What would you do- housing?

[user1461609321]

Hi everyone

I really need some advice people as this issue has just been going around my mind for the longest time!

Issue is we are a family of four in a one bed flat in central location. Husband and I on a sofa bed in living room, boys share the one room

Have in the past unsuccessfully applied for council property due to overcrowding, but wasn't added to council register as council said we are not over crowded

Tried purchasing the flat through right to Aquire, no success as didn't get property from council

Trying to look into 2 bed flat through shared ownership but credit not great and they seem to want me to jump through many hoops- last year managed to sake 5k so just enough for minimum share on some 2 bed flats in the area

Just feeling really frustrated at the moment as children are getting older and despite working hard, cannot believe that I am in this situation!!!

The flat is comfortable for now, neighbors friendly, rent at reduced rate and building clean so Day to day no issues here but my main problems are:

1. I feel ashamed of where I live eg fifth floor and flat obviously too small

1. I don't feel settled as know we are still not in forever home and children are nearing middle of primary school

1. The area is multi cultural which I like, convenient for access to shops, work and kids lovely school but very busy, not overly residential with lots of young men hanging about outside betting/ chicken shop and smoking cannabis- I am scared of boys growing up in such an area and normalising this/ getting in with a bad crowd when older or being hurt by others when older if out and about in local area

1. Silly thing really but after denying myself of so much last year to save £5k, I want to do something worthwhile with the money quickly regarding my housing situation as scared that something unexpected will happen causing me to use the money for that instead and then I will be back to square one

I don't want the cost and uncertainty of private rent but have this nervous unsettled feeling in my stomach and constantly worry about my children's future in the area, you hear of stabbings so much on tv I guess I am becoming so paranoid for my children's safety

So please my lovely people, I need an outside perspective on what others would do in my situation to either make the most of current situation or improve upon it

Bump- someone please help

I think you need to move further out to a cheaper and perhaps quieter area.

I will begin to look into this option but finally found a job I love and kids are so settled in their school

Bumping shamelessly

I can understand, most areas in London are like this, even greater London, unless you're a millionaire.

You probably would have a better chance if you moved further out of London, but crime has gone up everywhere thanks Teresa May

Try not to feel ashamed, you are doing your best for the future, saving and things will get better. I would try the Council again as you are clearly overcrowded, if they still say no, try to speak with your local mp or Councillor or maybe try Citizens advice for information.

Here is a link to affordable home ownership Government scheme. www.gov.uk/affordable-home-ownership-schemes
and more info here
www.moneysupermarket.com/mortgages/first-time-buyers/shared-ownership-schemes/

Hope it works out soon for you. xx

You could contact your local housing associations as they have some homes which are Intermediate Rent and therefore sit outside the housing register. You may need to demonstrate that you are able to afford the rent at higher than local housing allowance rates.

For shared ownership - it may be it was the property you were looking at that was causing the issue. All but 4 of the retail banks now offer shared ownership mortgages, but they may not want to be over exposed on any one scheme. Also look at the lease that is being offered - if it includes a local occupancy clause or no mortgagee in possession clause the banks are less likely to lend on the property. There are specialist mortgage brokers who can help you through this.

Where abouts in London ? South ? North ?

I think you need to move area. In the nicest way is clearly not an area you can afford and living in a one bedroom flat will not be sustainable as the kids get older.

What do you and partner do for work? Could you get a job in a different area? Or as you are currently central can you commute to your current job? I work in a very central location 99%of people commute in.

You might want to look at moving areas altogether. If you could save another £5k you would prob have an ok deposit to look to buy in quite a few areas round the country. Have a time frame to do this before secondary school

Hi everyone

I continue to save as hoping to also consider help to buy government scheme

I am in south London and just want to do the best for my kids but feel like I continue to face barriers all around

Honestly , I’d completely move areas . I wouldn’t want my children to grow up in an area like that just because it’s London . It sounds dreadful .

I would definitely move further out to an area where you could get more space and feel more safe. If you can find a rental where you could save towards a deposit that would be great surely.

Moving out of London is starting to look like my best option, it's sad because I earn ok, but it's hard to rent and also save a significant deposit when you have small children

Is your deposit in a help to buy ISA?

I’d move to Sheffield or Leeds. Honestly, we’re so rubbish with change in this country. (Not a dig at u op). Your home is so important. Or wales.

Deposit was in help to buy isa but took it out and closed the account as didn't really understand the scheme, will open a new help to buy isa in April

Moving outside of London may well be your best bet. I know it's hard to move the kids when they're settled but it'll be way easier to move them in primary school than when they're in high school.

You're almost in a better position if you're not too set on living in any one place - just search the country for jobs that sound good and see where you end up. I guarantee it'll be cheaper than London.

Yes I really do struggle with change, I like how multi cultural the area is and scared to loose this, but hate the other stuff

Have you looked at areas like Dartford Bromley Orpington Bexleyheath? Bit further out but train are good

What about London Borough of Bromley as Silky suggests. 2 bed shared ownership here in catchment for great secondaries and primaries, good trains to central London. www.zoopla.co.uk/new-homes/details/49517104?search_identifier=b0395720e3021c6d69f2b9dd34d539bb - deposit is just under £5k so maybe within reach for you?

London is like that in an awful lot of Boroughs. I'm in North London & tho my quiet side street & and those round it is very 'family' /safe, the main High St isn't good after 8pm: guys outside chicken shops pestering women etc. A colleague has just moved out to Chingford & says its way cheaper & safer. Maybe Google it?

www.sharetobuy.com/shared-ownership-london/ please have a careful look round this website - it will explain how much deposit you need & costs - when looking at the lists of available houses/flats you will see that they state categories for people they prefer ie where do you live/work - they will tall you percentage you are buying how much additional rent & charges if you see something you need to go on site & log on to be able to book (? cant think of word brain freeze!) ask to be considered as a buyer & view property they are housing association - there are for & against but it maybe a way of getting into a bigger property that you can afford in the area you want - be choosey! & work out your monthly cost figures!

Thank you everyone, would love to live in Bromley as this is a neighbouring borough with good secondary schools and a better reputation, definitely will start looking into it