Hacker News Reader

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"

Hope it works for you! I'm in London; some close friends also lost their jobs a week before Xmas and are completely desperate.

Can you explain what you mean by desperate?

Poor severance packages and few opportunities?

They 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.

Fabulous

There’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!

Reply on news.ycombinator.com