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PostPosted: Tue Jun 18, 2013 1:55 pm 
Retro Guru
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Joined: Thu May 03, 2012 7:13 pm
Posts: 2574
Location: The Cock Inn, Tillett, Herts
I dont give a monkeys what I do at work, so long as I'm happy. Often those who get sniffy are those lower down on the totem than they would have you think.

I got a job that doesn't make any use whatsover of my Masters, and doubt I ever would - bottom line is work fills bellies and keeps roof's over heads. Anyone who thinks its anything to do with social standing etc is either very wealthy and probably doesn't need to work anyway, or a pompous chump.


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PostPosted: Tue Jun 18, 2013 6:02 pm 
Old School Grand Master
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Joined: Fri May 01, 2009 7:11 pm
Posts: 8479
Location: Fircombe.
[quote="02gf74"

.... but it is not all doom and gloom - the house on the market when sold will cover the debt and mortgage and leave around £ 100 k. I could chip in an amount but that money is struggling to buy a single bed flat, let alone a 2 bed - the other bed would be needed to be rented out to pay for a small mortgage she could tkae out - so maybe it is doable. In my opinion, this is the only way out - sell before the mortgage company take the house. I have no idea about the process or how quickly it happens but I would expect the company will sell the house as quickly and as cheaply as possible, as well as penalties, fees etc so she will get much less than if she preempts the situation by selling it herself.

I have arranged meeting with a financial adviser re: remortgaging but expect he will say the above.

I will arrange meeting with CAB too.

re: jobs - there is a stigma attached to applying for jobs that are below her experience/skills, it is natural that nobody would want to do a job that is "beneath them". I do not know what jobs she has applied but she has got to get something pretty soon to stay in her house.[/quote]

If she's left with £100k after selling the house and clearing her debts it really is a no brainer, isn't it? :roll:
So what if it won't buy a broom cupboard? It's a very healthy deposit to put down on somewhere once she's got a job, and without a job she has no chance of re-mortgaging...
You're thinking of helping her financially?
You mug!


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PostPosted: Tue Jun 18, 2013 6:18 pm 
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Joined: Wed Apr 12, 2006 12:33 pm
Posts: 11108
Location: The Home Of Mountain Biking, And All Great Things.
I hope she is not getting benefits with 100k equity in a property.


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PostPosted: Tue Jun 18, 2013 7:04 pm 
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Joined: Fri Mar 25, 2011 7:48 pm
Posts: 1667
Location: Glasgow
highlandsflyer wrote:
I hope she is not getting benefits with 100k equity in a property.

She will do. A friend had a good amount in his and when he was made redundant they paid 2/3 of his mortgage and got JSA. They did query the amount of cash he had in the bank (and by query I mean dragged him in for an investigation!), fortunately he had the sense to transfer his share portfolio into another name before they found that as well.

It's a fncking crime that if you have over £16k (iirc) in assets they want you to pay for yourself. Those who have saved fnck all get the lot and those who put away have to spend their nest egg before they give anything out. Those being the same people who are taxed multiple times so the dafties get their easy money.

Sell the house. My friend just bought a 2 bed flat in Ayr for £21k. A week of work and it's home reported at £45k. Job done. It's no palace but when you're in a hole stop digging.


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PostPosted: Tue Jun 18, 2013 7:40 pm 
retrobike rider
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Joined: Sun Nov 14, 2010 8:21 pm
Posts: 636
Location: Ripon
FluffyChicken wrote:
Sell up and move somewhere much cheaper ?

if she sells up;will she even be able to rent a place?
no dhs no pets no smokers;;;;;;;;;;loads of other conditions
best of luck to any one in dept;not quiet been there but saild close by


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PostPosted: Tue Jun 18, 2013 8:10 pm 
Old School Grand Master
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Joined: Fri May 01, 2009 7:11 pm
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Location: Fircombe.
technodup wrote:
It's a fncking crime that if you have over £16k (iirc) in assets they want you to pay for yourself. Those who have saved fnck all get the lot and those who put away have to spend their nest egg before they give anything out. Those being the same people who are taxed multiple times so the dafties get their easy money.

.


£25,000 in Scotland, IIRC, £17,000 in the rest of the UK... :xmas-wink:


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PostPosted: Tue Jun 18, 2013 8:19 pm 
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Joined: Mon Jun 14, 2010 9:06 pm
Posts: 4449
Location: Herts UK
kenaltobelli wrote:
if she sells up;will she even be able to rent a place?
no dhs no pets no smokers;;;;;;;;;;loads of other conditions
best of luck to any one in dept;not quiet been there but saild close by



if my sums are correct, she ends up with 100 k so should be able to buy a 1 or 2 bed flat, ideally 2 since 1 room could be let. renting a place is something you should onlky do if you canot afford to buy your own.


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PostPosted: Tue Jun 18, 2013 8:28 pm 
Retro Guru
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Joined: Fri Mar 25, 2011 7:48 pm
Posts: 1667
Location: Glasgow
suburbanreuben wrote:
technodup wrote:
It's a fncking crime that if you have over £16k (iirc) in assets they want you to pay for yourself. Those who have saved fnck all get the lot and those who put away have to spend their nest egg before they give anything out. Those being the same people who are taxed multiple times so the dafties get their easy money.

.


£25,000 in Scotland, IIRC, £17,000 in the rest of the UK... :xmas-wink:

Work and Pensions isn't devolved so I can't see why there would be any difference. And I'm sure 'my friend' would have been just as pissed off if it was £25k.

Offshore and out of sight FTW. Stick your tax grab Mr Cameron.


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PostPosted: Tue Jun 18, 2013 8:31 pm 
Retro Guru
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Joined: Fri Mar 25, 2011 7:48 pm
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Location: Glasgow
02gf74 wrote:
renting a place is something you should onlky do if you canot afford to buy your own.
Not necessarily. If values are dropping it makes perfect sense to rent until the market is more conducive to buying. Short selling houses is no different to anything else.

Not that that is particularly helpful in the case in point.


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PostPosted: Tue Jun 18, 2013 8:34 pm 
retrobike rider / Gold Trader
retrobike rider / Gold Trader
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Joined: Fri Oct 10, 2008 8:44 pm
Posts: 3584
Location: Wherever it is, I'm being just that little bit more Lance
Isaac_AG wrote:
:shock: oooh you are severe aren't you?


So is a situation like this.

Whist Chopper is spot on there is a well know phrase about horses and stable doors.


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