fed up!

Becles

You obviously have your reasons for the marriage breaking up. I'm not prying and asking what they are, but it's clear you can't live with each other any longer.

Do you really still want to be linked to him for x many years while you live in the house? I know things may be reasonable now, but people can change over time.

He'll have the right to walk in whenever he wants or even move in. If your relationship gets worse, is he likely to play silly games?

What happens if you meet someone else and move him in? How would ex handle that?

What happens if he meets someone and they want their own place together?

What happens if ex is short of cash and decides to force a sale or take out a second loan to get at the equity?

Been there myself and there was no way I still wanted to be financially linked to my ex, as it would still feel like he had some sort of control over me.

Have a look at options for finding your own place and think about if it would be better in the long run to be financially free of him.

karenx

Sorry but this sounds like a disaster waiting to happen!

Worst case would be, your ex loses his job and your £300 down a month already. Out of whats left you still have to pay childcare costs which you get no help with.
Then all 4 kids need new clothes, your car breaks etc etc.
You only took into the budget mortgage and council tax. What about all the other monthly expenses? phone bill, sky/virgin, tv licence, bus pass/car insurance, house insurance, boiler insurance. It all adds up. And what if your hours are cut at work etc.
At least if you rent you will get some help with your rent while you save for a deposit so that your next home will not be financilly linked to your ex
He will not be able to get a mortgage while already named on one. And like has been said as it will be part his if he comes into financial difficulty he has every right to move into the house or force a sale of it. Then you will be back to square one. Yes things may seem like it will all work out ok for now. But it wont always be this easy. Espcially if you or him meet a new partner and want to move in together.

Morglin

Before you do anything, I would speak to a solicitor abou any future implications with all this.

If you (or your ex) lose your jobs, or if he remarries, it could end in chaos.

It might also be an idea to check that you are getting all state help you are now entitled to:

http://www.turn2us.org.uk/benefits_search.aspx

Lin

mumof4littleones

If I was to rent privately, could I get help with the rent, I have looked on the websites and it says I may be able to claim £167 per week aswell as working and getting max tax credit. This seems to good to be true!

karenx

Is that the max LHA rate for your area? Thats if you are entitled to full benefit which on 14k you will not be. Plus your tax credits you get.
Plus to rent you need to pay first months rent and deposit up front. You dont get this back via housing benefit.
And if you are named on a mortgage already you may not be entitled to any. Unless the house is for sale

Jowo_2

mumof4littleones wrote: »

If I was to rent privately, could I get help with the rent, I have looked on the websites and it says I may be able to claim £167 per week aswell as working and getting max tax credit. This seems to good to be true!

The LHA direct website shows the maximum rate - remember that there are future changes proposed to LHA that could impact the amount.

http://www.direct.gov.uk/en/MoneyTaxAndBenefits/BenefitsTaxCreditsAndOtherSupport/On_a_low_income/DG_10018928

The Turn2us online benefit calculator will take into account for your benefit and employment income (but will exclude child support as this doesn't impact your entitlement, child support is on top of any benefits).

Are you a joint owner of the property and what equity is in it? Savings impact LHA (above 6k impacts the sum received and above 16k rules out entitlement).

Also, the DWP can look dimly at claimants who use a lump sum to pay off loans early so if you are paying off debts ahead of any legal obligation to do so from the sale of the property, you need to understand about deprivation of capital and notional capital, which is a very complex area.

Jowo_2

karenx wrote: »

...Plus to rent you need to pay first months rent and deposit up front. You dont get this back via housing benefit.
..

A claimant does get the first months rent back from LHA - yes, the tenant does have to pay the deposit and first months rent to the landlord to secure the property, (the deposit is the tenants own money unless they've secured a deposit guarantee from the local council).

Then the Local council pays LHA from the start of the tenancy, hence the first months rent does get repaid to the tenant. LHA is paid in arrears while the tenant has to pay the landlord upfront to secure the tenancy, so its out of synch.

mumof4littleones

I am a joint owner in the property, I will make than £16,000 when the sale goes through so I won't be able to get help with rent, that's why I thought buying would be a better idea. I am going to go and see the local council tomorrow for some ideas and I'm also going to find a solicitor for some advice re buying with ex hubby.

Mojisola

mumof4littleones wrote: »

I am a joint owner in the property, I will make than £16,000 when the sale goes through so I won't be able to get help with rent, that's why I thought buying would be a better idea. I am going to go and see the local council tomorrow for some ideas and I'm also going to find a solicitor for some advice re buying with ex hubby.

If the solicitor has some suggestions, run the options past someone knowledgeable about benefits - your and your exs. The solicitor might not take that into account.

woozywendy

Can I ask how long you are planning to take the mortgage out for ? I know it is a common thing to include tax credits as income now but at some point they are going to reduce/stop as the children get older. And the government are looking at cutting these down in various ways.