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Secondary education

Connect with other parents whose children are starting secondary school on this forum.

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Original poster

Paying for Secondary School fees

36 replies

Beansfordinner · 26/03/2018 17:56

Hello
My daughter gained a place at a private school. No state school offer at all because we don't fit religious criteria or location criteria.
The only way to pay for her education is to re-mortgage my home. I own it jointly with her father, from whom I am separated. He will only agree to it if he gains complete control over the re-mortgage. He wants to use the money to re-invest for his own benefit, to make a profit whilst the yearly fees are paid.
What should I be aware of?

OP posts:

Knittedfairies · 26/03/2018 17:57

I can’t get past no state school offer at all!

flowery · 26/03/2018 18:01

You should be aware that your local authority not offering your daughter any education is unlawful.

xyzandabc · 26/03/2018 18:04

Do you truly mean you have no state school offer or do you mean you either haven't applied for a state school place or have chosen to decline the school you were allocated?

Or are you not in England as most people would assume this.

Islandbabe · 26/03/2018 18:06

My sympathies on no school offer. Same for us. Unless you count the “allocated school” which is under measures! Not an option. We will be financing in similar way. While still payng tax for the rest who,were lucky to get a good school, place! Naturally the in-laws think I am being extravagant! Unless your estranged husband is Buffet it sounds like a gamble and may fall foul of the terms of your mortgage application. I doubt his returns, unless risky will cover fees. Ask him for a report from his financial adviser. Good luck.

Allthebestnamesareused · 26/03/2018 18:07

So he wants to reinvest the cash to generate an income to pay the fees which seems really risky.

As you are not together can you actually trust him not to just bugger off with cash leaving you in the lurch.

I assume you me a you didn't get an offer you were happy with.

TeenTimesTwo · 26/03/2018 18:12

If they didn't offer you a place in the first round you should be
a) nagging them to find you a place
b) appealing for schools

If you haven't got a place then it should be easy to prove that the advantage to your child to be given a place outweighs the disadvantage to the school of taking on your child as an additional pupil.

NerrSnerr · 26/03/2018 18:16

Can you elaborate on the state school situation? Was she offered no place or are you not happy with what was offered?

It sounds risky doing it your ex's way,
you could be screwed if it goes tits up in a couple of years.

Is your daughter on any waiting lists for state schools?

Hadalifeonce · 26/03/2018 18:18

If you pay school fees in advance, you will normally be offered a reasonable discount, which is generally at a better rate than you would get from any bank/building society. It's worth asking that question before your ex-p 'invests' the money

cestlavielife · 26/03/2018 18:20

Sell the house and use the equity to get your own property in your name.
Do you have your own income?
How will you pay the increased mortgage?

Send dd to state school.

cestlavielife · 26/03/2018 18:20

It s only march. Get on wait lists.

SolidarityGdansk · 26/03/2018 18:40

Move to somewhere with better schools.

Your ex’s plan is too risky. Don’t gamble your home and security for school fees.

PotteringAlong · 26/03/2018 18:41

They have to offer you a state school. Just send her there.

BertrandRussell · 26/03/2018 18:42

The LEA has to give your dd a place.

NerrSnerr · 26/03/2018 18:44

Personally it'd be too risky for me. I'd send her to what's offered by the LEA and stay on the waiting lists for the more desirable schools.

ourkidmolly · 26/03/2018 18:49

Don't do it.

cloudtree · 26/03/2018 18:50

How much is the remortgage. Presumably you need at least £15k rising by about 5% each year so circa £125k plus extras for trips, uniform etc?

Original poster

Beansfordinner · 26/03/2018 19:29

Thanks for replies. The six state schools I put down, all local, didn't offer her a place. She got a state school which has a knife-crime problem. Really in all conscience cannot send her there.
Re mortgage - no, ex is not trustworthy, hence I left him. Waiting list is not an option as they are full. Have considered it, but as she doesn't fit any of the state school's criteria, she will still be low down on the list - which is know from general chat in the community - are like gold-dust.

So, mortgage for £130,000 - and we sell the house in seven years time and then split the equity.

But it is the fact that he want to take the money, invest it (I think to pay off his existing mortgage, thereby reducing his outgoings) and then he controls payment of the fees.

Baulking at the control element, as that was the reason I left him - because he is controlling. And also because this should be an equal deal - we will both end up paying for the school fees - just out of the equity.
But he says if i do not submit to his demands, then dd will have to go to the awful knife-crime state school. He is happy to live with this, but he knows that I would cut off my limbs for dd.

Just need to know pitfalls, as I am going to have to give into his plan.

OP posts:

BertrandRussell · 26/03/2018 19:30

What do you mean by a knife-crime problem?

trojanhorse2 · 26/03/2018 19:38

I wouldn't trust him. He could change his mind at any point. Have you spoken to the private school about the possiblity of a bursary? Or what going through a solictor and having an agreement drawn up? HJave someone independent manage the investment. It would cost but would provide protection. My worry would be he would take the money and pay off his mortgage, which would leave little or no money. Is he desperate for the money? If so, you should say £75K each and invest your £75K.

xyzandabc · 26/03/2018 19:39

So he's untrustworthy and the plan is to re mortgage the house you live in to allow the house he lives in to be mortgage free. Then what happen in 6 months time when he either does a midnight flit or just decides he can no longer pay the school fees? You're left with £130k of debt that you didn't have before and the same situation as now re schools.

This is in no way a good idea.

I'm trying to think of solutions for you but it's not looking good right now.

Gruach · 26/03/2018 19:41

Sorry to state the obvious but did you apply for a bursary?

Perhaps you’re too late?

Perhaps you have other assets?

Walkingdeadfangirl · 26/03/2018 20:32

Sounds like a bonkers idea, he could just not pay the fees and then your screwed.

A better way to do if if your going to go through with it is to get a lawyer involved and loan him the money as a charge against the property. So if he were to default on the fees you could get your money back from the equity when you sell.

Theworldisfullofidiots · 26/03/2018 20:36

Is it possible to move? I absolutely would not do this.
What if the investment goes belly up? No house and no school fees...
I don't think he would put your dd first.

BarbarianMum · 26/03/2018 21:39

Wouldn't it be cheaper to move close (very close) to a good school then put her on the waiting list and / or appeal to get her in?

LIZS · 26/03/2018 21:40

You can appeal for any state school of your choice as well as going on a waiting list. Honestly, investing 130k will be unlikely to generate enough per year and even just eating through the capital would be cutting it fine for 7 years' fees. Fees go up by well above inflation year on year.

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