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Advice needed regarding 'Sell and Rent Back'

edited 30 November -1 at 1:00AM in Debt-Free Wannabe
47 replies 4.5K views
124

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  • This might sound a little strange in light of everything posted above but I just want to say how much this thread has helped me. I also felt very alone and dejected but have somehow been stimulated to try harder to resolve my problems. Knowing that others are out there doing exactly what I need to do and going through what I am going through is somehow strengthening. Chin up Janakajan. We'll do it together.
  • beanieloubeanielou Forumite
    76K Posts
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    ✭✭✭✭✭✭
    If joel is still at Primary would he take a packed lunch even two or three days?
    YOu would only get free dinners if on child tax only & not working tax.
    When your contract with Bt is finished you can get a better contract for your broadband.
    Ditch your bin washing.
    An extra wee source of income would be great if you could get something.
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~**
    MFW. Finally mortgage free February 2021****
    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    It starts with you, it starts from now. *** It is ok to be me.***
    ***Keep plodding***
    Out of debt, out of danger. ***Be the difference.***
  • This might sound a little strange in light of everything posted above but I just want to say how much this thread has helped me. I also felt very alone and dejected but have somehow been stimulated to try harder to resolve my problems. Knowing that others are out there doing exactly what I need to do and going through what I am going through is somehow strengthening. Chin up Janakajan. We'll do it together.
    Hi, I'm glad that this forum is helping you too. These people are absolutely wonderful, and so wise. The best thing is that they have all been there and done that, and can help us avoid making even bigger mistakes on our way out of our predicaments.
    I hope your situation is not as bad as mine, and that you soon find a solution to your debt problems.
    Good Luck!
  • janakajanjanakajan Forumite
    17 Posts
    Again, thank you all for your swift responses.

    Wyebird and Tashja, I have bitten the bullet, and just sent a text to my colleague at work, who runs the lottery syndicate, and told him I have to drop out. I felt bad about this - hence the cowardly text instead of facing him at work to tell him. Also, yes, you are right about the bin cleaners, and I am going to cancel this too when they next call. I will feel bad about this too, but it has to be done. I must confess to you that I am such a soft-heart (to the extreme sometimes) and the only reason I use the bin cleaners is because when they first started up, they put notes through everyone's doors which said that they were a tiny company who were creating jobs for people. I felt guilty, and since it was only a small amount (it used to be £6) I took them on. I could afford it at the time and felt good that I was helping someone. The most stupid thing is that my bin never needs cleaning. I use bin bags for all my rubbish, and nothing goes into the bin unwrapped. Anyway, thank you. I could see this was money thrown away as I was writing out my SOA, and was tempted to leave them out of the list. But I'm glad I decided to be honest, and I certainly needed the push you gave me to take the plunge.

    Hi Verbatim. Yes, sorry, I meant to reply to your suggestion before. I do have a spare bedroom, but I use it for when my family stay (my eldest son is in the army, married with one child, and they all stay about 3-4 times a year, a few days to a couple of weeks) and also when I am babysitting and the children are staying overnight.
    However, I know it is a very good idea, and there would be ways around my excuses. But I have been thinking about it and I have to tell you the truth. The thought of having a stranger living with me actually scares me. I have heard of people having bad experiences with lodgers, and I'm not a very strong person - a scaredy-cat. I would probably let them have everything their own way, and end up feeling like the lodger myself.
    Also, as I work nights it means that the house is empty for three nights a week, and I'm sleeping during the daytime, and I would feel rather uncomfortable about this situation. But, as I said, it's a very good idea, it's just me who's useless - I hope you can understand this, and thank you.

    The £5 monthly debt is now only £38 and will soon be cleared.

    Davey, I will go to Payplan as you suggested. Hopefully they can help me out in an honest way, and even if they can't reduce my repayments, at least they may be able to relieve me of this new worry about the Hamilton Locke people. I have been trying to find the statement they sent to me a while ago, with the breakdown of how much they are paying each of my creditors, but as I remember, I was surprised to how much was left for them after they had made these payments. It was something like 50%.
    Thank you for finding this information for me.

    Mightymouse, Yes, this is a great idea. I will have to try and find out more about it. I may even have some information somewhere from when I first set up my mortgage. If you do happen to find anything else on this subject, I would be grateful if you would pass it on to me.
    Thank you very much.

    Hi Joeblack. Thank you for studying my SOA. As you can see, I have already taken the advice on getting rid of the lottery and the bin cleaners. I will have to look into the water meter idea. I'm sure there will be some kind of online calculator that would work out how much water I use, etc.

    The rental washer I have thought about getting rid of many times over the years. My main worry here has always been that if I bought a second-hand one or got a free one from Freecycle, and it broke down, then I would not be able to afford to get it repaired. But thinking about it now, since it has been suggested a few times here, I suppose that even if I only got six months use out of it, then I would have saved about £60, and so that would probably cover another second-hand washer. Obviously, nothing gained in that event, but nothing lost either, and the chances are that it would last a lot longer than that. I think I will do this. Thanks to all for this suggestion.
    I don't know how to save on the phone though, Joeblack. I think I pay more than £30 per month before I even make a phone call. I will have to think harder on this one to see how I can save - although the simple answer is not to phone mobiles. I was going to have a bar put on mobile calls and just use my own mobile to send texts instead of phoning. But I think when I looked into this I found that there was a charge - monthly or each time you use the pin number, I can't remember - something like that that had put me off. I'll have another look at it.

    I know I keep saying it, but I mean it - thank you all again for your help and wonderful ideas. You have given me lots of prudent information here, and I have plenty to check out.
  • TashjaTashja Forumite
    1.2K Posts
    Part of the Furniture Combo Breaker
    ✭✭✭
    Hi Jan

    I don't know how this will work with Joel but there is another thread on here called "Does the Tax Man owe you any money" posted by Whitelilly.

    I have just looked into this post and it looks like I am owed some money from the tax man because they didn't reduce my tax code. Have a look and see if the same applies to you.

    T xx
    Comp wins from 2011

    11k in 2011 - £20.01
    :j
  • janakajanjanakajan Forumite
    17 Posts
    Tashja wrote: »
    Hi Jan

    I don't know how this will work with Joel but there is another thread on here called "Does the Tax Man owe you any money" posted by Whitelilly.

    I have just looked into this post and it looks like I am owed some money from the tax man because they didn't reduce my tax code. Have a look and see if the same applies to you.

    T xx
    Thanks Tashja - I will have a look at this link.
  • janakajanjanakajan Forumite
    17 Posts
    beanielou wrote: »
    If joel is still at Primary would he take a packed lunch even two or three days?
    YOu would only get free dinners if on child tax only & not working tax.
    When your contract with Bt is finished you can get a better contract for your broadband.
    Ditch your bin washing.
    An extra wee source of income would be great if you could get something.

    Thanks Lou. I could give it a try and see if it works out cheaper. Joel is at primary school at the moment, but leaves this year for high school. I don't know if packed lunches are 'in' at high schools - it's a long time since I was at school. But maybe I could save a bit of money in the meantime.
  • milkydrinkmilkydrink Forumite
    2.4K Posts
    Jan

    I understand what you mean about a lodger, I wouldn't feel comfortable with it either.
    Glad you got rid of little bits & bobs that were costing you money.

    What about the school lunches, packed lunches can be cheaper (& better, unless Jamies been in:rotfl: ) or will your child not budge on this?

    I too wondered what the bin cleaners were:rotfl: Are you telling me they charge £8 to give your wheelie bin a scrub out:eek:

    Hopefully you will be able to pick up some more savings tips on the other boards, they are great:D

    You sound more in control & happier:D
  • mightymousemightymouse Forumite
    319 Posts
    Hi

    Not much help but found detail and suspect you bought before jan 05...


    Right of first refusal
    If you purchase your home under the Right to Buy scheme on or after 18 January 2005, and you wish to resell or dispose of it within 10 years, you will be required
    to offer it to either your former landlord or to another social landlord in your
    area at full market value. The market value must be agreed between the parties
    or, if they are unable to agree, will be determined by the District Valuer (this
    Office will pay the costs of employing a District Valuer). If your offer has not
    been accepted within 8 weeks, you will be free to sell the property on the
    open market.
  • wyebirdwyebird Forumite
    755 Posts
    I understand about lodgers, would be nice if you could find a friend who needed a room.
    I have to phone mobiles a lot. Daughter at uni and parents who live on a canal boat! Have a contract phone from 3 for £17.50 a month which includes "any network" minutes(5 hours a month)and texts. Also have thought about skype phone, but as my parents are travelling they are only on line infrequently. Don't know whether any of those would be an option?
This discussion has been closed.