Barclays Mortgage Holidays or temporary interest only

Bluebird23

Hi everyone, I would really appreciate your advice.
I am sadly going through an acrimonious divorce and my ex has stopped making contribution to the mortgage this month.
I cannot afford to pay it on my own. The plan is to put the house on the market now and hopefully sell.
In the meantime, Barclays are saying they may look into letting me pay interest only or whatever contribution I may be able to for 3 month but said they will put the rest of he amount as arrears on our credit file which will remain there for 6 years.
I feels absolutely devastated as I will not be able to get any forms of loans or mortgage after the divorce and Barclays are penalising me even before giving us a chance to try and sell. We never defaulted ad have a pristine credit file. I am talking to them even before any defaulting has happened.

Does anyone have experience with Barclays ? is that what all lenders Do?
How detrimental is it to show at the outstanding mortgage for few months as arrears on out credit file ?
Thanks in advance

csgohan4

probably a good idea to let your ex partner know not paying the mortgage will affect his credit history as well and affect them getting credit in future.


Options would be to sell house while on an interest only for a limited time though

Being on interest only will mean accruing more in interest payments as the amount still needs to to be paid eventually

Bluebird23

Thank you for the advice. I have attempted to negotiate with my Ex but as he has found a job abroad and he will not be affected for the time being he doe not want to know.
Barclays said that this will appear as default even if I am reaching out to them and trying to find a solution before any defaulting has happened. I accept that the total amount to pay will be more but it is only till I manage to sell the house.
My question is, has anyone negotiated with them that they don't put it on their credit file if they manage to sell within 3 month ? or can have the defaulting removed from my credit file earlier than 6 years ?

BoGoF

Barclays will only be doing what they are obliged to do.......report the facts and if you don't stick to the contractual terms you have defaulted and they have to report it as such.

You need to look at alternative ways to fund the mortgage whilst awaiting any sale. Have you thought about a 0% money transfer card?

Another thought......how are you going to sell the property if ex is out the country. It will need his agreement.

Bluebird23

I now have a financial order (through court )that says the house needs to be sold so my ex should comply.
I need to find alternate ways to fund the mortgage till sale but so far it is not looking great. I used up most of my credit card to cover legal costs.
I guess it is what it is .