To think there should be more help for middle class families

[RootinandTootin]

This isn't a hate mongering post, those on lower incomes and can't work should be helped. My issue is that there seems to be little to no support at all for middle class families. Myself and partner work 5 days a week and have 2 kids. Not a terrible wage so I can't complain about that but the energy cost, food bills and fuel are going to cripple us soon enough. We also have Christmas to think about and a couple of birthdays inbetween. I just feel so unbelievably stressed out all the time about it. I'm praying this all calms down by the end of next year when our mortgage is coming up to renewal. There is pretty much no help being offered to us (unless anyone has some hints). I can't see it getting any better and its pretty depressing, alongside other personal issues going on at the moment I just want to cry.

I’m not now. But I have owned 4 houses. So I have had mortgages.
You don’t have “nothing”.

Can I have some of the thrown around money?
Not a middle earner, paying a mortgage and bills etc on (depends on the month) between min wage and 25k by myself
Work FT, 40hrs a week

It can. Obviously you’ve never gotten to the brink. Count yourself lucky.

Lockdown is the essential problem. The worst government policy in living memory (apart from Brexit). And the bone-headed lockdown might have been a Tory policy, but the Labour party were salivating about it too.

I'm sorry that this doesn't help you, OP, but I'm in the same boat as you, and it's crap.

No you get a home equity loan/2nd mortgage. It only took me 3 weeks. I think most people can project out 3 weeks as to when they will run out of money.
Then if things don’t improve you calculate the point at which you put the house up for sale. Waiting for bank repossession results in a loss to the funds you can release.

You’ve obviously never had to do this. So stop telling me I don’t know…I have LIVED this!

We are middle income (top 10% apparently), our wages aren't keeping pace with inflation and now the tax cuts have been cancelled it seems more and more unfair. I would like them to redraw the entire budget, provide for health, education, defence, emergency service what is left can be used for the benefit bill (including pensions!!). I would rather give the triple lock to government employees everyone should have a private pension.

Stop over taxing and we might actually see some growth in the economy. Provide incentives for solar and ground source over more direct handouts as its sustainable in the long run. Mandate working 37 hours per week minimum.

Do you mean middle pay bracket ? Most middle class people I I know are on 150k plus salaries and are certainly not worrying about Christmas, or, if they can afford to go to Waitrose and buy smoked salmon.

Everyones situation is different. Don’t pretend you know what you are talking about because you don’t. Would love to know where all this moneys comming from.

Bold & true. There aren’t any 100% LTV loans anymore. And house prices have not dropped.

Right, and someone struggling financially is going to be able to get a second mortgage just like that. Presumably you didn't do this with little equity when rates were enormous?

Also, 3 weeks, wonder if you could survive not eating for three weeks? No. Didn't think so.

I very much doubt its true. Nobody at all in the UK is in negative equity. Who knew.

I haven’t been on a holiday for 4 years, drive a Fiat 500, my partner has a company car. I get my hair done probably 2 times a year (just a cut). I know what it’s like to struggle I did so for years with my eldest. Even now a knock at the door fills me with dread it’s a bailiff, even though I know it can’t be. I don’t need to be lectured. I worked and I have fortunately bettered my life. I do feel that it’s going backwards and that’s no fault of my own. I don’t believe I live above my means but we got the house before all of this and I don’t think most people plan for a pandemic and economic crisis. It’s true wages should go up but I fear that other countries can offer services/product cheaper because of this and I think that would potentially be a risk to British citizens . I don’t agree that those on benefits should have got a lump sum over covid when financially I can’t see how they would be effected (happy to be told I’m wrong). Something is very broken and I don’t see why we are all paying for it. Is it that awful to want to enjoy nice things? I might have not phrased myself well when I said about Christmas and birthdays but why shouldn’t I be able to spend some hard earned money on the kids. Instead of paying everythinf I have on just living. It’s depressing

I didn’t own them all at once FFS.
I’m not the one pretending.
You cannot pretend any homeowner TODAY is in poverty as it is defined.
Just not the case.

It absolutely is the case. Don't be so fucking ridiculous.

But I would be worse off if I sold my house
It would sell for a loss from when I bought it more than likely, and I can't remortgage

And instead of paying £385 mortgage I would be paying £600+ on rent. And there's no prospect of my wage increasing so then I would be pension age with no home and still having to pay £600+ on rent. There isn't many cheaper homes about unless I want to live in a really shitty area

I'm not saying I'm in poverty but I am saying it's a struggle to afford life on a single wage. I don't drink, smoke, haven't been abroad/holiday in 25 years, don't have sky, SIM only contract, 8 year old car...

As I say everyones situations different. However you are too shortsighted to know that.

I don’t think taxpayer subsidies should be there to help with “a nice meal out”, “Christmas”, “birthdays” and “savings”. All those things are nice to have and I would much prefer everyone had them but I don’t think we should take other people’s money to give them to you, that money should be for those really in need/improving public services like the NHS which is desperately in need/avoiding the inevitable spending cuts coming our way.

I did. They’re not hard to get because it’s a SECURED loan, against an asset. It’s not a personal plan. “Little equity” is still thousands of £ more money than a renter in actual poverty has.

You’re being really obtuse. When you are counting pennies, you know you will run out of money and about when. Projecting out 3 weeks of bills vs your bank balance doesn’t require a crystal ball.

Middle class will always be a precarious position to be in. They have more to lose than the working class, but unlike the upper class they don't have enough wealth and assets to fully protect them from economic changes

Whatever your situation is, if you own a home you are not in poverty. That’s not shortsighted, that is a fact.

Are you worried you might slip into the lower class bracket?

@Ireallycouldntthinkofagoodone "I couldn’t agree more. It’s quite frankly scandalous the way some feckless people are able to access benefits, while those who have been responsible all their lives receive no help. The former should be asked to account for what they have done with their money over the years!"

I hope your sarcasm has got lost in translation, otherwise what a godawful person you are to speak that way of people you will never meet nor understand. How intrusive would this be.....everyone is entitled to a private life and peaceful enjoyment of their possessions. The Government does not interfere in how it's citizens spend their income....regardless of source because that would be wrong. Every households circumstance is different and frankly it would be impossible to legislate for such an idea.

Would you care to share your salary, outgoings, debts etc so we can critique how you spend your money?

No love its not! Do fill me in wheres this money comming from. Would love to know. 🙄

They are hard to get. What planet are you on?

They are so much harder to get now because rates are high. How does somebody living paycheck to paycheck as it is, afford the extra mortgage payment? Riddle me that.

Does a bank give someone more money who is struggling to afford the original mortgage? No. They don't. Of course they don't.

A secured loan against your house is not like taking out a fucking credit card you'll pay £25 a month off for the next ten years. Don't belittle it.

Yes, you are struggling. And I’m glad you agree you are not currently in poverty.
The situation you describe is common and exactly why in a crisis, the house is the last thing to go, when you have no other choice. Because only then (after you live off the proceeds for awhile) can you get the UC housing benefit element to help on rent.