Has anyone else had a cry in their kitchen this week?

[AngelicaElizaAndPeggy]

Just feeling so alone, really.

Our mortgage runs out next September, my job has changed and I get £500 less a month and I just feel like everything is spiralling.

I shouted at my kids this morning for being so slow at getting their bikes out for school - this time last year we still had a car and could afford to drive. Everything has just become awful and I don't know what to do. Hence crying in my kitchen for a bit.

The thing is, we were quite comfortable before and this has all been quite sudden. How desperate must things be for people who are already struggling.

I'm sorry things are hard for you, it is so difficult to imagine what lies ahead. We rent now, and escaping from a massive mortgage has changed our lives, even though the negative equity will have to be resolved, somehow. Is waiting for a better mortgage deal possible? 🤗

We could. I think in all honesty we will have to sell our house if thi hs stay this bad. Our mortgage isn't enormous but we can't absorb costs as it is let alone with a 6% rate or whatever it will be.

So glad things are a bit better for you now, I hope some of that good fortune will rub off on us soon. Good luck with sorting out the negative equity situation 💐

You're not alone - I feel the same, and I think my friends and acquaintances must be feeling it too, but it seems like no one wants to talk about it. I appreciate we don't know yet how tough things will get and how we will be affected individually, but I wish I could have a real life conversation about the weight of the worry and the effects of the anxiety.

I’m sorry. Things have to change.

Thank you for the flowers, OP 😃
I imagine once the house is sold (which shows no signs of happening, even though we surrendered it for voluntary repossession) we will seek help from Step Change to repay as much as we can on an IVA for 6 years. I light a candle and listen to music in my kitchen, a mug of tea always helps, and maybe some cake. As others have said, it doesn't feel like people are open about how hard this feels in real life, but please know that you're not alone. Take care.🍰

I hear you. I am going part time from December (currently on maternity) so will see an £8k drop in salary, childcare costs that didn't exist before (first baby), a mortgage that needs renewing November 2023 from current rate of 1.89% to 5-6% (or whatever it may be by then) and cost of living increases!

I can't rely on overtime as it's not always available in my work but if it is I'll have no choice but to grab it with both hands.

It doesn't help that my dad keeps ringing me telling me how stupid i was to stretch myself financially mortgage wise in order to purchase our house🙄.

We have no other debts (credit cards/overdrafts etc) so i suppose that's something

op that’s tough, you have a bit of time though before next September

What happened with your job? Could you make any moves there

I hear you op. I have had a cry in the kitchen, my car and the loo at work this week. Had just gotten over the worry of the gas and electricity costs after working out what to cut back on etc and now the total fear of the mortgage fix coming to an end next year. It’s never ending!

Could you get evening work, take lodger, remortgage over a longer period? Do you have a partner and if so can they do weekend work?

I totally know the feeling. I've had so much stress from different things lately I don't know how much more I can take. I really can't see how the government can expect peoples finances to cope with so many price rises. We are a matter of a few years away from being mortgage free and £1300 per month better off. I don't want to give up just yet and throw away everything we've worked hard for over the years.

OP have you got anything you could give up or change to try to absorb the extra mortgage payments?

At this point am thinking of starting an only fans or selling my used smalls on those fetish sites

It's scary isn't it? We have been struggling for the last two years. I had to give up my job to care for my disabled middle child.

Anyway, we had to sell up and move into rented.

For us, the interest rates mean that our equity will earn ok interest for the next 3/4 years when we hope to get back into the housing ladder.

Just thought it might be helpful to "know" what the worst case scenario could look like. I was terrified of loosing our home and used to get moments of pure panic on a daily basis.

I got a parking ticket and sobbed like a baby when I paid it on the automated call system. Just utterly gutting to waste money like that.

My gas price increases by 56.3% tomorrow. My electricity goes up 32% next week. Today I sat in my kitchen and cried and cried.

You are not alone @AngelicaElizaAndPeggy.

We have just moved from an old rented farmhouse so our fuel bills have actually reduced (house is half the size) but if we had stayed our rent would have increased from £1275 to £1800 per month. No one is facing such a mortgage increase

I’m currently having a little cry in the bath - we are trying to move and now have realised that I probably won’t be able to and I’m presuming if we pull out now I will still have to pay the solicitor bill which feels like such a waste of money now. I’m definitely in a better position than some but just feel so scared about potential job losses along with rising bills I’m just not sure how we would manage

We currently are good, fixed prices for both mortgage and energy till December 2023. If this isn’t sorted by then. We are going to have to sell one of our cars and move. We are comfortable now. But these two going up alone at the future possible rates would mean we have not enough left at the end of the day for anything.
I was laying in bed last night feeling really sick thinking about it. After years of struggling we were finally at a place where we actually had some spending money. Not much. But some. That will be taken away and actually we will be worse off than we were all this years ago.

Just found out that our non-selling house's price has been slashed by another £10000 and that having worked out what our projected energy bill could be at current prices, I can't bring myself to alter the projection with tomorrow's increased prices. It's only October, there's nothing else to cut back on. I've distracted myself by making dog-walking posters to put up in town. There won't be enough dogs to repay negative equity of nearly £90000.There probably won't even be enough to pay for the bills now.🐶

The most frustrating thing is I’ve been doing this for years on and off to get by and the market is now saturated. Plus with brexit you can’t ship used underwear as easily or cheaply, I used to have a lot of French customers. I used to make £1k a month for meh effort, the whole of September I made £70.

How have you ended up with £90k neg eq in this market? Expensive flat with cladding issues?

People have to calm down a bit. I have heard terrible decisions being made in the last days a panic rush. I myself included changed for my holiday money and now the pound is back up. Many things can happened in a year.

We both have good jobs and are fixed for a while yet but are panicking also. It just seems so bleak. My pay review is in Feb and I doubt very much I’ll be getting a coat of living increase (whilst the bosses at work buy yet another Aston or blow another 30k on a holiday….).

We took on a large mortgage earlier this year and have 2 DC under 5 so large nursery fees.

I am a worrier by nature and it just feels like our government are failing us. Truss has absolutely not a scooby. Just hoping and praying that they get her out and bring Rishi in - he totally saw this coming

Ah OP I'm so sorry you're having a tough time. I find speaking to people who are older and have seen these types of times before quite comforting. They describe how it felt, how they coped and got through it - often i find it gives me hope x

We no longer have a mortgage ( thank god) but I nearly cried this week when I saw that we have to pay just over 5k by early Jan for ds's Uni accomodation. We are not high earners and have another younger child but the amount of maintenance loan he has been awarded is just about enough to give him enough to live off with nothing much available towards the accomodation. How on earth do they expect parents to pay this ? We have tried hard to save for our kids from birth but what we have saved is just a drop in the ocean when faced with costs like this. DS knows he will need to find a part time job but it will not make much of an impact. DD was hoping to go to Uni next year too but is looking at having to take a gap year.

rural, needs doing up and no interest -eats money as v.old and no central heating 😐