Trying to find a home while pregnant before baby is born

[xxxIntergalacticxxx]

I’m not sure what I expected when I decided to get pregnant without actually having a suitable place to live beforehand. Myself and my partner both work and are in a very stable and happy relationship. We have enough money for a very large deposit on a modest flat, but we were turned down for a mortgage despite being well able to afford it, because of a technicality in employment category. Our broker is trying again but I’m in limbo feeling like it might not happen, and we’ll be stuck living in my old bedroom at my parents house for another year, until circumstances change and we try again for another mortgage. But with a baby due soon, I’m not sure how much my parents will appreciate crying through the night for 9 months or so, before we’re financially able to move out. I don’t think renting is a good idea as rents are much higher than mortgages and it would be like throwing money away when really we want to have money for the baby. I’ve been trying to come up with alternatives in my mind, but having lived for the last decade in an “alternative” way, I now want a normal place to raise a baby in comfort and with adequate facilities. It all just seems so silly that we’ve got a huge chunk of money to use but the economy is such that it doesn’t go very far, yet if we emigrated we’d be fine (emigration currently not an option). I know we are luckier than many people as there are so many now without work and with no savings due to Covid. I went through similar in 2008 so can empathise, but I can also say it does get better and in the future there is hope to get back onto the path you thought you’d be on. But my own steady employment now does not help me with the current housing predicament! Are there other pregnant women out there going through the same?

[quote eternalflame2020]@kirinm We are both self employed. Our broker said that all self employed people are being asked for extra checks including the last 6 month's of business bank statements which will be scrutinised and of any doubt mortgage will be declined.

However if one of your is employed then I suppose it depends which of you is bringing in the higher income and will based on your personal circumstances. I would really recommend a broker with any application involving a self employed person![/quote]
Yeah we've always gone via a broker. Too much hassle otherwise. Eeeesh hope this is all temporary.

@xxxIntergalacticxxx

If it is going to be at least a year until your DP is on regular hours, you could be looking at the best part of 18 months before you buy. Can you cope with living in one room for 18 months?

It really depends on how you find your living situation and what your parents think of it.

I know it’s not as comfortable but I’d hate to spend a deposit meant for a mortgage on rent. You know better than us on how you’d feel living for a year in your current situation. Some people would go crazy with their parents, others might find it ok.

I’m not in the exact same situation as you but may end up at parents with baby. We currently have a flat but wish to move out the city to a house. We’re seeing how difficult it is to get a place. And are considering selling this place then looking for another as places are selling so fast that we need to be in a better position. That might mean staying with parents with a newborn or renting a place. It’s a difficult decision. In the long term you benefit from saving money but you might go mad.