Struggling to pay my mortgage alone - bank not interested! *Rant*

lmjohstone

Jhoney - I meant that the only sensible options were fixed rate only, thus with ERCs.
I could have gone for a different deal but it would have cost the same/more than the variable rate!

Boredatwork - My dad suggested that I get my ex removed from the mortgage, but surely then the debt is all on me?

I have emailed him (he requested all communication is via email so he has a record of it) saying basically if we don't lower the price and get a quick sale, I will get a solicitor and go for over 60% (I have always contributed more to the mortgage).

molerat

Have you worked out half the mortgage v half the rent - plus it could come in handy when negotiating a settlement figure.

Boredatwrork

"Boredatwork - My dad suggested that I get my ex removed from the mortgage, but surely then the debt is all on me?".

You can at least get a solicitor to write you a draft stating that any payments made since last november will not be split against your husband, that way if you sell house, he wont get half of the monthly payments he hasnt put into. I know solicitors have processes for things like that.

Like I said, if you dont want to lose your house, get a lodger in if its practical, its a means to and ends, you never know you might enjpy the company.

chelseablue

I would also suggest a lodger, I don't know where your from but if I were to rent out the spare room in my house it would bring in about £400 a month at least

Jhoney_2

If you have space, the Rent A Room scheme allows c£7k from a lodger tax free, but please check the forum to get facts and figures. You need to register for it, and find out about the best way to conduct it etc. Lots on the web too.

lmjohstone

molerat - Sorry, I don't understand what you mean?

Boredatwork - I don't want to have to pay a load of money to a solicitor if there is a possibility that I wont get any more than 50% (it was a bit of an empty threat to get him to agree to dropping the price). I wanted a nice clean break but its looking like it is going to get messy.

Boredatwork/chelseablue - I'd be very hesitant to get a lodger as the house is tiny so we'd be in each others pockets

Jhoney_2

Not sure if there are kids involved, but if so you could specify when living space is used e.g you = kitchen 7-00 - 7.30, them before or after - anything you want really, but stated up front. If you have a two bed and a kid (s), buy a bunk bed for them, take the larger room and give the other to the lodger.

Even if it's just until your debts clear - better than struggling further. Clear your debts, give them a week or month notice period unless something serious occurs when it would/should be less. Write it all into the agreement and that's it...with an end date in sight should you require.

AND KEEP YOUR EYE ON THE PRIZE!

Boredatwrork

Move in with your dad, that will save you a bit on bills alone (if its practical and he is local of course). and one step further stick all your stuff in storage, and rent the house.

foxy-stoat

Boredatwrork wrote: »

"Boredatwork - My dad suggested that I get my ex removed from the mortgage, but surely then the debt is all on me?".

You can at least get a solicitor to write you a draft stating that any payments made since last november will not be split against your husband, that way if you sell house, he wont get half of the monthly payments he hasnt put into. I know solicitors have processes for things like that.

Like I said, if you dont want to lose your house, get a lodger in if its practical, its a means to and ends, you never know you might enjpy the company.

This will never work, the liability is joint and so is the equity, no amount of solicitor paperwork will change that if the Ex doesnt agree.

Best to get some additional income from lodger or help from family until the house sells. Its worth keeping your credit history intact.

tiger_eyes

I'm not sure from your posts whether your estranged husband fully understands what will happen to him if you're unable to pay the joint mortgage. Does he realise the impact on any future financial plans of his, eg buying a new house, if his credit history is full of failed mortgage payments?