Mortgage help

[andydingdang]

My wife and I have split, we have owned a house for 1 and half years. When we bought the hse we put 17 thousand down but have since taken a secured loan of 12 back. She has been offered a council place but they have said she needs to come off the mortgage before. Do you know if I can do this easily ? I don't earn enough to have a mortage to cover that amount so would need someone who earns the same as her to come in, maybe another family member. Bit of a mess to say the least. Selling would also be difficult because of mortage redemption fees and the loan redemption fees.

[Ethel]

Andy - you really need to take professional advice.

At least talk to your mortgage company in the first instance, although they will not be independent.

My best advice to you is to get all the information you can, and do nothing for as long as you can.

You need to think about it very carefully - it may be that selling or taking a lodger (tax free on the rent a room scheme) - will be good options for you.

Don't get into arrears in the meantime, tell the council you are single (25% discount in council tax) and don't do anything hasty.

I wish you well.

[erimus1]

Do bare in mind Andy that you cannot just take your wife's name off the mortgage - you need the lender's permission to do this as she also has a liability to make payments along with you - If you are not able to make the payments yourself, or even if the lender does not think that you will be able to, they will probably not allow her name to be removed. Your best advice would be to seek advice from your actual lender - they will give you the best advice as they have an interest in you being able to make good on your comittments.

Good luck.

[erimus1]

PS, I do believe that if you go to CC and get an occupation order for yourself, and an exclusion order against your wife entering th e proprty, this would suffice for the Local Authority's housing requiremnts for your wife - not that i'm tryng to help her in any way.

[andydingdang]

Thanks for your advice, I will speak to my mortgage company. I do think if there was a way my wife could stay on the mortgage but be able to get a council house this would be acceptable, to her (us)