Wife is leaving me.

PeterJames123

19lottie82 wrote: »

Another idea would be, can your wife and DD not stay in the house? Maybe you could afford a smaller place.

I know it's not ideal, but then your DD might be able to keep on living in her family home, and can visit you in your new (and more affordable home)

I have suggested this but she just does not want to stay in the house. She suffers from depression; she refuses to take her pills which I think is a major part in all of this. She is adamant that she wants’ her own place and a fresh start. I really don't want to force her into anything as she can be very volatile and my daughter is my life. I pick her up from her bed every morning and spend the majority of my spare time simply playing with her. This is killing me inside.

RAS

The bank are unlikely to allow you to take on the mortgage on your own if your income is too low.

If you get a lodger can you afford the mortgage?

Sounds like you need a clean break financial settlement otherwise your ex can come back in later years and ask for the equity that has built up.

Sounds to mee like you may have to sell up as that will be the only way to release her from the mortgage.

PeterJames123

19lottie82 wrote: »

You will need to re apply for a mortgage in your name only. If you don't earn enough you will be rejected and they won't remove your wifes name form the mortgage.

Again, can you not look for a FT job, that would enable you to do this?

[FONT=&quot]I am half way into setting up my own business so I may move back to my parent’s spare room and rent the property. When I finally start earning enough I could possibly apply for a remortgage?[/FONT]

heartbreak_star

In that case petition for full custody - if your wife refuses to take medication that could stop her being volatile, that may be a case for you to be your daughter's resident parent.

I wouldn't want someone with unmedicated volatile depression looking after my child. Give her the fresh start she wants...but without your child.

Good luck!

HBS x

RAS

PeterJames123 wrote: »

[FONT=&quot]I am half way into setting up my own business so I may move back to my parent’s spare room and rent the property. When I finally start earning enough I could possibly apply for a remortgage?[/FONT]

You will need consent to let from your provider, a gas certificate and other things - go over to the renting forum. You will also need to be able to pay the mortgage if the tenant defaults or if they wreck the place and you have a void.

Banks usually require three year's trading figures if you are running a business or self-employed.

PeterJames123

RAS wrote: »

The bank are unlikely to allow you to take on the mortgage on your own if your income is too low.

If you get a lodger can you afford the mortgage?

Sounds like you need a clean break financial settlement otherwise your ex can come back in later years and ask for the equity that has built up.

Sounds to mee like you may have to sell up as that will be the only way to release her from the mortgage.

[FONT=&quot]My sister has offered that she will help me take on the re- mortgage so I don't lose the house and so long as I can keep up the payments. I think I can do this if I rent the property. She earns around 30k so if I were to re apply with her we could possible get it as the mortgage is 95k[/FONT]

StumpyPumpy

The first thing you need to do is to speak with your mortgage company. I know the instinct is to hide from it, but as many people on the debt boards will tell you that just makes it worse in the long run. They may be able to offer you a mortgage payment holiday whilst you find your feet and sort out your finances, but at the very least they will be able to tell you what your options are.

Also, I would suggest that any joint accounts you may have together get suspended immediately. Obviously, I know nothing about your wife and I'm not saying she would but too many people have had joint accounts stripped and huge debts run up by "the other half" in a failed relationship and both parties are liable for 100% of any debt in a joint account, so your assets are at risk if it did happen.

SP

miss_kc

Hi you can get a 25% reduction in your council tax as a single occupier contact your council and they will tell you how to apply


K

Primrose

So sorry to hear about your problems. Don't forget that if you are now the sole occupant of your home you will probably be eligible for the 25 per cent discount on your council tax. Contact your council tax office as soon as possible as the new tax year's council tax demands will be going out any time now so it's a good time to get the amendment made.

RAS

peter

please go over to the housing and renting forum - if you buy with your sister you will need a deed of trust and there isa conveyancing lawyer there who knows his stuff. You will also need a buy to let mortgage if neither of you lives there.

And you must speak to a lawyer ASAP. Do not pay your wife any of the £8000 until the divorce settlement is agreed, other wise she can have that money and then demand more in order to get the clean break.

And as said previously, if you have any joint accounts, close them. if they are in the red, stop all further transactions by writing to the bank and insisting that further debits require both signatures.