How are single mothers in this situation meant to live.

[pinkbubbleandcandyfloss]

I work full time and earn £40k
I am very lucky and have a tiny flat that I rent out (I have tried to sell but it won't move), because of this I am entitled to zero help from the government. This brings in £1100 but most of it is eaten up with paying the mortgage on it.

My rent alone for a two bedroom place is £1300, gas and elec £250 a month, council tax £140 + mortgage on flat around £700 a month. (This is buy to let interest only)! I then have to pay over £1k on nursery, which I can only do because my parents help me!
In all honesty I feel in such a helpless situation. I try and work freelance in the evening to bring in a little extra money and my ex pays what he has to £350. I work bloody hard and have nothing to show for it.

Sorry not sure of the point of this post, but why are our electricity bills allowed to go up again? It's actually hard to live a modest but nice life in the south east unless you're with a partner and earn mega bucks!

It feels if you live in the South East, as a single, working parent you need to be on at least £80k to live.

I don’t have childcare costs now as they’re at school, but when I did, I didn’t get 85% of costs paid.
This time next year you’ll be £1000 better off, and it’ll make such a difference.

@westisbest1982 thanks for helpful advice! I don't want to raise too much as they're good tenants but a small increase might happen

Shouldn’t you get tax credit on the entire interest only portion, as you’re not a higher rate tax payer?

@Mostunexpected no, not that I know of annoyingly! But I will double check in case I've been doing it all wrong thank you for flagging xxx

Maybe link the flat in here or property and people can give ideas why it iisnt selling

Esp if south east. Property usually goes quick

I would either auction the flat or move into it.

I managed because I had help with nursery fees. I didn't get anything from. Ex. And had two to put through nursery. But because I didn't have an investment flat the govt helped me.

I don’t really understand the assumption that the state (ie the rest of us) should support you. I completely agree that fathers shouldn’t be allowed to swan off into the sunset but the state should only be there as a safety net to stop you hitting rock bottom.

Can you move into the flat short term, while you sell it? That would give you a brief respite from paying rent and mean you haven't got the flat empty/ costing you a fortune while you market it? Once it's sold you & your child will be in school you should be in a much better position.

It absolutely sucks that men can just walk away from the responsibility of a child, make a token financial contribution and give up a few days a week / month while you juggle everything else 24/7 and absorb all the additional child care costs. I think CM payments are calculated all wrong, it should start from an hourly rate for child care for every hour they don't have their child (over 50/50) and then have a food/ clothes/ expenses amount added to that.

My flat is not an investment flat! I don't own two properties. I rent my other one. I'm not asking for huge handouts or that the state supports me! Just the ironic thing, if I lived in a mortgaged property I would receive help. I was just flagging how insanely expensive this country is to live in and unless you live with a partner or earn a lot of money, it is hard to live as a single parent without any help from the state! I don't want to rub anyone up the wrong way, that wasn't my intention!

Thanks for the helpful comments, a few great things to think about. Enjoy the rest of your weeks xx

It makes absolutely no sense to rent a flat whilst you already own one that’s being rented out if you’re strapped for cash. Even if it’s only got 1 bedroom.
Move into the smaller flat, change the mortgage to a regular one, you’ll get assistance with nursery fees, might also get some UC. You really can’t complain when you have an asset sitting there.

@Soontobe60 the flat that I own is over an hour and half away. I moved to where I am now with my ex and my daughter's life is set up here. I won't be moving back to the flat.

@Soontobe60 and won't complain again! Thanks for flagging xxx

https://www.gov.uk/marriage-allowance

that’s the marriage tax allowance for everyone.

I agree op - you’re in a difficult situation. It’s a bit ridiculous for people to tell you you’re fortunate to own a flat when you can’t sell it, too far away for you to live in and it stops you getting help with childcare etc. not exactly fortunate in my book.

The child maintenance regime is a mess. CM levels are too low. Self employed fathers get away with even more. So I'm all for reform there.

However, it's untrue that married people get tax breaks.

Expecting income or housing subsidies when you have a rental flat in the background is insane.

Even I, and I'm really very left wing about benefits and welfare, would never support that. So it must be insanely grabby.

It is difficult but you need to sell the flat ASAP or live in it.

Or increase the rent so it's actually profitable.

You cant claim any of it back anymore

@User6874356 thank you for your understanding! I didn't come here to demand benefits!! Simply saying how are people expected to live as single parents in my situation. Just a rant really but I'll wait until next year and try and sell again! Thanks for the kind words! Xxx

Can you go 50:50 with your ex so some of your costs are reduced?

This. Your electricity bill sounds extortionate.

I'd mark down the flat as low as possible and auction it off with tenant in situ if you can - to be bought by another LL? Something drastic to get the albatross off you.

NRTFT.

You're not paying tax on your mortgage repayments, you're paying tax on the rental income.

@Biggaybear I guess because the rental pays the mortgage I see it as that! But technically no I'm not!

Ok so nursery gives free hours from age two now if I'm right, or is that still to come? Then if you are working more from age 3 they get or did get 30 hrs free a week, so then you only need to top up on those free hours.
Not sure of the threshold but you might be able to claim what was child tax credit, which they have just moved over to Universal Credit now. To help with fees.

With your electricity you might want to check that out to make sure it's ok. And see if you can change your tariff or do direct debit unless you already do that.
Possibly even check out other providers prices.
I have a two bed flat that is very cold and no insulation, gaps etc, bad doors.
And my gas and electricity together doesn't come to that.

Hey

Firstly well done - youve kept a property, two careers, and managinf your child alone. Not easy. Age 1-4 is hardest and most expensive bit. I was up to neck in debt at this stage. Keeping career going is main priority. I had 3 kids in 4yrs

My advice:

• its a countdown to school age now, you have 14(?)months left of high costs. After this period, after school is cheaper in comparison & the biggest hit in childcare will be Easter (2 weeks) and August (4 weeks, a killer cost wise).

• dont sell your assets

• its a bit depressing but perhaps advertise to earn more money for this 14m eg babysitting (if your parents can cover your child); weekend childcare help while u also have daughter; bar/ cafe work on a Sat eve if your parents will have child.

• make plans from schl age to motivate you eg holidays from then onwards. Keep going

• life as a single person is v expnesive. Im a high earner now but would struggle without DH. Start dating or dont close the door ... life is easier financially shared

Good luck