student single mum do I rent or mortgage?

[GemsAngels]

Im in a position where I have no clue which way to go, for the best.
Im going through a divorce and ex pays maintenance but no mortgage, so I use the maintenance to pay his half and I pay the other half. I rely on my student grants and his maintenance, until I work full time in 2 years.
Its tight and have no extas if I needed to do any repairs or anythin in the home, but its our home and its what me and my 3 dc have known for the last 10 years.
Im wondering if I should rent as I could probaably claim housing benefit, not all of it but some. Although rented is about 200 a month more than the mortgage, but I wont have any overheads. One day I wont be a student though and have to pay full rent, maybe claim very little hb.
Its a fresh start though. Its been 2 years of struggle trying to keep the house, but how do I know I wont struggle in rented.
I sound confusing I know. I just dont know what the bes thing o do is. I will probably only walk away with about 3-4 grand which will pay my debts but its not alot really. Then I worry about security of rened, but then Im relying on maintenance to pay the mortgage.
Oh dear am I making sense? Anyone been in the same situation and could advise, I would be very grateful!

I've not been in the same situation, but I'd hold on to the mortgage - you'll be better off in the long run, and mortgages are very very difficult to get hold of, if you start renting you might not get another mortgage.
We're renting, would love to have a mortgage but there's no chance atm even with two of us working and earning a reasonable wage.

Stick with the mortgage. Longer term, you'll be glad you did

Keep your mortgage going you will regret it if you sell and then struggle to pay rent. It is another 2 years that is all and it will fly by. In 2 years you won't be able to claim housing benefit if you're working and so you will have to pay a high rent on your own. I haven't sold up because rent is higher than my mortgage too and I am not entitled to housing benefit as I earn just over the threshold.

You will find it hard to get on the property ladder again plus it could take over a year to sell your house.

I have a huge mortgage but have kept it by getting a lodger no way am I letting go of my house. It it security for me and my DS. You never know when renting if they are going to sell up and you have to move again. Selling and moving costs are high as well aren't they?

Thankyou, thankyou and thankyou :)
This is what I wanted to hear deep down, my gut instinct was saying stay, even though I have things that need repair. Its our home. I wasnt sure if by struggling for 2 years I was doing the right thing for the dc. My ex has nothing to do with it and will walk away with probably 40% in 10 years but I guess at least we keep our home.
Yeah selling and moving is costly, I wouldnt walk away with much.
Thanks for making me feel better :)

I think it will be difficult in the short term but will probably pay off in the long run. I rented as a f/t student and as a LP I got 50% HB during term time and full HB over the holidays, which really helped. And of course all my repairs were covered by my landlord. But owning wasn't an option for me at the time and generally it's cheaper here to pay a mortgage than to rent.

I didnt realise it was that much passthepeas that would probably save me about 200 a month. Iv been on the phone to the job centre and all benefits are changing as from when my youngest is 5 in november so will be able to work a few hours around uni and that way in the lng run we will still have our home. I know having a landlord benefits as I have quite a few repairs, which I cant afford to do myself but hope in 2 years it will pay off and I can repair and make it a little more homely. Thanks for your advice :)

Do try and keep it. My home needs repairs but they can wait a few years. I rent out my spare room for £430 a month now and it means I don't struggle and I get on really well with my lodger. It is nice having an adult here to watch crap tele with when my DS has gone to bed oh and have a moan about the ex with. I doubt he will get 40% in 10 years if he is paying nothing now. Does the maintenance money go into a separate account and then you pay the mortgage? If not you need to or he could say he has been paying half the mortgage in years to come.

Thats a really good idea Happylander if I had the room, that would be a great idea but I have 3 dc and a very small 3 bed home.
I do get a bit lonely on the evening and when the girls are with their dad, if I had the room it would be quite nice actually. Iv actually thought about getting a little dog for company. Maybe one day :)
Im gonna try and keep it, you guys make sense and I feel happier knowing I can make that decision, the not knowing was awful, its been like this for a long time.

Forgot to say yeah, he pays me then I pay the mortgage!