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Separation issues...?
DonutUK
Posts: 43 Forumite
Not sure if this is the right part of the forums to place this but here goes...
The wife and i have separated, but have been living in the same house for the last 12 months....combination of not wanting to move kids schools and financial necessity.
However, the time has come where one of us really needs to move out. Because of the kids schools, i am prepared to move out leaving the house to her.
The mortgage is in joint names, however currently i am the only wage earner. Even with a job i believe that she would struggle to make the payments on her own.
I have said that providing she can prove to me that she can afford the house on her own, i will move out to rented property, and we wouldn't tell the mortgage company of this at this point in time.
Questions:
Is this legal? Do we have to inform the mortgage company of the separation or do they not care as long the money is paid each month?
What happens if i move out and just stop paying the mortgage? Would the benefit people help her out? I have very little knowledge of the benefit systems having never really had to use them.
I have 1 CCJ (very recent) and a poor credit history, is this going to make my life hell in trying to rent somewhere?
The wife and i have separated, but have been living in the same house for the last 12 months....combination of not wanting to move kids schools and financial necessity.
However, the time has come where one of us really needs to move out. Because of the kids schools, i am prepared to move out leaving the house to her.
The mortgage is in joint names, however currently i am the only wage earner. Even with a job i believe that she would struggle to make the payments on her own.
I have said that providing she can prove to me that she can afford the house on her own, i will move out to rented property, and we wouldn't tell the mortgage company of this at this point in time.
Questions:
Is this legal? Do we have to inform the mortgage company of the separation or do they not care as long the money is paid each month?
What happens if i move out and just stop paying the mortgage? Would the benefit people help her out? I have very little knowledge of the benefit systems having never really had to use them.
I have 1 CCJ (very recent) and a poor credit history, is this going to make my life hell in trying to rent somewhere?
0
Comments
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Get a solicitor to give you advice or else you are going to get taken to the cleaners!0
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How much equity do you have in your house?
if you just moved out and stopped paying the mortgage, you will get repossessed, the house will get sold by your mortgage lender, then they will spend the next 12 years chasing you and your ex for any shortfall... so not a good idea!!
Why don't you just stay put for now, and put the house on the market? It may not be ideal for YOU (or her), but when you had kids, you made an 18+ year commitment together, so you need to put the kids first and make the best out of a rubbish situation, by being civil to each other, and working out what the best solution will be.Should've = Should HAVE (not 'of')
Would've = Would HAVE (not 'of')
No, I am not perfect, but yes I do judge people on their use of basic English language. If you didn't know the above, then learn it! (If English is your second language, then you are forgiven!)0 -
I agree ........................................I have put my clock back....... Kcolc ym0
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If you move out you would need to maintain your children and if the children are young, your wife as well. Not a good situation all round really.0
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