Advice on ways to budget better/cut expenditure

InAPickle76

enthusiasticsaver said:

At least you have that option. Don’t be too hard on yourself for getting into a bit of a mess. These offset mortgages were really only any good for those who had high savings and no affordability problems. No doubt your sons autism has put a strain on earning capacity for you and your DH. 

The problems with the rental market can be laid at the door of the current government and previous ones. 

You are now managing a budget better and one way or another you will get through this. 

It absolutely has as it meant my husband had to give up full time work as at the time my wage was higher which has meant our income was significantly reduced. But we needed someone to be there for our son as he needs that support and we wouldn't change him for the world Thanks for your support - it's going to be tough but we will try and keep our heads up and keep moving forwards x

InAPickle76

AnnieB2018 said:

I may have misunderstood but if you are not currently paying the full mortgage amount then you will not be able to remortgage anywhere. Your options are trying to make a bit more money, trying to cut down on spending and maybe ask for a breather on your loan repayments? Not paying the mortgage in full every month has hit your credit history very heard so there it can’t get much worse really!? Sorry if that’s harsh to say but it is a difficult situation.

It is an offset mortgage so as long as we pay an amount in every month and don't go over our agreed facility it does not get classed as a missed/reduced payment so our credit history is all up to date. We have always paid in more than the interest accrued each month however the last few months this has become more difficult.

InAPickle76

RAS said:

I note your husband's income in the SOA. Is that purely Carer's Allowance?

I believe he can also earn up to 139pw net?

Hard as it may seem, your debt situation means it's pretty much essential that he earns as much as possible, whether it's some school day employment or fitting some self-employment round your son's needs. It could be as basic as gardening, or painting and decorating. The other big advantage is that his income wouldn't be taxed.

Thanks RAS - unfortunately my husband has medical problems so cannot do any physical work. He has been looking at whether he can get some IT/call centre type work from home for a few hours per week to boost our income.

Plumjam

My son is also autistic.  From age 16 he has received Employment Support Allowance as his condition means he cannot work and so had no option other than to stay in education.  If your son receives ESA, you will lose your child benefit but ESA is a lot more than CB.
Also, your son receives PIP.  Does that include the mobility component?  Getting a car through Motorbility is a really good, affordable way of running a car.

InAPickle76

Plumjam said:

My son is also autistic.  From age 16 he has received Employment Support Allowance as his condition means he cannot work and so had no option other than to stay in education.  If your son receives ESA, you will lose your child benefit but ESA is a lot more than CB.
Also, your son receives PIP.  Does that include the mobility component?  Getting a car through Motorbility is a really good, affordable way of running a car.

Thanks Plumjam - how does he go about applying for ESA? Would he need an assessment? Yes he gets the mobility component of PIP - does this amount just then get deducted with a motorbility car?

sourcrates

InAPickle76 said:

Plumjam said:

My son is also autistic.  From age 16 he has received Employment Support Allowance as his condition means he cannot work and so had no option other than to stay in education.  If your son receives ESA, you will lose your child benefit but ESA is a lot more than CB.
Also, your son receives PIP.  Does that include the mobility component?  Getting a car through Motability is a really good, affordable way of running a car.

Thanks Plumjam - how does he go about applying for ESA? Would he need an assessment? Yes he gets the mobility component of PIP - does this amount just then get deducted with a Motability car?

You need to be getting the higher rate mobility component to take advantage of the Motability scheme, standard rate does not count.

If that`s what he gets, his allowance then covers the monthly payments.

He must have at least a year left on his claim though.

InAPickle76

sourcrates said:

You need to be getting the higher rate mobility component to take advantage of the Motability scheme, standard rate does not count.

If that`s what he gets, his allowance then covers the monthly payments.

He must have at least a year left on his claim though.

Thanks so much Sourcrates

Plumjam

InAPickle76 said:

Plumjam said:

My son is also autistic.  From age 16 he has received Employment Support Allowance as his condition means he cannot work and so had no option other than to stay in education.  If your son receives ESA, you will lose your child benefit but ESA is a lot more than CB.
Also, your son receives PIP.  Does that include the mobility component?  Getting a car through Motorbility is a really good, affordable way of running a car.

Thanks Plumjam - how does he go about applying for ESA? Would he need an assessment? Yes he gets the mobility component of PIP - does this amount just then get deducted with a motorbility car?

Google 'applying for ESA' - it should bring up the government website and tell you if your son is eligible and how to apply.

Tink_04

Come and visit the OS board, there is a good level of living and working with what you have got. 

Obviously make sure you have all the financial advice as above big OS is a great way to manage your house and budget in a frugal way.

kimwp

Tink_04 said:

Come and visit the OS board, there is a good level of living and working with what you have got. 

Obviously make sure you have all the financial advice as above big OS is a great way to manage your house and budget in a frugal way.

Which is the OS board?