Need some advice

roxy84

Hi, im not sure if im posting this in the right forum or not but anyway hopefully someone will be able to point me in the right direction.
Im trying to get some advice on my sisters housing situation, she is only 21 the story is:

She has been on benefits for a few years as a single parent, her boyfriend didnt live with her and they decided to get a mortgage together, my sister gave up her rented house and moved in with my parents while there house purchase was going through. This was delayed for ages and ages and then yesterday they finally got there keys, they went round to there new house and my sisters boyfriend has now decided he doesnt want the house and wants nothing to do with my sister (ars***le)

Now, where does this leave her? She is only on benefits and im guessing gets about £600 a month. The mortgage is in joint names and the payments are £540 a month interest only fixed for the next 3 years, they borrowed 106k (how i dont know) and the house was £119k She does have 4k in her bank that was compo that she could use to make the mortgage payments. Her ex boyfriend doesnt want to know, has shown no responsibility at all for the house or paying for it, doesnt want to move in or anything (i think he thinks its like buying a pair of jeans and then deciding he doesnt like them anymore)

What are the options available to her?

homer_j_3

They are both responsible for the debt so if the mortgage payments cannot be made, then the house will be repo'd.

How much of a deposit was there put down?

If the house sells for less than what is owed then they both will be chased for the debt. I would try and sell the house now yourselves and if you can maintain the mortgage payments then that will ensure that credit files are not harmed.

Tiddler_2

I would also tell her to speak to the DSS, she may not be entitled to any help with the mortgage, but if you don't ask you'll never know. (Normally you don't get help for the first 9 months, but seeing as she has been on benefits for a while she might get some or all of the mortgage interest paid)

She should also speak to her lender.

I would also tell her to explain to her now ex-boyfriend that if the property gets repossessed it will probably stop him getting a mortgage for at least six years.