SOA Revised having spoken to Stepchange

whatdowedonext

HappyMJ wrote: »

You said only 3 posts ago "whilst we go BR".

Are you going to become liable for any of the debts you have listed above?

You said earlier that "We defaulted and it was repossed." If the mortgage was taken out jointly you now become liable to make the payment on it.

Do you have any income of your own?

Why is the CSA payment only £250 a month?

Why do you not get any Child Benefit? On that level of income there should still be an entitlement to Child Benefit.

The mortgage was only in my husbands name, as are all the debts. I've made a mistake saying we as he's my hubby and I'm used to saying we about everything. Not the royal we just we do everything together! Wrong words used, sorry. I am not liable for any of the debts.

I have no income, I am unwell and cannot work at present.

CSA payment - it was agreed between my DOH and his ex wife. We have the kids here a lot so it balances out

We stopped claiming CHB in Jan when the new laws came in perhaps I've understood them incorrectly?

whatdowedonext

kepar wrote: »

DF that was my feeling to. But also if the OP's name wasn't on the mortgage she may have lived there long enough to have had BI in the property. We have posters on here all the time claiming BI when the OH is be going to be made br, so surely it should work the other way as well and the mortgage companies may be able to chase the OP if she lived in the house long enough.

Lived at the mortgaged property for 2 years??

whatdowedonext

HappyMJ wrote: »

Personally, I think that you and your brother should put the property up for rental. You would then have a personal income of £325 a month and then be liable for 10% (due to having 10% of the joint income) of the joint expenses. You and your husband should then rent somewhere else and your husband would be liable to pay 90% of the rent due to him earning 90% of the household income. The IPA would then be reduced to almost nothing.

The arrears on the tenancy you have with your brother becomes your debt. They cannot be included on your husbands monthly expenses.

We would love to do this mainly as it's painful to live at my parent's old home. My mother died at home from a painful cancer, I looked after her with the nurses and the room she died in has some awful memories. In hindsight we shouldnt have moved in. But we are here now and make the best of it we can. To move to another rented property with my husband's credit history would be impossible. The agents usually want 3-6 months up front rent plus deposit. Neither of which we have.

Thank you it was a great idea

wdwdn

HappyMJ

whatdowedonext wrote: »

The mortgage was only in my husbands name, as are all the debts. I've made a mistake saying we as he's my hubby and I'm used to saying we about everything. Not the royal we just we do everything together! Wrong words used, sorry. I am not liable for any of the debts.

I have no income, I am unwell and cannot work at present.

CSA payment - it was agreed between my DOH and his ex wife. We have the kids here a lot so it balances out

We stopped claiming CHB in Jan when the new laws came in perhaps I've understood them incorrectly?

If his gross salary after pension deductions have been made is over £60,000 then yes you pay the CB back but as his take home salary is £3,286 a month that means his gross salary is £56,300 which means you can claim child benefit.

dancingfairy

O.k so you should be o.k in terms of the BI in the houses then (I don't think 2 years is really long enough for them to argue you have an interest in the old mortgaged house but maybe someonewho is more experienced will be able to clarify).
In terms of the new house it is a bit weird that you pay rent to yourself (well to yourself and your brother). I don't know how the OR would look at that. I guess it depends on whether you assume that the rent would be twice that on the open market so you are getting your half of the rent 'free' and your rent is going to your brother. It's a bit strange. I'm not sure whether the OR will question it or not though.
The other thing you need to get sorted out though is the car.
Best of Luck
df

whatdowedonext

dancingfairy wrote: »

O.k so you should be o.k in terms of the BI in the houses then (I don't think 2 years is really long enough for them to argue you have an interest in the old mortgaged house but maybe someonewho is more experienced will be able to clarify).
In terms of the new house it is a bit weird that you pay rent to yourself (well to yourself and your brother). I don't know how the OR would look at that. I guess it depends on whether you assume that the rent would be twice that on the open market so you are getting your half of the rent 'free' and your rent is going to your brother. It's a bit strange. I'm not sure whether the OR will question it or not though.
The other thing you need to get sorted out though is the car.
Best of Luck
df

Thanks df it is 1/2 the market rate rent I pay to my brother together with a contract between us I guess I will have to hope the OR accepts that.

The car I'm not sure what to do.

wdwdn

sniggings

Don't think renting is impossible after BR, yes it can be hard but still possible, a lot of people rent their properties privately, they do not do a credit check.

whatdowedonext

HappyMJ wrote: »

If his gross salary after pension deductions have been made is over £60,000 then yes you pay the CB back but as his take home salary is £3,286 a month that means his gross salary is £56,300 which means you can claim child benefit.

I think I need to revisit the CHB site as there is a sliding scale and it changes my doh's tax code, so a little homework needs to be done by us as we just stopped claiming .

Thanks for the heads up

wdwdn

whatdowedonext

sniggings wrote: »

Don't think renting is impossible after BR, yes it can be hard but still possible, a lot of people rent their properties privately, they do not do a credit check.

Perhaps I'll buy the local paper tonight cant think where else to look for private rentals

wdwdn

sniggings

whatdowedonext wrote: »

Perhaps I'll buy the local paper tonight cant think where else to look for private rentals

wdwdn

Try rightmove as well, papers are good though, and look out for signs in house windows.