Short term cash flow issue - help

[Meikyo]

STBXH and I have finally reached a financial settlement regarding divorce - after 3.5 long years. House and mortgage being transferred to my sole name. I have been paying mortgage and all bills on my own for many years as ex is unemployed.

Mortgage is currently 68% LTV. Present deal with lender is an excellent 2.5% SVR which am keen to keep. Going through the process with lender at the moment - will take a few more weeks.

Problem is, I have used up all my savings and have built up credit card debt for solicitors' fees - been a nightmare divorce (not my doing). My plan has always been to remortgage to add in the debt - this will bring remortgage to a manageable 80% LTV on an up to date realistic value for house. Current lender will look positively at remortgage but will only look at this once all the transfers are done (ie in a couple of months). This will reduce outgoings by £400 per month - I will use any spare cash to overpay the mortgage to decrease the debt.

I am now really up against it financially - will really struggle to pay bills for the next two months - have absolutely no credit left. Also have no headroom on overdraft. I have spoken to my bank and they are not willing to increase the OD facility even for a couple of months. I don't want to default on any payments as I have always paid everything on time and I cannot risk a default affecting my credit rating prior to remortgage. For the same reasons I don't want to take on any more debt at present. Caught between a rock and a hard place - any ideas?

Do you have any friends or relatives willing to lend you some money to tide you over? Alternatively, contact places like utility suppliers etc. and see if you can negotiate a 2 month payment holiday or some other kind of temporary reduction on your bills.... even if it means having to pay slightly more afterwards. Companies do have facilities for people who are struggling provided you talk to them in advance. Prioritise the most important regular bills e.g. council tax

Cogito - thanks for replying. Feeling much better today - been to have some jewellery valued (my diamond engagement ring and earrings I inherited from my Mum) and discovered it to be worth much more than I'd thought - ring was valued at £1K and earrings at £600. So I might try to sell the earrings at least. I have also identified a load of stuff to ebay so will get cracking on that.

You can miss payments for gas, eletric, water etc (not council tax though) for a few months. I do this when I know we are due a tough month. I pay monthly and just council the DD online and then start it up again when ready and they just recalc the figure to not much more.

Have you asked for a payment holiday on the mortgage?

Will you have council tax to pay for the next 2 months? We pay 10 months a year and then feb and mar nothing, the next years payments start in april. This is just how it was set up from the council not a special request so you may be in the same boat.

My suggestion was going to be sell anything you can but I see you are already on the case, can you work overtime?

Do you have any skills that you could perhaps be paid for from friends - decorating, gardening, taking up curtains (I paid £20 a pair to be hemmed at a local shop) so although this wouldn't make you a fortune every little helps.

Can you stop all spending other than bills, live on the current contents of your cupboards and freezer, lay the car up so no petrol that type of thing?

Also ask your utilities if you could make token payments for a few months, say £10 a month?

Cancel anything not essential, phone contract, sky tv etc

You sound like you have your head well screwed on though so keep up the good work