Can I half my Mortgage Payments? Joint mortgage, 1 person now died.

getmore4less

Council tax discount if you now live alone.

check for a funeral patment.
http://www.direct.gov.uk/en/MoneyTaxAndBenefits/BenefitsTaxCreditsAndOtherSupport/Bereaved/DG_10018660

talk to he lender.

how was the house owned(joint or tennants in common)
is there a will
any siblings
Who is administering the estate

Geebs

torbrex wrote: »

Sorry to hear of your mother

Was there no insurance policy linked to the mortgage and possible death of one of the joint holders?

I dont think so, as both of us were unemployed at the time of taking out the mortgage. The home was already paid for, we just needed money for home improvements and took a mortgage for 9 yrs.

Geebs

Looking at my finances, I've had to cancel 2 DD's, 1 for Home Serve home emergency thing, and I think Buildings and contents insurance, as I simply dont have the money to pay them. No doubt the bank wont be happy about cancelling buildings insurance, but atm its the only way to manage all the bills and pay the minimim payment on credit card. Still in middle of sorting funeral, so will see bank when its all over with. Taking fuel for car into consideration, I think I now have about £13 a week to live on.

ACG

Can you not sell the car? Saves on petrol, mot, insurance etc. Also gives you a sum of money to pay off your CC or atleast some of it to get the payments down.

Mrs_Arcanum

Even if you have to cancel the contents part. IIRC you must have Buildings insurance regardless.

Definitely apply for SMI.

marathonic

Sorry to hear about your mother.

Does anyone know whether the 0% Balance Transfer credit cards look at earnings or just credit history? If just credit history, that may be an option.

Depending on your circumstances, taking in a lodger may be an option and you're allowed up to £350 per month tax-free with the rent-a-room scheme.

I'd echo ACG's comments, getting rid of the car should be looked at. Again, this depends on your circumstances but, if unemployed, do you really need the car?

Mojisola

Mrs_Arcanum wrote: »

Even if you have to cancel the contents part. IIRC you must have Buildings insurance regardless.

I'm sure it will be a condition of the mortgage that the building is covered by insurance.

Gentoo365

Speak to the lender.

They do have the ability to lower the payments and they are likely to do so.

EDIT - It is generally best not to cancel the buildings insurance. The mortgage company will probably ask you to sent them a lost of all your income and outgoings and they will put together a plan. They will rather you reduced the mortgage payments than cancelled the insurance.

In order for them to be helpful they need to be able to trust you and know that you are following the terms as much as you can, so please don't cancel the insurance. At least not at this stage.

molerat

If the lender finds out the building is uninsured they may take out insurance and charge you for it plus start adding other admin costs which will cost a lot more than you are paying now.

silvercar

Sorry for your loss.

molerat wrote: »

If the lender finds out the building is uninsured they may take out insurance and charge you for it plus start adding other admin costs which will cost a lot more than you are paying now.

I agree, cancelling building insurance will mean that the lender will put their own building insurance in place and charge you for it - it will end up costing you a lot more than you are paying at the moment.

You really need to do a benefit assessment on your new circumstances. For a start you should be seeing if you are eligible for Support for Mortgage Interest (SMI) as the money was for home improvements you may not be, but check.

Also claiming single person council tax reduction.

General advice is to prioritise your mortgage ahead of your credit card.

Check out the life insurance, if it was linked to your mortgage - it would go to the mortgage not funeral expenses - is there a grant for funeral costs.