oh cr*p..had a phonecall from exH today........

[FAQ]

he can't afford to keep paying towards the mortgage and the house is going to have to be sold.

The mortgage isn't in my name, but I've been paying half of it since he moved out in March, however, he can no longer afford to pay the other half, and pay his own rent.

I was told at the job centre last week that I could qualify for the help towards the interest on the mortgage, but having read all the stuff since I've got back on line (my computer died yesterday - I'm currently using the anccient base unit) I can't see anywhere that it indicates I would get it. And I don't qualify for housing benefit as I'm not strictly "renting".

So I'm probably going to have to move . Don't know how long, guess as long as it takes to sell the house - I'll get something out of it, he's already said that presuming the interest payment thing doesn't come through the profits (not much - perhaps a couple of thousand) he'll split between us, however that doesn't help me find somewhere else to live, that doesn't involve dragging my children back to one of the two (awful) estates in town as obviously I would have to pay rent/deposit for somewhere before the cash comes through.

oh sh*t

Just had a text from him......he's received a letter in the post saying indicating that we'll switch to interest only at the end of this month (which if true is good news as it means a lower payment)........however the letter also says it's for 3 months............which if true will leave us both in the same position we were a week ago wrt the house [worried]

ok panic over - just had a very apologetic phone call from him - it was the wrong account it was his loan account (same bank, very similar account numbers) the letter was about - mortgage agreement still as they said last week

Hi , im in a very similar position to yourself , although i am named on the mortgage.You should be able to receive half the interest payments after 12 weeks then after a while it goes up to 100 per cent of the interst.
My mortgage company will accept interest only payments indefinateley.
If you are receiving income support contact the mortgage section. Unfortunateley my job centre was useless and failed to tell me about this meaning i struggled needlessly for months. Have only just realised my kids shouldve been on free school dinners and i even carried on paying council tax that i didnt have to pay !
Hope everything works out.

You can also extend the mortgage - I'm facing that IF I can keep my house - currently going though a divorce too. If you switch to interest only and extend the term the payment will reduce drastically. Good luck.

Well it turns out that HSBC once again gave the wrong information on the phone, it's the final straw for exH and he's changing banks (not the first time they've told him/us one thing on the phone and then sent a letter a week or so later saying something different, or he's gone into the branch to talk to them and been told different).

Basically - he can't get an interest only mortgage we don't have enough equity in the house yet. All other options have been explored and it's come down to having to sell the house

We can't afford to keep up the payments on the mortgage (not if he wants to stay in his shared house, and if I want to save up for a deposit and rent) so it's now going to be a race to see if we can spruce this house up quickly and get it on the market and sold ASAP before the bank repossess.

It sucks, but exH is prepared to take all the repercussions from it and has told me to stop the standing order to his account (as the mortgage goes out of there) ASAP so that I can use the £400 each month that I currently contribute towards the mortgage to find somewhere suitable for the DS's and I. The mortgage isn't in my name, so it's not going to affect my credit rating in any shape or form.

I asked on another thread, and it would appear I've probably got several months before I HAVE to move (working on the basis that it's repossessed) so will be able to save up a decent amount to get us moved.

You need to make sure that you dissasociate yourself from your ex financially.
Your credit files will show a link to your ex through your address.
You can write to all credit reference agencies to do this.

It's a good idea to do so as if the house is repossessed and your ex is showing as an association on your credit file it could affect your ability to privately rent. ie most letting agencies carry out credit checks.

Sorry you have to sell. Best wishes for a new home. x x

Thanks newforold - I shall do that - hadn't occurred to me as I've been able to get credit both while we were together, and since he split up without any major issues (while he can't even get a temporary overdraft!!!!)