Income support mortgage interest payments

mummytofour

Hi,
I'm currently on income support and about week five into my 13 week waiting period for help with housing costs.

My mortgage is in joint names with my ex who left 2.5 years ago. Will income support pay the whole mortgage entitlement towards my mortgage or only half as the mortgage is in joint names?

My mortgage is 710 a month, intrest only and full entitlement is about £122 per week.

I'm just wondering currently how I'm going to pay my mortgage and even more so if income support only agree to pay 61 a week. I'm a single mum and I care for my two disabled children.

Thank you

FBaby

Does your ex pays his half or is there an agreement that he remains on the deeds/mortgage, but not pay towards it (in which case, you really should have a legally signed agreement that when he ever tries to claim his half, say youngest is 18 or you marry again, he would only be entitled to the equity built up to when he moved out) or built this up in any divorce proceedings if you are married.

Assuming you pay the full mortgage, then I believe you would be entitled to the full entitlement, however, I'm sure you know this will only go towards the interest at a set low rate. This means that at best you will still have the capital to pay towards at worse the difference in interest above that base in addition to the capital. If your mortgage is interest only, then you might be ok for the time being, but you then have to consider how long the mortgage provider would agree to this and the fact that at some stage, you will lose the house if you can't repay the capital.

Understandbly, you are probably looking at the short term solution to keep the house, but don't ignore the long term totally. There have been many post by people who reach the end of their mortgage panicking because they know they can't repay it and will have no choice but to sell not being able to buy something outright with the release of equity and not able to get another mortgage.