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I got laid off this week. Plan on switching the mortgage over to interest payment only for 6 months to help cash stretch. Legislation came in the UK to help w
by nly 3y ago
I got laid off this week.
Plan on switching the mortgage over to interest payment only for 6 months to help cash stretch.
Legislation came in the UK to help with this last year. It's called the "Mortgage Charter"
- punkbit 3y agoHope it works for you! I'm in London; some close friends also lost their jobs a week before Xmas and are completely desperate.
- nly 3y agoCan you explain what you mean by desperate? Poor severance packages and few opportunities?
- punkbit 3y agoThey were about to renew the house/flat contract, but the landlord decided to sell. So, looking for a new job and a new place while unemployed.
- nly 3y agoFabulous
- punkbit 3y agoThere’s a chance to move outside London but finding work is harder, on top of that rent is quite high in any commute areas. I don’t see how this whole housing situation is sustainable. A 1 bedroom house in Peckham, Hackney, ex council going for 400k at 10pc deposit and current rates that’s almost 2k monthly payments for 25 years for a leasehold. Insane!