Halifax Please Help

decko

We currently have a mortgage with the halifax.. the property is worth £140,000 and we owe £34000 and are in arrears for nearly £5000 and also have a property charge on the house for £14000. I am currently paying £500 pcm for 15 years on a variable mortgage.. I know i am paying way too much monthly and i need some desperate advice what anybody else would do.. my partner is disabled and the government pay £107 pcm towards the mortgage and i pay £395 in total £502 which is over 15 years.. can anybody help please.. I was also looking at borrowing some money on the property but due to the charge on the house we cannot do this.. any advice would be greatly appreciated

minimike2

Have you spoken to citizens advice?

Im trying to get my head around how you can be £5k in arrears on a £34k mortgage and fear that if its that bad a situation then there must be some underlying cause that you havent said that will render any advice useless. Therefore my advice would have to be CAB.

Noz

Increasing debt would be the last thing I would advise

decko

Got £5k in arrears through accident at work with no payment protection.. that includes around £1k minimum in charges. thank you

Conrad

No ethical lender will offer you any further finance. If they do they are will be lending irresponsibly.

I agree, go and see the CA. You might want to consider selling up and protecting what equity remains. Please then only put it in a safe Building Society account - do not be mislead into investing in anything with risk (plenty of sharks out there that are very good at conning people - never take the chance).

I see no other long term solution. If you are in arrears now, you will surely get into even worse arrears with increased borrowing unless something fundamental has altered your behaviour (if you do what you always do, you get what you always get)

Good luck

dunstonh

+1 on Conrads response.