Finally pulled my head out of the sand!

Louoffofsparkle

It’s good that you have got a plan in place but is there anyway you can defer the payments for a couple of months to build up an emergency fund?

beanielou

Louoffofsparkle wrote: »

It’s good that you have got a plan in place but is there anyway you can defer the payments for a couple of months to build up an emergency fund?

Agree with this.

warby68

Just take care not to rush ( I know I've said this already lol)

An emergency fund would be so useful to avoid using credit again once you start repaying. Its very common to defer the start of the plan a short while to achieve this.

And are you sure that your proposals and the extent of your financial links or otherwise from your husband are the right thing for the remortgage?

Would it be better to do it after the remortgage? Apologies if you already have this sorted.

Rolacolapink

So today had taken a very sour turn. I feel so alone right now but using all I have to fight to try and turn this into a positive.

Ok, so in and amongst all this mess we had started to build an extension on the side of our house. We have used savings to start the project and now as my husband has come to remortgage our house to take out a bit extra to finish the extension we are now faced with being either unable to remortgage due to me starting a DMP (it’s not physically set up yet) or accept a crappy mortgage deal.

Does anyone have any experience of trying to remortgage in just their spouses name? How can I take myself off the mortgage? Is that even possible if we are still married?!

Thank you in advance

beanielou

As far as I know you can take yourself off the mortgage as long as your husband has sufficent income to be able to take on the mortgage in his own right & pass the affordability tests.

Rolacolapink

Apologies to the posters above replying this morning I have only just read the messages. I feel like I have no choice but to rush to prove to my husband that yes I have got myself into this mess but I will make sure I get out of it ASAP. I’ve started detailing every single thing due out of my account every month and will show him those figures regularly so he can see I’m not going to get into this position again.

Rolacolapink

Plus on a DMP you cannot take out new credit

Rolacolapink

beanielou wrote: »

As far as I know you can take yourself off the mortgage as long as your husband has sufficent income to be able to take on the mortgage in his own right & pass the affordability tests.

Thank you, I don’t think there will be a problem with that he’s on a good income through self employment and it’s been stable for the 10 or so years the business has been running.

Willing2Learn

Hi Rolacolapink,

I haven't got a solution for you. But I do know that there will always be options. I see you have started a thread over on the mortgage board. Some of the members there are also mortgage brokers, so if there are options, then I'm sure they will be discussed over in that thread

I wish you all the best and am keeping my fingers crossed for you.