashy he lives in Woking. It is very expensive to rent there.

Maybe when the bankers flee London it will get cheaper?

00ec25

Crashy_Time wrote: »

Pardon? You think paying half of your take home wages in rent is ok or somehow normal?

pay more attention to the facts of each post rather than seizing any opportunity to spout your rhetoric

a) location ...... Woking
b) earnings ..... about average for someone working in a clerical job in the local area, ie not "in" London and not in a skilled/trained position.

a/b = 50% = not an unexpected outcome

Crashy_Time

00ec25 wrote: »

pay more attention to the facts of each post rather than seizing any opportunity to spout your rhetoric

a) location ...... Woking
b) earnings ..... about average for someone working in a clerical job in the local area, ie not "in" London and not in a skilled/trained position.

a/b = 50% = not an unexpected outcome

You totally miss the bigger picture though, many people are now realising that that is not an acceptable or desirable situation, hence the possibility that JC will win an election by landlord bashing. It is obvious that a lot of the rhetoric on here is just about wanting UK house prices to stay high, unfortunately for you the Fed/EU has other ideas

cjmillsnun

Crashy I’m not bothered about house prices to be honest. I have bought my house, can afford a large base rate rise if needs be and have no intention of selling for a long time.

I’m just stating the facts about the area right now. One which I know quite well.

Woking IS expensive to rent in. It is desirable as it is in the commuter belt. Most banks have revised down the job losses from Brexit so build into that what you will.

At the end of the day we can make predictions about what will happen.

You’ve been predicting a house price crash for a number of years now which hasn’t happened (yet).

But the situation affects the OP now. Bleating on about what you would like doesn’t help him out of his predicament.

aneary

You could probably get a studio flat or one bedroom flat in addlestone/rowtown/new haw for less than £800.00 and then walk to work that will cut down cost in April. Or move to a house share but if you do have a child that may not be practical.

Have you thought about working in a bar a couple of nights a week it gives you some social life and extra money?

fly53

thanks so much for the replies. ive got a part time job in marks on saturdyas which will help, but utlimately.. long term unatainable.

im issuing my break clause before the 24th feb and hopefully going back to parents before april 24th

as for my last payment on rent. youve got to love these guys.

agent insisting i pay my last payment on the 24th april. my move out date. but i paid a month in advance back in august.

am i missing something here?

Crashy_Time

fly53 wrote: »

thanks so much for the replies. ive got a part time job in marks on saturdyas which will help, but utlimately.. long term unatainable.

im issuing my break clause before the 24th feb and hopefully going back to parents before april 24th

as for my last payment on rent. youve got to love these guys.

agent insisting i pay my last payment on the 24th april. my move out date. but i paid a month in advance back in august.

am i missing something here?

Good move, save hard and invest smart, and wait for the levee to break on this absurd property bubble, good luck!

fly53

Thanks. Im still convinced my agent is trying it on tho.

HampshireH

It would be very odd to pay rent on leaving.

Sit down with your bank statements work out exactly what and when you paid then write to them stating your payments and when your last payment will be due.

If you pay in advance then it makes no sense to ask you for payment at the end. There may be an exit fee though so watch out for that one.