My partner gets 21,000 a year for now although this is likely to increase. I currently get £110 a week from a bursary for uni and my rent paid along with roughly £80 a week in child benefit and child tax credit for my baby. I get my rent paid as i count as a single parent as I live separately from my partner due to him working too far away from my flat. We are looking into buying a place but while we can borrow £110,000 we could only afford the repayments on £80,000. Luckily where we want to live houses are that price and so the mortgage would be around £350 a month. We would raise the deposit by parental help. Once we move I together I lose housing benefit but he would get working tax credit and so our income would be roughly 30,000 a year. Is this enough to love on with a mortgage without me working? I want to be a stay at home mum so if not I will need to stay in my flat for now so that our housing costs nothing.
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Is £30,000 enough to live on with a mortgage
25 replies
Laila362 · 17/12/2013 15:54
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