dp says he’s leaving in 3 months no financial help during pandemic

[flopseyR72]

I feel like I can’t make a decision.
dp says he is going to move out of our rented flat in three months it’s 2k a month so I can’t really afford it own
I pay all my dc nursery fees myself already
I was going to buy a house before lockdown in Essex Greater London but now I’m really nervous about a house price crash and recession.
My dd needs to start school in September and has a place locally.
I thought would have moved by now but didn’t do anything during the lockdown
My job is secure nhs
I earn good salary
My dp and me need to split up I don’t like him and I’m not upset about it
I just don’t know what to do about buying moving or renting. I want to give my dp stability I have moved four times since dd 4 was born.
My dp says he can’t afford to give me anything as he’s going to rent himself
I feel really unsure.
What would you do. Buy now although economic recession is looming and local house prices are grossly inflated here or rent somewhere smaller

@flopseyR72

I am a high earner around 100k

How predictable

He’s on the tenancy and so is responsible for half of the bills and utilities. Don’t kick him out, because then it becomes harder to demand that he pays 50%. He can do that until the end of the contract, which gives you breathing space. File a CMS claim now, and work with a solicitor to get everything you’re entitled to. You can scrape by for a few months with no spare cash, lots of people do it. That gives you time to calmly work out what you want to do.

There are some cheaper areas in outer east London / Essex area that you could look at - if you mostly work from home and he isn't working, surely you could consider going somewhere slightly less upmarket?

Op , you should buy with care now so that you are settled in time for school in September.
Identify areas in easy distance to all the regular daily runs, school,nursery,work.rAssume you will be doing every on so plan accordingly.
Look very carefully at recent past sold prices,in your chosen areas, and aim to pay 10% less. This should insure against any equity drops.
There are some keen motivated sellers out there at the moment, so find a house suitable for the life you will be living for the next 5-10 years, don't overstretch yourself.

Mortgage rates are fantastically low so you should be able to get a 5 year fix for under 2% if you have a reasonable deposit, giving you security for the next 5 years....
by then any Covid/Brexit house instability will have largely passed and you can decide to remortgage ,and stay, rent it out or sell.
If you want security for your Dcs before Sept you need to start the ball rolling very soon...you sound a bit dithery but you need to make some decisions.

She will be a nhs board director or similar or work in the sales team. Ppl forget the nhs is a buissness and not everyone is poorly paid the buissness side is good and also may be a hr manager or similar

Move in with your mum hand notice in for job use your savings til u get a job

I had to sign up in defence of Loughton here

@Woobeedoo that story you reference with the car, the driver happened to end up here taking a wrong turning off the M11 and ending up on the retail park, literally the only reference to Loughton is they ended up here by complete chance.

We moved here 2 years ago from East London and its the safest, friendliest place we've ever lived. We couldn't have asked for a nicer area. Sure, it's expensive but I both blame and thank Gails and The Ginger pig for pushing up my house price.

Bad news makes the headlines once a year because nothing else of note happens here.

here you can see a house sold for 500k five years ago now listed for 800k wouldn’t that make you nervous

In the current circumstances, yes that would make me very nervous - especially around London where ridiculous property prices have been due an adjustment for quite a while

I completely get why you'd rather not rent, but surely for the next few months it would be the safest thing to do until you can see which way the market's going?

@flopseyR72

A mortgage would be cheaper yes. I am overthinking it I know. Maybe I should have said I don’t want to waist 2k on rent! I have two children in nursery so have been paying this all myself. And will have the council tax and all bills also on top. Plus food etc.

but on your takehome of around £5,500, 2k for rent, 800? for nursery? less probably as you work part time, that still leaves you, 2,700 ish to play with bills, etc, you're hardly on the bones of your arse are you?

I would stay put. You can afford that rent, and you don’t want to commit to the south east when in your heart of hearts, you’d rather be in Scotland. You’ll waste a lot more money buying twice in quick succession.

If you wfh do you need to be located in London? What is your maximum radius from where you need to be workwise?

Grufurlough, I agree. Loughton is a very nice, safe place. My cousin has lived there for years with no problems.

I'd rent somewhere new for a year - somewhere near where you plan to buy so it won't require a second upheaval in terms of kids nursery/school etc. I don't think prices will rise in the next year and may fall significantly. Get your bearings, see how house prices fare and get used to life as a single parent. Then, if you decide to move to Scotland at that point, you aren't tied to a house/mortgage and if you decide to buy near where you are, house prices will hopefully be at their lowest at that point. It does mean more house moves! But less risk IMO.

On 100k a year if you cannot afford to pay 2k for rent then you really need to look at your figures and work out where your money goes. Your well above the national average and a lot of people do it on a lot less.

Just because someone earns a decent salary doesn’t mean that it solves all their problems.

I don't think anyone is saying it does. I think many of us are surprised that someone can work part time, for the NHS, and earn £100k pa. If that's pro-rata pay for the OP's job, full time must be a lot more than that.

And TBH, the OP's writing style and grammar doesn't come across as being that of a high earner - and she's already said English is her mother tongue.

Some people are very judgmental about typos. I quickly typed it this morning when upset. Consider it like trying to talk when your really upset.

For all those who are questioning my position, I have 15 years of education and training. Two degrees and two professional postgraduate qualifications and I am not in management but healthcare.

I’m not claiming to be on the bread line obviously. It’s just a big stress to know wether to commit and buy or waste money in rent in the current climate. I think I have issues with decision making also as I ruminate things in my mind. Also being in a toxic relationship can undermine your confidence.

Thanks for the advice about Loughton above.

I’m also considering the Brentwood area, but I’m a bit nervous as I am not at all TOWIE.

Just wanted to add, CMS doesn't take into account income of the resident parent. He has to pay regardless of what you earn even if he has basically no income there is a min amount.

This went on today, that’s a great road and a lovely house for the money. I’d be calling if we were on the market

www.rightmove.co.uk/property-for-sale/property-68367990.html?utm_content=v2-ealertspropertyimage&utm_medium=email&utm_source=emailupdates&utm_campaign=emailupdatesinstant&utm_term=buying&sc_id=23853936&onetime_FromEmail=true&cid=60a147b3-2088-4eb9-b391-85dfe30a6819&csg=35fdcea1a17555b0502d76f0904343819f6840af790642cf0e4a27948590aa7c

Whatever they do, avoid taking any advice from estate agents. And especially on the housing market.

Also, to the people who say that property prices always go up more than they decline. Yup, they have done in the past. So in the future the odds are they're going to be going back down as people really don't have an infinite mortgage capacity. Plus there's the B mess coming up in January 2021 and the C mess still affecting the economy

Thanks, you know they bought that house for 585k in 2016 so I think 700k is too much!

I think it will be easier to think clearly once he has gone. Can you ask him to leave now, and if he wont can you get your name taken off the lease and rent yourself?

Also, have a look at places you can extend later to add value.

I think you could afford your rent if you live very frugally. There are some good programmes giving advice like Martin's money expert and extreme couponing. I think I would put off buying a house for a few months as people are predicting house price falls. You could try asking your landlord for a rent reduction if you are struggling.