Does mortgage help effect new mortgage?

calamityjane

Hi everyone, I really hope someone can help me!

I have a mortgage with my husband. We separated 2 years ago and since then I have had help from the government with mortgage interest and then I have to pay a few hundred to keep up with the repayments. The mortgage remains in both my name and my husbands name, although he lives at a separate address.

My husband and I are thinking about starting afresh in a new house and I was wondering whether our separation will impact at all on getting a new mortgage? Does the fact that he has a mortgage for my house yet lives at a different address change anything?

My fixed rate period expires end june 2009 so should I change to a variable rate to avoid any penalties if I switch bank?

Thanks for reading this, you guys give such fantastic advice x

Robert_Sterling_3

Hi Calamity Jane. I like your User Name and wonder if your real name is Doris Day.

However your situation is a bit too complicated for me to offer you any help myself.
I wish you luck with this thread and I am sure someone else will answer your post soon.

beecher

Are you selling the house and then buying another? How much equity do you have, and what's your deposit going to be like? What are your credit ratings and salary multiple for your new house?

calamityjane

Thank you Robert, but no I'm not Doris! lol

Beecher, yes I plan to sell the house and buy another. Our credit rating is excellent (unless it's affected by me having help with benefits) and we should be able to put down a 30% deposit on the new property. Mortgage will be based on x3 salary multiple.

Does that help? Much thanks, CJ x

beecher

I can't see how you'd have a problem, though I'm not sure what you meant by having to pay money to 'keep up with the repayments'. Have you been in arrears at any point?

calamityjane

Hi Beecher

That's good news, I do hope I'll soon be able to build a better future for my family!

I have a repayment mortgage and the government will pay the interest only on mortgage repayments. Therefore I had to pay the rest (a couple of hundred every month). I haven't been in arrears thankfully!