stop paying mortgage to pay rent?

moneynightmares

Hello
Sorry if this type of question has been asked before.

My husband and I have stopped paying our mortgage today to save for BR fees. By chance a house has become available to rent which meets our needs, average rent, not too flash, in the same village so minimal upheaval for the kids, and we can also take the dogs.

Would we be criticised if we secured the rented property ie paid the deposit and one month up front (which is what they want) rather than pay the mortgage as well as 'saving up' for the BR fees?

Also can the OR dictate where we live?

Hope this makes sense. thank you

Ineedaname

If you are intending to allow the house to be repossessed and any shortfall to then fall into your BR then the OR will have no problem with you using your mortgage payments to secure a rented property. No point continuing to pay into the mortgage if you're giving the house up anyway.

As long as the rented property is appropriate for your housing needs and a reasonable rent for that size property in the area then you should be fine. The OR cannot dictate where you live, what size property you live in or how much you pay. However, they will only allow a reasonable rent for the appropriately sized property for your family. After that it's up to you to find any shortfall in the rent from within your allowances.

I think this is the right information about how many bedrooms a family is entitled to, gained from Gateshead LA website:

You are entitled to one bedroom for:

• every adult couple (married or unmarried);
• any other adult aged 16 or over;
• any two children of the same sex aged under 16;
• any two children aged under 10;
• any other child.

moneynightmares

thank you so much, this is very helpful. I really appreciate your advice.:o

debt_doctor

Debt is very much secondary to keeping or getting a new roof over your head. Your thinking is entirely correct and you would do well to follow INANs excellent advice above.

DD