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Advice on arrears situation
eenysmum
Posts: 34 Forumite
Due to a complicated situation with my ex husband I am stuck in a joint mortgage with him that this months changes from interest only to repayment meaning a hike of £200+ per month in payments.
The bank have agreed to revert it to an interest only payment for the next three months whilst I try to sort things out and get the house in my name (I have a cheaper mortgage ready and waiting) and are happy to review it again after that as they know the situation is to some extent out of my control (My ex husband is paying nothing towards the mortgage).
My concern is that this arragement with the bank will officially put me into arrears which will affect my credit rating. Should I risk using my savings to up the mortgage payment thus avoiding arrears and credit problems but risking investing my own money into something that is jointly owned and therefore could potentially be taken away from me by my ex.
Any advice would be appreciated.
Thanks.
The bank have agreed to revert it to an interest only payment for the next three months whilst I try to sort things out and get the house in my name (I have a cheaper mortgage ready and waiting) and are happy to review it again after that as they know the situation is to some extent out of my control (My ex husband is paying nothing towards the mortgage).
My concern is that this arragement with the bank will officially put me into arrears which will affect my credit rating. Should I risk using my savings to up the mortgage payment thus avoiding arrears and credit problems but risking investing my own money into something that is jointly owned and therefore could potentially be taken away from me by my ex.
Any advice would be appreciated.
Thanks.
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