mortgage!

[ac97x]

right just looking for a bit of advise.
i am a single parent to my baby boy and i live in a one bedroom flat. i was very lucky to have deposit money to buy it before i got pregnant. i bought the flat for £80k and my deposit was £30k.
however now i am not working as on maternity leave and i am unable to go back to the job i had before, and i have no idea what i'm going to do yet as i have no child care or support..
but my question is, i really want to move and get a 2 bed place so my boy can have his own room but could i get a mortgage if i sold my flat even though i don't have a job? i am currently on tax credits and child benefit. or would it be better to sell my flat and rent?
has anybody been in this situation or have any advise for me? i am stressing!!
thanks x

OP I really would say that housing security is far more valuable to your child than extra space. If I were you I'd be doing my utmost to manage in the 1 bed flat for a couple more years. You may well have more options by then (e.g. 30 hours free childcare).

I know it's not easy with such limited space, but it feels likely to be far preferable to putting yourself into a more perilous financial position. Best of luck though with whatever you decide.

Not ideal but you could consider a pull out sofabed for you in the living room and giving your son the bedroom. That may buy you time to sort things out.

My aunt and her daughter lived in a one bed flat for 10 years. It is possible to make do.

DP and i rent. I would 100% swap renting our 3 bed for a bought 1 bed flat (unfortunately, my credit is awful). Home security is so important, I think you should stay where you are until your job situation and childcare are sorted.

I don't think anyone has been harsh. It's an absolute fact that you won't get a mortgage without a job.

So you have 2 choices:

1. Get a job
2. Make do.

You don’t need to have been working for 6 months to apply for a mortgage in fact most companies now allow you a mortgage as long as your job starts within 3 months and you have a contract signed stating this.

Tax credits and maintenance can be included on an application (though most companies will only include maintenance if it is court ordered, some do accept it as long as it shows on bank statements)

To be approved you need to have a guaranteed income ie salary or pension and the xxx times salary is now outdated, outgoings such as dependents and current credit commitments play a big part in the affordability assessment.

I would look for new employment and sit tight in your home for now, get some savings behind you so you can borrow less, and see a broker or IFA before applying or at least do affordability calculations yourself online before credit searching yourself when the time comes. (Mortgage advisor)