need to help my sister keep house!

essexsi_2

Thanks for all your advice and patience. I only have limited computer access.
Having spoken over the weekend with my sister, she is determined to stay put!! I did get the following which may help.

Property details
3 bed semi, bought jan 06 for £185000 now worth £230000, as average of 6 valuations done 5 months ago!
Mortgage details
£161000 on 2 yr fixed rate with Natwest due to end Jan 31 2008
£24000 deposit from Keyworker equity loan as 13% of property value, this has to be paid back only if she sells(one of her reasons to stay)
She has been paying interest only for the last 8 months since the split, this is £664pm
Income details per month
Salary-£1053.25
child maitenance-£500 , paid for the last 8 months
working tax credits-£313.25
child benefit-£72.40
Total per month-£1938.90

She has no other debt. I hope this helps and welcome any advice. Obviously the keyworker loan limits the lenders we can go to, but who can we approach that are more likely to assist us. What type of mortgage, guarantor etc?

Thank you all for your time and effort. Cheers Si

Dan_Collins_2

Well you may find a few lenders will use the other income, the maintenance will need to be court ordered. Halifax, A&L and maybe C&G might help.

If you cannot find a high street lender to do this The Mortgage Works (owned by Nationwide) self cert on a monthly affordability basis, you would not be lieing you just declare your monthly income. Depending on the outgoings you could get the amount needed. I would get your self a local WoM broker to help as they will be able to look at this case from outside the box.

Good luck

dunstonh

Just adding that Dan was correct in that I and a few others were quick to judgement and that the updated information does change the scenario to that given in post #1.

His comments appear spot on.

Squirrel29

Hi, make sure she checks out her tax credits on https://www.entitledto.com once her money goes up. I earn £21k full time and get £104 per month Child Tax Credit for one child I am no longer eligible for Working Tax Credit as earn too much.

Also, is the maintenance a private agreement or through CSA? In my experience once the ex starts to enjoy his single life, the payments either dropped drastically and sometimes didn't appear at all? The CSA took 2 years to sort it out and the whole thing was a nightmare.

I just worry your sister is relying on these to pay the mortgage and bills but they are not necessarily guaranteed sources of income?

essexsi_2

thankyou all so much for your input.i should have posted all the details in the first place!
the maintenance was sorted through solicitors, so is that through the courts!?!
I will get her to look into the tax credit situation. great forum!
so perhaps this just might work out.
on the basis of her income, would she beable to do this on her own or will she need a guarantor?
thanks again for helping out, it looks like we have a few appointments to make!! si

poppy10_2

Looks like she will be fine

Squirrel29

She's a really lucky girl to have such a supportive family, I hope everything works out for her. xx