Help with Mortgage problem

[michelle789]

hi all,

Sorry Dont really know where to post. I have posted in the shared ownership section aswell but need to get some advice here aswell! bascially myself and ex have so house together. Im just wondering would i be able to get his name of the mortgage and say get one of my parents on it? or go to bank get a new mortgage with dad and repay the council..and while doing that reducing mortgage repayments. its currently just over 1000pm 25yrs. Im not working am in reciept of about 320pw from sw. I know this all sounds like madness but have tried to contact council to find out options but having no luck in getting hold of anyone. sorry one other question would a bank even look at my aplication because i am only on sw? we are in the house about 3years and have never missed a mortgage repayment.

Michelle

 

[Senna]

It would really depend on who was going guarantor and their financial situation. If it is your father it will depend on his age and earnings, he would really need to be in a strong finacial situation and be able to service a mortgage for the next 25-30 years. Only the bank can give you good advice on this. It might be better to keep the current terms of the mortgage but ask the bank to go interest only for a few years, it would probably cut 300e per month off your mortgage.

If you are not getting any help/information from the council, you should approach your local councillor (they work for you, dont be scared of making them earn their votes, it doesn't mater if you didn't vote for them or even know who they are) and ask them to set up a meeting with you and the relevant persons or even tell them your story and ask them to find out the information for you.

Finally you could contact MABS, they are there to help in situations like this, they can offer great advice and even contact banks on your behalf.