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In a bit of a pickle with my mortgage
1gaz1
Posts: 442 Forumite
Right, to cut a long story short, I split with my ex partner of 6 and a half years last July. We weren't married but had a 50/50 mortgage on the house we had owned and bought together almost 4 years previous. The mortgage was a 40 year one which was fixed for the first 5 years. Those five years finish september 1st this year.
I moved out of the property and started renting. We sorted it with the solicitor that I would be "frozen" off the mortgage for a year (until the 5 years fixed rate ends at the start of September) So in other words my ex would be paying the mortgage in full until that 5 year fixed period ended. There was no way we could have sold the house at that point. A house we purchased for 97k to now be valued at between 80-85k (she had it valued shortly after I left) Putting our house on the Market and selling it just wasn't an option as between us we would have owed the bank thousands.
I met someone else quite quickly after we split. And she moved in at the back end of August. Bit rushed people might think but we were and still are happy so there you go! This is where it gets even more complicated! She told me in october that she was pregnant (16 weeks as of now) So to cut a long story short I'm am on a daily basis worrying like mad what is going to happen in September once I have most probably got to start paying my 50% share towards the mortgage again (£232 per month currently at fixed rate but could be more or less at that point) I have no idea how I will be able to pay this, especially when my current partner won't be bringing much moneyin maternity wise and my job only brings in around 1k per month after tax. The bills, car, baby etc will eat in to most if not all of that I'm sure.
Wha options do I have available to me?? (serious answers please) It is a bit of a mess and hopefully things will sort themselves out. Since i moved out I've got myself sorted out but now with the prospect of September looming I'm starting to stress out a bit. Any input or advice would be really, really apreciated guys.
I moved out of the property and started renting. We sorted it with the solicitor that I would be "frozen" off the mortgage for a year (until the 5 years fixed rate ends at the start of September) So in other words my ex would be paying the mortgage in full until that 5 year fixed period ended. There was no way we could have sold the house at that point. A house we purchased for 97k to now be valued at between 80-85k (she had it valued shortly after I left) Putting our house on the Market and selling it just wasn't an option as between us we would have owed the bank thousands.
I met someone else quite quickly after we split. And she moved in at the back end of August. Bit rushed people might think but we were and still are happy so there you go! This is where it gets even more complicated! She told me in october that she was pregnant (16 weeks as of now) So to cut a long story short I'm am on a daily basis worrying like mad what is going to happen in September once I have most probably got to start paying my 50% share towards the mortgage again (£232 per month currently at fixed rate but could be more or less at that point) I have no idea how I will be able to pay this, especially when my current partner won't be bringing much moneyin maternity wise and my job only brings in around 1k per month after tax. The bills, car, baby etc will eat in to most if not all of that I'm sure.
Wha options do I have available to me?? (serious answers please) It is a bit of a mess and hopefully things will sort themselves out. Since i moved out I've got myself sorted out but now with the prospect of September looming I'm starting to stress out a bit. Any input or advice would be really, really apreciated guys.
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Mods - feel free to move this to the apropriate section if I have posted this in the wrong section. Could you pm me to let me know where it has been moved to if you do so. Cheers.0
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