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paying mortgage

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18 Jul 12 #343965 by pranged
Topic started by pranged
Help please!! I have separated from my wife of many years and moved out of the family home. My wife continues to live there with two lodgers who are paying rent (undisclosed income). I cannot afford to continue paying the mortgage and the rent on my new property. The only children from the marriage are over 21 and working.
I offered my wife a very reasonable offer to buy me out of the home and for me to sign it over to her, but she has rejected this - she wants me to continue paying the mortgage while she lives there. Am I able to force the sale of the house? I know if I stop paying the mortgage the house would be reposessed and credit ratings affected. The house is in joint names. Divorce probably wouldn''t be possible yet as the separation has not yet been a year. I don''t know where to turn or what to do. Thanks in advance....

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18 Jul 12 #343966 by QPRanger
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Does your wife work? With two lodgers she must have the income to pay the mortgage on her own: tell her you are stopping the mortgage payments and see how she responds.
Have you seen a solicitor yet? If not I would suggest you do this asap as it looks like your wife is not going to be prepared to sort things amicably.

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18 Jul 12 #343969 by pranged
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Yes she works, so would be able to pay the mortgage, but mortgage company would be unlikely to give her a mortgage on her own. Should I notify the mortgage company?

I have spoken to a solicitor and have an appointment this week, but they seemed vague on whether a sale of the house would be enforeable. It''s all expense!!! :(

Thanks for the reply....

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18 Jul 12 #343970 by QPRanger
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Is the mortgage in joint names? I would certainly speak to the mortgage company and let them know the situation.
And yes solicitors can be very expensive: go prepared with any questions you have before you meet them (did you get the first appointment free as a lot do this).

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18 Jul 12 #343972 by pranged
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Yes it is in joint names. Thanks for the advice - shall speak to mortgage company to let them know of situation.

Yes the first hour is free, so hoping we can get a lot resolved in that time!

Thanks...

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18 Jul 12 #343977 by bluefairy
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Hi

If your wife is unable to take on mortgage on her own then she will be unable to buy you out.

she can earn aprox. £4250 per year tax free from a lodger but will be taxed after that. I think she may have to tell lender she has lodgers but I do not know if they would take lodger income into account for a remortgage.

Blue x

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18 Jul 12 #344040 by pranged
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Thanks for the info Blue.

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