how the hell do you afford it?!!!

[needsomeinfo]

Please tell me how (if you did) you afforded a home of your own? DP and I are splitting up, own our home and have agreed to split the equity (about 60k each). I earn around 10k a year and can not see how I can buy a property on this? I live in the south east? how do you go about shared ownership etc? I am so confused, heart broken and desperatly sad he has chosen this for our children.
we have everything, but seems its not enough

You can go on the shared ownership list through your local council, i would phone them & see what they say tell them your position.

I bought my house about 8 years ago on my own and xh moved in then was kiked out again and he wasn't in long enough to be entitled to any of it.
I afforded it because it was £27K but prices have risen so much I couldn't do it now (95K ish for a similar one)
I earn about 10-11K and can pay a 40K morgage on it so you could prob get up to 100K.No idea how much you pay for a house in the south-east but guess its more than that
Any chance of moving? NO idea about shared ownership sorry.

If you have a lot of equity you can borrow more than 3 times your salary but then it depends what you can afford to pay a month. Is there no way you can stay in your maritial home? Is the only way to sell it? I would speak to your solicitor for advice on this.

Shared ownerships are run by housing associations - your local council will give you a list.

It is impossible these days for lone parents to afford their own houses. Prices are such that you just can't do it alone.
It's the same for people wanting to move out of home on one salary and first time buyers with no equity.
It is a sad and ridiculous state of affairs that makes me so and of those who own.

60K deposit (unless you actually need to use the money for something else?) + 30-40K should get a shared ownership surely?

What sort of house/flat do you need?How much do they usually go for where you want to live?

Google shared ownership and you will get plenty of info. Get yourself on a list asap - you can apply online etc. Also phone the council and see what the situation would be re: council housing. But it's an impossible situation atm in the south-east. Prices are beyond belief.

I have almost no hope of buying a property in my area on my salary, not even the tiniest two-bed flat. (Renting is almost as bad. A friend has offered to let me rent her flat but even that will be a terrific stretch financially.) I would actually be entitled to key-worker housing from next year - but even that looks unattainable on a single salary. You have my sympathy, fwiw.

get onto the Housing Options website and register there.

also, register with your local area council/gov website. they should have a page listing housing options in your area.

whereabouts in teh SE are you?

I am about to sell my housing association property in SE London as I know want to live on the other side of town.

there is some property around for about 150k which i could afford as i will have about 30k deposit. but it's high rise single mother hell tbh.

i will more than likely go back down the shared ownership route altho it's not what i really want.

you have to factor in the mortgage repayments and the rent on the portion you don't own. outgoings on my current place are about £900pcm which would amount to a bloody decent mortgage but only half of that is my mortgage.

obviously the more share you buy the less you rent and that's reflected in what you pay mortgage/rent wise.

there are very few lenders in teh uk who offer mortgages on shared ownership and they're generally not particularly good deals either.

homebuy is another option, you find an open market property. raise a mortgage on 75% and get a gov loan for 25% in a nutshell.

affordable housing is an oxymoron. they build for keyworkers except they're not family oriented properties.

i know quite few keyworkers and they're either young, free and single so don't want to get into property yet, or they're in relationships with private sector partners which pushes them over the salary limts that apply.

it's a joke!

i'm not a key worker and technically should have a well paid job in the private sector but I'm only part time as that's the life/work balance i have chosen.

i could take up the extra days but my daughter already suffers with an absent father as it is.

CAT me if you'd like more info......