Dont know where to turn!!

jules68

Hi, not sure if I am putting this in the right place but(have put on mortgage forum as well).....

Cut a long long story short, my now EX left a year ago and I stayed in the house.We are now divorced but still to sort the house out.It has gone to court(2nd hearing on Mon) and he has got 40% of the house to which a charge will be put on the property.

The judge has not allowed the consent order through as it needs a clause put it in to say that i will try to get ex off the mortgage if i can.

I have a ccj against my name(another story!!) so cant get a mortgage from high st bank.Also on low wage.

My question is what would you do>>>> I have been offered a mortgage with First National but at 7.44% I am currently paying 6.75 % with the mortgage I have now.So it would be an extra £100 or so a month.Also I have got a quote for fees to change over the mortgage which are roughly £700.So I dont know whether to just keep the mortg I have got albeit it would have to stay in joint names or just change the mort and struggle a bit

Sorry for long post.I am so stressed.Am trying not to get down but am not coping too well with this.

sallyx

Im not sure on this one but im sure someone who knows a lot more than me will be along soon
Good luck with whatever you decide

roomontheend

I to am not sure but thought I would bump this back up. I am sure someone will along soon.
ROTE

Shineyhappy

What sort of mortgage is it? Will the rate be fixed?

I was in a similar position to you and the first thing I did was draw up a full SOA and worked out if I could afford all the bills on my own. It was tough, so I got a lodger in (thankfully a friend) and that has allowed me to pay off my debts.

I changed my mortgage to interest only (although I can overpay 10% of the mortgage each year- I wish!) so that I could get the debt paid off quicker. Just over a year later, I have very nearly managed to pay off most of the unsecured debt (I had to borrow 10k at 7% on top of the 142k mortgage 4.9%). Once this has my next target has been met I can start getting together some rainy day savings and slowly start on my mortgage.

Have you tried out the brokers Martin mentioned?

jules68

The mortgage I would be getting is interest only fixed for 3 yrs I think.Its not worth me doing anything other than interest only as the 40% charge will go on the property for my ex so hence if I pay more off= he gets even more!!

Also if I keep the mortgage I have got ie it will stay in joint names and just the deeds in my name, can my ex take loans and stuff against the house as he is still on the mortgage although I am paying it.

In_Search_Of_Me

Dont know much about this but did get a rt from one of the cos Martin recc so worth a try at least. The other thing would be to ask yourslf whether actually a new start in a new home, free of your Oh in all ways, may actually be a good thing for you? While the moving it hard I know when I did it I felt so liberated of him when I moved; all those memories tied up just got too painful for me & it was a relief to move. I never looked back & walked away with my head high, decluttered and a new woman! Can he buy you out/you buy him out? As mentioned what about a lodger....Just a couple of ideas!! Hugs for you though as its a tough & devastating time while youre going through it...

jules68

I cant afford to buy him out as I am on a low wage.Yes have thought about selling, but would never be able to afford a house where I live.If I moved out the area the kids would have to move schools and they have had enough upset as it is so far.

I have moved my youngest in with meso I can decorate and rent a room out, just need to get in the right frame of mind to do it but I am sure it wont be as bad as I think it will be!!

I suppose changing the mortgage albeit at a higher rate would be one step nearer to being shot of him.Just need to save up £20000 to pay him off next(now theres a challenge)