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kimberley2009
Posts: 2 Newbie
Hi! I'm new to this forum and desperate for some good advice.
I have a joint mortgage with my ex partner, whom i'm still married to but currently going through divorce. We have 2 children together 6 & 8. The house is on the market but is not selling.
He lives in the property with his current partner and her child. I am private renting with my boyfriend and my children.
I have found out within the last week that my ex partner has cancelled the direct debit on the mortgage and now the mortgage is over £2000 in arrears. I have seeked legal advice and been told that my best bet is to get an occupation order in place to move back to the property and get him out and pay the mortgage myself.
My problem is myself and my partner are on low income, so we are currently in receipt of some help with housing benefit. What will happen if we takeover the mortgage payments? Will we get any help towards it at all?
Also, due to my ex partner being entitled to a share in the equity of the property, when am i supposed to pay him? The mortgage company have already made me aware that i won't be able to remortgage the property or go to interest only until there are at least 12 months clear of arrears on the mortgage.
How long will i be able to stay in the property for? Will the house have to remain on the market? I'm so confused
Kim
I have a joint mortgage with my ex partner, whom i'm still married to but currently going through divorce. We have 2 children together 6 & 8. The house is on the market but is not selling.
He lives in the property with his current partner and her child. I am private renting with my boyfriend and my children.
I have found out within the last week that my ex partner has cancelled the direct debit on the mortgage and now the mortgage is over £2000 in arrears. I have seeked legal advice and been told that my best bet is to get an occupation order in place to move back to the property and get him out and pay the mortgage myself.
My problem is myself and my partner are on low income, so we are currently in receipt of some help with housing benefit. What will happen if we takeover the mortgage payments? Will we get any help towards it at all?
Also, due to my ex partner being entitled to a share in the equity of the property, when am i supposed to pay him? The mortgage company have already made me aware that i won't be able to remortgage the property or go to interest only until there are at least 12 months clear of arrears on the mortgage.
How long will i be able to stay in the property for? Will the house have to remain on the market? I'm so confused
Kim
0
Comments
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Drop the price.0
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How much is the mortgage? Will there be a shortfall?0
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I can't drop the price without him agreeing to it and he wont, i've already asked. There is about £25'000 equity in the house, no shortfall0
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I really think you should be speaking to CAB, and/or possibly a solictor on this, with £2k arrears, I suspect the lender will be looking to repossess soon, so any equity you have will be wiped out, you need to find out exactly what you can and can't do, and get this resolved, doing nothing if he is not paying the mortgage is not an option.
Please get some professional advice as soon as possible.I am a mortgage adviser.You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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