Hastings named as one of top 10 most expensive places in UK to raise a child

The study, by personal insolvency provider Creditfix, said working single parents are likely to be in a deficit of £400 after childcare and mortgage costs.

The research analysed four key data points across the 100 most populated UK towns and cities, including average monthly salary, the cost of child care, average house price, and average rent, to reveal the locations where parents are left with the most and least disposable income.

Creditfix said single parents with a mortgage in Hastings came fifth for being one of the most expensive cities with parents forced into a deficit of £400 before bills, food, clothing and socialising.

Using ONS estimated mortgage figures for a terraced property in each city, Creditfix revealed that single parents would be in a deficit each month if forced to pay for full-time childcare for children under the age of three.

For single parents with a mortgage, Creditfix said living in Brighton would leave them with the lowest disposable income each month at a deficit of more than £900.

This is based on the average monthly mortgage repayments for a terrace property in the city, on a five-year fixed mortgage with 10 per cent deposit, it added.

Aberdeen was found to be the cheapest city for single parents with a mortgage, leaving them with £1,090 disposable, Creditfix said.

Creditfix has also created an accompanying Cost of Being a Parent Calculator, which parents can use to discover how much they’re likely to have left each month.

Layla Johnson, regional manager at Creditfix, said: “It’s astonishing to see the financial turmoil that single parents could face living in Hastings with a mortgage; it seems as though some may be better off renting to aid short term disposable income and reduce piling debt.

“At a time when money is so tight, the Cost of Being a Parent calculator could be insightful for parents, or parents to be, planning on where to settle down with their children to have the most comfortable life.”