Finances??

[Beckamia]

My husband and I are looking at adopting. During the initial enquiries we've been told we're not able to adopt due to our finances. My husband and I both work and were in a small amount of debt. We have savings put by for future children. The lady said its because we don't own our house so have no assets? Has anyone else encountered something like this?

@Beckamia Hmm haven't heard that one before, that you do not own your own home. I know plenty of adopters who rent.
SW do like you to be in a reasonable situation financially I think, not too much debt etc. But we all live in the real world and most people have some kind of debt/ repayments. Maybe you should clarify this with the LA?

We have enquired with an agency and an LA, this was the agency so i'll see what the LA says about it. I thought it was very odd, as everywhere ive looked online says you can adopt if you rent.

Definitely check it out @Beckamia and let us know how you get on!

We rent and the only concern our LA had was that our lease was nearing the end so we got another years lease instead of just monthly, but it was never a financial issue

We were told renting is not a problem if it's a long term stable let i.e not monthly rolling contract.

We own our house but we have a car loan and they didn't seem fussed about that either.

I would definitely try LA.

I rent and had just a very small amount of savings and wasn't a problem at all during approval process (and hasn't been since I've adopted either). I'd push and question this. They shouldn't be suggesting that only people with assets can be good parents!

Thank you all for your messages. I'm relieved to here others have adopted when renting and limited savings. We are hoping to meet with the LA soon, hopefully that will go better. Thanks again for your support.

I had very little in savings, but my adoption leave package at work was very good, and I do own my home.
I think SWs might be more concerned about security of tenure, but its nonsense to suggest you can't adopt if you rent, I know a few adopters who do.
good luck

My home was an issue as it was a rental, however as mine was an in family situation it was overlooked, it might not have been otherwise. I was however required to have my own home or a longterm rental agreement before the adoption order would be granted. I only purchased in April so the order wasn’t granted until late June when my son had been with me for over two years.