My girlfriend & I recently decided to end our relationship of 6 years. I am 39 years old and desperate to settle down (property wise). We had been saving and looking for a property. As I suddenly find myself single again I cannot afford to take out a mortgage on my own. It appears that I do not meet the County Councils single income criteria for affordable housing (I'm about 4 grand short). Is there any flexibility with their criteria or am I really in the mess I feel that I am in. I am living in a rented property in an area zoned for development which is up for sale.
I'm really stressed and any advice would be much appreciated.
Brendan
Why are you stressed? Is it Because you can't get on the property ladder? why would you want to do that my friend? Haven't you realised that owing your own home is a scam, least of all when it comes to affordable housing?
Think about it. When you buy your own home you have to:
- Spend a fortune paying back the mortgage
- Spend a fortune paying a massive amount in taxes to the government
- Spend a fortune for all the administrative and legal costs to get your mortgage in the first place
- Spend a fortune on doing it up
- Spend a fortune on utility bills
- Spend a fortune on home insurance
- Spend a fortune on mortgage protection
- Spend a fortune on maintenance
- Spend a fortune on the interest on your mortgage
- Spend a fortune on petrol/diesel travelling to work as you'll probably get an affordable home miles from your work
- Spend a fortune on the wear and tear on your car.
- Spend a fortune dealing with the neighbours form hell and can't sell.
- If you do sell too early and your in negative equity you will be penalised twice. Once by the fact your in negative equity and then by claw back.
- You then die just as you've made your last payment, and the relatives get most of the monies from the sale while the tax man gets another chunk in most cases.
What a scam!!!!!
Stick to renting.