Split up from my husband and can't afford to pay the mortgage

dopher

Good evening all hope you're all well
I need some advice a year ago I split with my husband there was nothing nasty involved it had just run its course, we have remained great friends and he comes over every eveing when he's not working to help put our 2 daughters to bed. Since the split he has been living at his mams and he has been paying the mortgage on our home, I have been claiming income support and in November applied for help towards the cost of the mortgage which is £210 a month but the dss would only pay £24 a month towards this. Now (understandably) after a year of living with his mam my ex has decided that he wants his own place we have gone over all his and my finances and there is no way I can afford to take over the mortgage payments which means he can't afford his own place. I know the obvious solution is to sell the house and I am slowly accepting that but if I don't ask I'll never know which is why I have posted this to see if anyone knows of anything else I can do.
Dawn

cattie

It would seem if you're not working there is little else you can do as you wouldn't be granted a mortgage as things stand now.

Income support only pay the interest on the mortgage, not the capital, which is why you don't receive the whole amount you have to pay each month.

You might find it helpful to get some advice from Shelter about your situation & options for future housing.

Good luck, I know how unsettling it can be to be facing losing your home after a marriage breakup.

Spendless

Did you tell IS that your husband was paying the mortgage? £24 a month for a £210 mortgage doesn't sound very much even taking into account they only pay interest only. They only pay out after so many months too. I'd get it re-checked at somewhere like CAB.

Would you be better off working at least 16 hours a week and claiming tax credits instead. They will also pay upto 80% of any childcare you might need.

www.entitledto.co.uk

Prudent

Its sounds like your ex has been very good over the situation. Will you have enough capital to buy a smaller place for yourself and your girls? Have you considered a shared ownership option? You could put any capital from your present house into the new place and the dss could help you with the rent on the balance.

Jet

Yes, try and look at ways of using any equity in your current home to purchase a new one. Otherwise you may have to live off the capital until it runs out, then start claiming income support again.

dopher

Prudent wrote:

Its sounds like your ex has been very good over the situation. Will you have enough capital to buy a smaller place for yourself and your girls? Have you considered a shared ownership option? You could put any capital from your present house into the new place and the dss could help you with the rent on the balance.

there would be plenty capital left over after the sale would it be possible for me to buy it from him via shared ownership?

Prudent

I don't know if this is possible. Usually shared ownerships are set up by housing associations. In my area it is mainly new builds with resales coming up via estate agents from time to time. Might be worth asking your CAB though. This would still mean a lot of your ex's money would be tied up. Would that leave him enough to buy his own place?

Gorgeous_George

Have the house valued and subtract the mortgage redemption figure from it. This is the number that you need to share with your husband.

Assuming its 50/50 you would get half the capital and would need to make up the other half with a mortgage.

Assume house valued at £125 with £25 outstanding. You would receive £50K from the 'sale' of the house leaving a mortgage requirement of £75K. Borrow this interest only from a building society or bank and HB may assist with this cost.

You're husband should be expected to pay 20% of his net salary towards his two kids.

BTW, I don't think marriages just 'run their course'. People should work at their marriages and be prepared to live 'till death us do part'. If not, they shouldn't get married and shouldn't have children.

GG

Ystrad_Lad

Have you been to a solicitor yet? I think from your comments, that you would qualify for legal aid.

After 12 months apart there is probably little hope of getting back together so formal divorce proceedings are your best option. A court will put the childeren first and will probably allow you to stay in the matrimonial home until the youngest is 18.

Regardless of whose name is on the mortgage, or who pays the mortgage, your ex isn't entitled to 50%, with two children it's more likely to be 33% and if you can't pay it he will have to accept what you can afford or wait to get his hands on the equity.

Don't view this as being vindictive towards your husband. You need to get your finances in order so that you can get on with the rest of your life.

I've been there and got the badge.

Take the other advice on Tax Credits too. Also, if you are the only adult in the house, apply for a reduction on your Council Tax.