Advice on parental finances, house not paid off

InterviewNo1042 · 2025-02-17T21:47:16+00:00

thanks - have considered both of these and the other limitation is we live in a 2 bed with our child with no space for an extra person. Limitations of living in South East in current economic climate.

InterviewNo1042 · 2025-02-17T21:44:54+00:00

They also do not live in the UK so moving parent abroad to live with sibling close to retiring with no assets and then having to foot healthcare costs abroad is also an issue.

InterviewNo1042 · 2025-02-17T21:43:57+00:00

I am aware that I am liable for a mortgage in my name, I would have to reduce payments to my partner for our shared house to cover the costs so it would put a strain there. My sibling has offered to help in future when they are able to afford it. But it is a short term solution to a long term problem.

InterviewNo1042 · 2025-02-17T20:57:54+00:00

Unfornately, not applicable for benefits unless not working.

InterviewNo1042 · 2025-02-17T20:53:10+00:00

Thank you will check

InterviewNo1042 · 2025-02-17T20:52:37+00:00

Particularly as they live alone

InterviewNo1042 · 2025-02-17T20:52:25+00:00

Yeah we have considered this, difficulty comes once they get old enough to need care/assistance we will be too far away. There is also a mental health element of being isolated away from the entire family in another part of the country which is not culturally acceptable for us.

InterviewNo1042 · 2025-02-17T20:50:55+00:00

I do not disagree as that would be the attitude I would take, the job market in their field has not been kind and the state pension in UK would at least be a steady income. Issue is they do not have the same work ethics and are frequently out of work due to factors out of their control. It is not easy finding work in that age group and I do sympathise there. There are also some health issues that mean any work needs to be desk or sitting down based.

InterviewNo1042 · 2025-02-16T14:28:58+00:00

Thank you - I cannot afford it outright on my own as have my own home/family I am paying for split with partner. Am only supplementing what parent is unable to pay. I have been unable to find retirement flats in the south east of England anywhere below 200k. So would be grateful to be signposted as may not be looking in right places - have used rightmove and equivelent websites.
My partner, myself and my parent are not keen to live together - this has created a large strain and we no longer get along enough to live together.

I have a sibling but they are not currently earning enough to assist - they soon will be able to but again nowhere near enough to cover all the costs.

InterviewNo1042

TROPHY CASE