Arrears in mortgage, separated, MARP now..

D

dubinamerica

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Hi, i'm separated from my husband over two years now. I do not as yet have a legal separation. His name is on the deeds and mortgage of house. I am not currently working and looked into getting MIS but was told I was not eligible because his name is on the property.
I have struggled to use savings and social welfare income to cover bills. I have other savings but cannot access as husband refuses to sign withdrawal.

I could not pay mortgage for Sept and paid over half. Got a letter today to say there are arrears and that we are in MARP..

During the life of mortgage we have made significant overpayments of lump sums.

I have a financial statement to fill in as does my ex but he may not do this.
What are the possible outcomes? Can the bank demand access to our joint savings? I would have no issue with this to cover mortgage. I am looking for parttime or full time work but there are limited opportunities where I live and when I factor in childcare costs I could end up worse off financially. My best option appears to be part time and claim FIS but I haven't found an opening.. Any help appreciated..
 
No, I don't believe so. bought the property in a rural location back in 2006. Even if the price dropped 50% would still have some equity..
 
That's good news, would you not be better off selling? You would have some return then on your house and you also have savings? You possibly could move somewhere it is easier to get work? And it would mean a clean break from your ex.

If you continue as you are you will eventually end up in negative equity, that's after you've been forced to use all your savings to repay the mortgage.
 
Hey Bronte, have actually been thinking about this a lot last few days. If I did sell, well I'll have no home but if things continue as are, I'm going to continue building arrears either way. I am tied with everything right now in that I can't put the house onto the market as house is in both names so don't want to overstep the mark. But I could get it valued. My fear is what would I be left with and where would I live. My mum has a council house and I could move in with her, but that's in a different county and there's access to consider. To be honest, if I didn't have the house where I live there is very little to tie me here as the children are very young.
 
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