Desperate...money advice needed please

[HouseHell]

Hi,
I was wondering if anyone could kindly offer me some advice.

I jointly own a house with my husband but we separated several years ago. We also have a joint bank account with an overdraft on.

When we separated, we tried to sell the house but were in negative equity. I moved out and moved area to be closer to my family who help with childcare. We both continued to jointly pay the mortgage till shortly after when H lost his job and moved in with his parents. I contacted our mortgage company who agreed to let us rent out the property and I have covered the shortfall since.

It emerged tonight that H has over £30k of debt and after losing his job (again) has stopped paying his creditors.

What should I do in regards to the house? If I try and sell it I will have several months where I will have to cover the whole mortgage as well as my own living costs and I have recently become a full-time student so money is already tight. I'm really panicking about what will happen to my own credit rating too. Any advice?

Thank you.

is it still in negative equity?

Thank you for your replies.

I think we might just about break even if we sold now (not counting the actual cost of selling though). It would just be so risky if we put it up for sale, the tenants move out and then it doesn't sell. Wish I had a magic wand. This house has felt like a noose around my neck for years and I just hate that I am still financially tied to him.

Great idea about a free hour with a solicitor, I'll look in to that.

Thanks again.

Is the house desirable to a buy to let investor?

It is possible to sell with tenants in if the purchaser intends to continue letting it.

Your credit rating is going to be affected by his debts but you can't disassociate yourself from him until you have no financial links.

It probably would be desirable to someone wanting to let it out. Do you know if specific agencies deal with that kind of thing? That really would be the ideal solution.

I don't know specific agencies - sorry- but have a look on Rightmove for properties in your area- the relevant ads will always say 'Investors Only' or words to that effect- HTH.