Moving from shared ownership to rent

Marchant2651

Hello all,

I was wondering if I can tap into the knowledge and advice out there,

My situation is this, my wife and I have recently agreed to divorce. We have a 6 year old daughter. We currently live in a shared ownership house that is in my name. I am happy for my wife and daughter to stay in the house whilst I move out and seek alternative accommodation (we are speaking to the housing association to find out if we can first).

The question is this, I have looked around at places to rent and they seem very expensive and we (my wife's and my salary) pay about the same for the house rent and mortgage. My wife will be able to cover the costs of the house but I have more outgoings and have less of a salary, so i'm wondering what my options are in this scenario? Is renting the way to go?

Thank you for your help, If you need any more info then let me know.

Comms69

I assume you moving out is a definite? It's not unheard of for divorced couples to live together, atleast for a period


Shared accommodation would be your main option. (rent a room)

Marchant2651

Hello Comms69, Its not definite but at this stage it seems too hard for me to stay around as she has been unfaithful. I'm in no rush to move out as I don't want to put myself in financial trouble. I didn't realize that divorced couples stayed in the same house. Its definitely something to ponder on. Thanks

Pixie5740

If the shared ownership property is in your name I wouldn't be so quick to move out. Currently you are legally responsible for paying the mortgage and rent. Could you afford to pay rent elsewhere as well as the mortgage and rent for your current home if your soon-to-be-ex stops paying?

Marchant2651

Hello Pixie5740,

I cannot afford to pay the rent and mortgage and also rent in a new place. We are currently seeing if the housing association will allow me to officially rent it to her. That way, I can keep the mortgage and afford to rent my own place, and my wife and child have a place to stay. If thats not a possibility or not a good idea then Im not sure what to do, I will have to see what she thinks to me staying and see how we would cope with that. My mind is all over the place at the moment, I have so much to sort out and think about. Thanks for your reply

Tardis4

If you definitely plan to divorce, selling might be the easiest option, otherwise you are liable for mortgage + rent plus your own rent and child maintenance? Seems a bit far to stretch a paycheque? Plus if your wife isn't on the lease, the HA might have something to say about you not living there - some say you can rent to someone else but only for a fixed term of say 1 year.

Tardis4

Oops cross-posted. Would marriage counselling help at this point, if nothing else, to help sort housing problem?

Marchant2651

Hey Tardis4,

We have been to two lots are counselling sessions and both seemed quite positive. Although this was before we decided to divorce.

You're right, I cannot afford all of those at the same time, we are still waiting to hear back from the HA to see what they say. My wife isn't on the mortgage but her name is on the renting bit (not sure what its called). I think the best option is to stay put for now and try and pay off some bills, so its easier to then move out? My biggest outgoing is a loan of 11000 costing 293 a month. with that gone or reduced, I can have a better chance of sorting this mess out. Thanks again