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Marriage going belly up.

peterh389
peterh389 Posts: 4 Newbie
in Marriage, relationships & families
OK without going into detail it seems my marriage is going to end.


We would like to keep the divorce as civil as we can.



The worry I have is where my wife and kids are going to live when I leave, we jointly have a house which is worth about £165000 and I wouldn't be able to carry on paying the mortgage and be able to live myself and my wife would be unable to afford the mortgage on her own.
The outstanding mortgage is around the £40000 mark but our repayment are about £680 per month.



Do Portsmouth City Council buy back houses they have sold?



Is there a way to sell the house and have her and the kids carry on living there paying rent,I am 57 she is 51years old my kids are 18 and 15 years old.



Has anyone been though this and if so how did it work out for you?


Also not sure if it is relevant but we are both disabled I receive a pension from an insurance company and my wife gets DLA at the middle rate.


Please no wise cracks about us getting jobs as we are both severely disabled.

Any help gratefully received:T.

Comments

  • RAS
    RAS Posts: 36,525 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Hi

    Your wife needs to put the details relating to her circumstances once you leave into www.turn2us.org.uk to find out that help she can get.
    If you've have not made a mistake, you've made nothing
  • pigpen
    pigpen Posts: 41,152 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    If she is uable to work would she not get income support/esa/whatever it is called and therefore housing benefit would cover the interest on the mortgage

    Could you remortgage and have a lower monthly payment?
    LB moment 10/06 Debt Free date 6/6/14
    Hope to be debt free until the day I die
    Mortgage-free Wannabee (05/08/30)
    6/6/14 £72,454.65 (5.65% int.)
    08/12/2023 £33602.00 (4.81% int.)
  • Emmzi
    Emmzi Posts: 8,658 Forumite
    1,000 Posts Combo Breaker
    how long since you bought the house? As the discount may have to be repaid if you bought recently.
    Debt free 4th April 2007.
    New house. Bigger mortgage. MFWB after I have my buffer cash in place.
  • diable
    diable Posts: 5,258 Forumite
    Over how many years is the mortgage over as the £680 is more like a £100k mortgage?
  • peterh389
    peterh389 Posts: 4 Newbie
    The mortgage was taken out quite late in life (over 45),I can't remember exactly when but it was over a short period because of my age the original mortgage was for about £28000 but I had a further advance for the loft conversion and an extension to the rear of the property of £50000 ..this was affordable while we are together but obviously things have changed.
  • diable
    diable Posts: 5,258 Forumite
    So how much is the mortgage for now?
  • peterh389
    peterh389 Posts: 4 Newbie
    edited 7 July 2011 at 10:42PM
    diable wrote: »
    So how much is the mortgage for now?

    I have just checked on-line it is £12,339.43 for the mortgage and the further advance is £33,481.29
  • diable
    diable Posts: 5,258 Forumite
    over how many years?
  • peterh389
    peterh389 Posts: 4 Newbie
    diable wrote: »
    over how many years?

    Until 2018
  • sunflower_2
    sunflower_2 Posts: 1,471 Forumite
    STAY TOGETHER

    the grass is rarely greener

    xxxxxxxxxxxxxxxxxxxxxxx
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