Husband "lying" about mortgage payments

[cassierocks]

My passive aggressive and now posibley now financially controlling husband is lying about our mortgage payments. I was recently made redundant and asked him once again if we could go through our finances jointly. I have previously paid a set amount by s/o each month into his account to contribute. I have always suspected however that he felt he had more control over our disposable income because he works full time and it would be left in his account at the end of the month. The new spreadsheet clearly states our income and spend for each month and for Jan and Feb he has 742 by the mortgage. However, I have online access to our mortgage and can see he has only paid 104 for each month. I am confused and angry at the same time but don't want to call him out on this as I have been thinking about ending my marriage and this may be the final straw. I want to think a bit more but needed to rant somewhere !!!!

[littlewoollypervert]

Looks like the £104 is the interest on the mortgage only.

If the endowment is due to pay off the capital next year, and is worth £40K now, then £638 (£742 - £104) could be the endowment premium - looks about right.

However check that your name is on the endowment policy as well as his - if it isn't assigned to the bank, and is in his name only, he could encash it without your permission and take the funds. Then you'd have nothing to pay off the mortgage with...

[littlewoollypervert]

Sorry meant to expand further on the endowment - if it is intended to pay off the mortgage next year, it will have to be aiming for a value of £54K next year.

Current value £40K.
12 mths premiums at £638 per month = £7656
Growth on the £40K @5% = £2000

£40K + £7656 + £2000 = £49,656 - a relatively small shortfall on an endowment.

Obviously this assumes there are only 12 months to go - if the maturity date is December 2018 then there could be 22 months so the value may be higher by then.

[LightastheBreeze]

We have an interest only mortgage which is similar and endowment.
Mortgage iirc is about £130 a month and endowment for £50k is about £130 a month

[Lostin3dspace]

See, although the explanations above about interest only mortgages and endowment premiums make sense, the OP says that the £742 was being paid into the actual mortgage until December. Because she could see from the online mortgage statements. So he has done something without informing her. It may not be trousering her cash, but something has changed.

[Norland]

That's very true Lostin3dspace

I had to re-read the OP's post at 19:42 :-

I will call the lenders in the morning. The mortgage left is approx 54K and it was already interest only as we have an endowment worth approx 40k which matures next year. The online statement says 742 was paid up to Dec last year, then 104 for Jan and Feb. I thought maybe he had arranged to reduce the payments until I found another job but its the not telling me that has me worried.

I'd thought it was the spreadsheet figures, as per original post. The £742 online statement doesn't make sense as a standalone figure as part of the mortgage, given BoE base rate fell 0.25% at one point in 2016, from 0.5%

[WankersHacksandThieves]

Did you have redundancy cover on the mortgage that he is claiming in order to reduce the payments while you are out of work?

So, effectively you are paying a reduced amount for a set period?

My old mortgage allowed me to take a payment holiday, this may be similar since you aren't working.

[cassierocks]

Thanks all for your responses, especially Lostin3dspace who repeated my point about already having access to the mortgage statement so can see what has or hasn't been paid. Lenders confirmed our payments dropped to £104 per month after interest rates fell last Sep. The payments before then were actually 342 but we were overpaying 742 because we could afford to. The issue is that he is a) not passing on information about changes, b) still claiming 742 as an expense in our finances but only paying 104 (the endowment and life insurance payments are separate) So what is he doing with the £600 ?

[Mix56]

Tell him as you have over paid, the next 4 months or so, have already been paid. so he can take care of it, where is he putting this money, in his private bank account?

[stillnor]

Did he come clean OP?

[Ellisandra]

Well, only he can tell you that.