Estranged husband handing keys to house back to bank

silvercar

neas wrote:

26 married to a my beautiful wife, Graduated in 2002 2:1 Masters Degree in an Electronic and Electrical Engineering degree

Young, decent job, would like to buy first home together but couldn't get on housing ladder because prices to high.

Made sensible decision to wait while prices drop but pee'd off that everything is on hold while prices fall. Probably annoyed that government seem to be doing everything they can to delay the fall in prices, which will delay purchase further.

Maybe also upset that fall in interest rates mean drop in interest on (impressive) deposit and possibly that rent is now higher than a tracker mortgage would have been if he'd bought.

neas

Silvercar hit the nail on the head. government is trying to undermine all my prudence... and is making a good job of it.

Luckily majority of savings is at 6 and 10% for another 9 months... but after then... mweh 2%.

True and having to put up renting off a letting agent/landlord combo who seem to take a looong time just to get around to fixing things (Landlord is in forces and all letting agent do is try ring him for 2 weeks then pressure wife to decide to help repair things). I.e we were out of a boiler for 2 weeks... had a butrace (sp?) come off the building due to high winds... and sufficiently got a little damp come through wall (and mould).. this took 2 months to analyse, cost and fix.

Toilet seat broke.... had to wait 3 weeks to get authorization to go and buy another one to be reimbursed..

Not entirely jealous of tracker mortgages... they will go back up methinks at some point... and the cost of the house will fall so will still be heading for neg equity but not as bad as those who fixed.

BettiePage

silvercar wrote: »

Young, decent job, would like to buy first home together but couldn't get on housing ladder because prices to high.

Made sensible decision to wait while prices drop but pee'd off that everything is on hold while prices fall. Probably annoyed that government seem to be doing everything they can to delay the fall in prices, which will delay purchase further.

Maybe also upset that fall in interest rates mean drop in interest on (impressive) deposit and possibly that rent is now higher than a tracker mortgage would have been if he'd bought.

Me next please! :j

Darth_Marty

silvercar wrote: »

Young, decent job, wife having affair with next door neighbour, would like to buy first home together but couldn't get on housing ladder because prices to high.

Made sensible decision to wait while prices drop but pee'd off that everything is on hold while prices fall. Probably annoyed that government seem to be doing everything they can to delay the fall in prices, which will delay purchase further.

Maybe also upset that fall in interest rates mean drop in interest on (impressive) deposit and possibly that rent is now higher than a tracker mortgage would have been if he'd bought.

:eek: hee hee hee

whathavewedone

At 26 Neas you don't know it all. You're not in a position to stand in judgement of someone with children whose marriage has broken down that you know nothing about personaly.

You saw that they'd mewed and just spewed out a load of venom without any consideration of the awful situation that the op's in.

26! And Mewers have ruined your life??? Get a grip. Your adult life's barely even started.

This a board for advice not schadenfraude.

Oh sorry you did give advice. Dont mew again next time. Great. Stick to the hpc board you patronising little brat.

At least I know not to take anything you say remotely seriously now so thanks for giving us a bit of background. Cheers.

whathavewedone

Oh and to the OP, check with your solicitor before leaving the marital home as the advice is generally not to do that at any cost.

Sorry you're going through such a horrible time. The only way is up.

silvercar

Darth_Marty wrote:

:eek:

Spluttered over that one, then the computer went dead!

Glad neas thanked you before someone accused me of editting my post after you had quoted it!

Generally the case that people's opinions are swayed by their life experiences.

First time round we rushed to buy to get on the ladder before HPs became unaffordable - that was London in 1986. By the last big drop in prices we timed it right to use the fall to move up, the gap between where we were and where we wanted to be being smallest at that point (1992-3).

Last move wasn't perfect timing. Early 2006, though we are paying much less on our mortgage than we would be in rent.

Dithering_Dad

neas wrote: »

Silvercar hit the nail on the head. government is trying to undermine all my prudence... and is making a good job of it.

Luckily majority of savings is at 6 and 10% for another 9 months... but after then... mweh 2%.

True and having to put up renting off a letting agent/landlord combo who seem to take a looong time just to get around to fixing things (Landlord is in forces and all letting agent do is try ring him for 2 weeks then pressure wife to decide to help repair things). I.e we were out of a boiler for 2 weeks... had a butrace (sp?) come off the building due to high winds... and sufficiently got a little damp come through wall (and mould).. this took 2 months to analyse, cost and fix.

Toilet seat broke.... had to wait 3 weeks to get authorization to go and buy another one to be reimbursed..

Not entirely jealous of tracker mortgages... they will go back up methinks at some point... and the cost of the house will fall so will still be heading for neg equity but not as bad as those who fixed.

Using the same generalising, 'not interested in finding the facts', 'make it up as I go along' approach that you take,here is my version of your life...

You haven't actually been prudent by plan, but due to circumstances. You graduated in 2002 and got your first job around that time. HPI was already ramping up by then and so as you established yourself in your career and put savings away, you looked in horror as house prices flew away from your finances. You couldn't afford to buy a house, so you didn't buy a house. You therefore rented a cheap house with your missus and have 2 incomes and decent savings. You're now waiting for house prices to fall and your saving to climb until they reach a level where you can buy a home.

However, lets look at an alternative scenario...

You graduate in 1998 and spend the usual 2 or 3 years at the start of your career paying off any university debts, establishing yourself in your career, getting rapid pay rises, renting a small place with your gf and you start saving for a deposit. You buy a nice 2 bed flat for £80k and settle down. You have 2 incomes and you have a great life. You then decide to have children. You save up prudently to cover any expenses while your missus is off work. You a beautiful baby girl, what a joyous event!! It's now 2002 and you and your wife decide to buy a family home. You want your kids to live in a nice and safe neighbourhood with good school. Unfortunately HPI has taken off but because you both have good jobs and a good deposit from the sale of your flat you decide to move. You buy a modest family home at a cost of £200k. Your mortgage is £150k, and while it's a bit scary you have 2 incomes.

You then have a second child. Again you're prudent and save up some money for when your wife is on maternity, and to pay for the clothes, pram and other knickknacks. You plan for your wife to return to work and the baby can go into a nursery. Nursery's are expensive, but with 2 incomes you can afford it.

When the baby is born, you notice that someting is not quite right. Many tests are carried out and you discover that your child has a mental disability and physical problems. This means that your wife has to give up her job to take care of the child. It's a struggle, but because of your financial prudence you get by. Unfortunately due to your child's special requirements, you have to alter bits of your house and find that generally the child is more expensive than you planned. You therefore MEW to carry out the modifications. Interest rates then go up, eating away at your savings and your income even more. You are then 'let go' by your employer duing the Great 2008 Recession.

You're at your wits end, you have a wife and 2 kids to support, one of whom is disabled. You can't afford the mortgage repayments and you're struggling financially. You go onto a financial website seeking help and some ar sehole who has never been in your sort of situation mocks you. You feel even more depressed. Eveyone thinks the person mocking you is a !!!!, but that is little concilation.

How about that alternate reality? Before you say "well, that could not happen in real life", I can state that it can, because it's pretty much my life story with a few details changed to protect the innocent...

moneymare

Clairobelle wrote: »

Hi Everyone

My marriage ended at the end of 07, my husband had been having an affair. He moved out and since then has been paying mortgage. I work 20 hrs week and have wtc and ctc but this has not been enough to cover all the bills and consequent debts which have mounted up since. Ive now got to a stage where i have to take out a debt management plan in order to take control back of my finances.

However, i have told my ex that i either have to move out of the home (large detached 4 bed) as i cannot afford to live her. some weeks i have to borrow cash off my mum in order to feed my 2 dd's.

His reply has been that he will hand the keys back to the bank as he cant afford to give me any to support out girls. Which is fair enough, the house is on the market but theres no way it will sell.

My questions are:
1. Will the bank give me time to find another place to live?
2. As he has paid the mortgage and he now cannot (even though it is a joint mortgage) is there any way i can protect my name so that in future years (not yet obviously, not got a bean to my name!) i might be able to get a mortgage?

Many thank
Claire xxx

Cant afford to give you anything to support the kids...............CSA.

Anyway of increasing your hours at work??

mlz1413

neas wrote: »

Of course not, As a fellow non-owner of a home I talk to them of greedy landlords and rising HPI which have hindered their life and progression onto the ladder.

:rotfl: Neas have you ever talked to a homeless person who is sitting on the streets or in the local park?

I do as there is a night shelter down the road from me and I can promise you the ones I speak to couldn't give a monkeys about HPC / HPI, regardless of the economy they get a weekly giro which they spend on drink. Most have never wanted anything else and most haven't known anything else.

OK so I haven't talked to everyone who is homeless but most who are literally on the streets don't want material things and those who do aren't on the streets they are doing everything they can to ensure they have a bed at night and an address so they can apply for jobs.

You may not own a home but that does not make you homeless.