Help!!!

STRESSHEAD_3

I have currently split up with mu husband he has left the property and is not paying anything towards the mortgage or other bills. My house has been up for sale for 12 months and we had an offer but they pulled out today as they cannot sell their house.
I cannot afford the mortgage on my own and my ex-s parents are currently paying his half of the mortgage (£475.00) per month and i pay the other half.
I have had to put all my unsecured debts with a personal debt company and that is getting sorted.
My mortgage rate is currently due to change and my mortgage payments will go up in September. My lender Kensington Mortgages are aware of the current situation however have offered me no help. The mortgage is already on interest only. I am not in any arrears with the mortgage at the moment however my ex's parents will not pay the mortgage for much longer as they were olnly doing this until the house sells.
My ex is not bothered and will just go bankrupt as he is self employed. There is also a charge on my property for £10,000 which is a debt solely in my husbands name, i have tried to get this removed but to no avail so i can drop the house price.
I am at my wits end and now feel that my only option left is to hand the keys back to the mortgage company. The house was valued at £215,000 i have dropped the price to £199,950 and the outstanding balance including the charge an outstanding amount of £189,000. Can anyone advise me of what to do I feel as though i have no-where to turn i cannot remortgage as my credit score will now be affected because of my unsecure debt.

lisyloo

How big is the house?
Have you considered getting a lodger or 2?

If it's a 3 bed, then would 2 lodgers cover the shortfall?

aah

string him up

i hope he gets nothing out of this house when you do sell.

it is good of his parents to pay up his half but they'll probably want their take when you sell - of course if there is no profit then they can get nothing, but thats a shame for them.

sorry no good advice - other than to see if you can extend the term; or cut your losses - after all the b******* is liable for half the losses too.

dunstonh

after all the b******* is liable for half the losses too.

actually, he is liable for all loses. On a joint mortgage, both people are equally and jointly liable for the whole debt. Not just 50% of it. So, if one does a runner or cannot pay the lender can come after the other for full settlement.

~Beanie~

Handing the keys back to the Lender is not a good idea - they could sell it for less than you owe and oursue you for any shortfall.

If you just want to get rid, can't you lower the price to £190K so you have enough to repay the mortgage and the £10K charge?

STRESSHEAD_3

I have thought about lodgers but i have a young daughter and i also work 24/7 shifts for my own sanity as well i need out of the house too many memories. Other than that i move out also and rent the property out which is an option i didi not really want to do but a possibility.

STRESSHEAD_3

He is very clever and is aware of this, i know where he is living and can pass on his details to the mortgage lender he is self employed barely works and has stated he will just make himself bankrupt as we have nothing other than the mortgage joint financially. I am salaried and earn a good salary so they will just take it directly out of my wage therefore i will have to suck for the whole of the debt, yes he is very clever !

PasturesNew

Can you do a part-exchange with your buyer that pulled out?
Long shot, but worth considering if their house happens to be the right size/right place, but smaller/cheaper than yours.

Toughluck

Let him go bankrupt then.

As dunstonh said this is going to affect him as much, if not more than you. Sounds as though the charging order is in his name so he will not be getting a mortgage for a long time based upon current circumstances.

What can you do? I don't know really. You will probably get a little back selling at the price you are and be forced in to rented accomodation. Personally, if his parents are willing to keep half the mortgage I'd string this out as long as possible if I was you.

Troubled_Joe

Go to a solicitor. Issue a divorce petition and ancillary relief proceedings and make an application for maintenance pending suit to force him to pay his half (or all) of the mortgage.

lisyloo

Go to a solicitor. Issue a divorce petition and ancillary relief proceedings and make an application for maintenance pending suit to force him to pay his half (or all) of the mortgage.

If he isn't going to pay and can avoid showing any assets or income, then wouldn't this just cost the OP money i.e. paying the solicitor.
He doesn't sound like a nice person (being polite) but if he is clever (which sounds like he is) it's not that difficult for him to avoid paying a penny and the OP is stuck with the bill.

No offence intended to anyone, but I'm not sure the above is good advice.