Help with Seperation

jcradley

Me and my wife are soon to be separated we have a home mortgage that i would want to carry on paying as its the family home, with me leaving. However i pay as much as my mortgage to credit cards and loans etc, most in my name...@ £800 per month.

Have i an option to keep the home, and not pay/reduce payments significantly on the non secured debts...

Basically i need that money to get my own place!

Many Thanks

19lottie82

Sorry, your post is a bit confusing.
From what I understand you want to keep the house, your (soon to be) ex-wife, will continue to live there, but you will still own it?
And you will need to pay for your own place. But you have debts to pay too, and want to know if there is any way you can reduce the payments?

Why would you want to pay for the house for your ex to live in? Do you have kids? If not, how long would you consider doing this for? Surely a clean break would be best? Perhaps with her leaving and you staying in the house, if you want to keep it so much?

If you don’t pay your debts, then generally this will have an adverse effect on your credit rating, which will affect your future chances of getting any more credit, including a mortgage.

We need the situation clarified and more info before anyone can advise / comment.

1) Do you have any kids?
2) Does your wife work, if so how much does she earn?
3) How much do you earn?
4) How much is the house worth, and how much is out standing on the mortgage?
5) How much is your debt?
6) Is the mortgage on the house in both names at the moment? If so do you want to keep it this way?
7) How much do you need to rent a flat?
8) What is your credit rating like?