On the edge of disaster.

Rlh1969

Dear All

There may be nothing to be done, but go over the edge of the cliff!

May have to give up job, due to child needing full time care.

Going to 1 income.

Can’t afford to pay mortgage only interest for a few years.

Have14 years left and tied in for another 3 to TSB mortgage.

Does anybody know if they might allow us to go interest only if alternative is not paying?

ACG

The alternative would be to sell surely? Otherwise the property gets repossessed eventually.

You could ask for interest only, you could ask to extend the term, you could try an alternative lender.

Have you checked what support is out there? Carers allowance for instance?

Thrugelmir

As far as the mortgage is concerned. Book an appointment, go armed with all the facts and discuss the situation with your lender face to face.

csgohan4

get a full breakdown of your incoming and out goings which would be useful for the lender to find out how much you can afford.


Stepchange are useful to get in touch with as well as the debt free wannabee forum on here

Friday1989

First of all check what benefits you may be entitled to https://www.gov.uk/benefits-calculators If your child needs full time care due to a disability or long term health condition then they should be entitled to DLA and you may be entitled to Carers allowance. You might be entitled to council tax reduction. There is also support for mortgage interest which is a government loan but might help to tide you over. There may be other small things you are entitled to such as warm home discount, free prescriptions, help with travel costs to hospital appointments etc if you are on a low income (as defined by the government) https://www.nhs.uk/using-the-nhs/help-with-health-costs/healthcare-travel-costs-scheme-htcs/

Once you've crunched all the numbers you'll be in a better position to speak to the bank.