D
Denise Dilke
Guest
About 13 years ago whilst going through a divorce I was forced to sell our house and buy a smaller property that I could afford the mortgage on, house prices were dropping and it took 3 years to sell the house, by which time I was behind with the mortgage payments having had no help or money from my husband after he left.
On finding a small terraced property that required attention, I was only able to afford to buy if all the proceeds of the sale on larger property were put down as deposit, I had 3 children, 1 who was autistic and classed as severly disabled, I was working full time and with the help of friends was able to manage, just.
As the divorce was being finalised my ex husband allowed his 1/4 of the proceeds (£3750) to be used to allow me to purchase the new house, taking out a mortgage that I could afford for £22K.
Because I was in a desparate position I agreed and everything went ahead, providing I made no further claim on my now ex husband, who retained a 1/4 share in my house.
Two years ago my ex husband died without leaving a will, I have no idea if he left anything, he had a new family to look after.
What has occured though, I have been paying an interest only endowment policy that was seriously under performing, so looked into remortgaging, on checking the deeds the 1/4 share came up and it was decided that it was passed on death to his new wife, and I apparantly cannot alter or encumber the property with any further loans or mortgages unless the 1/4 share is paid off. (now approx £20K)
I only earn £11K so at 54 years old cannot raise the amount required on a mortgage anyway and don't know what if anything I can do, the house needs work again (new heating).
My disabled daughter now lives in a home but visits regularly, it seems that if these visits stop or anything happens to her, the house can be sold and I could be homeless, not having enough money to buy another property.
I don't know how anyone could be trapped in a situation like this, I can see no way forward, could anyone advise please.
On finding a small terraced property that required attention, I was only able to afford to buy if all the proceeds of the sale on larger property were put down as deposit, I had 3 children, 1 who was autistic and classed as severly disabled, I was working full time and with the help of friends was able to manage, just.
As the divorce was being finalised my ex husband allowed his 1/4 of the proceeds (£3750) to be used to allow me to purchase the new house, taking out a mortgage that I could afford for £22K.
Because I was in a desparate position I agreed and everything went ahead, providing I made no further claim on my now ex husband, who retained a 1/4 share in my house.
Two years ago my ex husband died without leaving a will, I have no idea if he left anything, he had a new family to look after.
What has occured though, I have been paying an interest only endowment policy that was seriously under performing, so looked into remortgaging, on checking the deeds the 1/4 share came up and it was decided that it was passed on death to his new wife, and I apparantly cannot alter or encumber the property with any further loans or mortgages unless the 1/4 share is paid off. (now approx £20K)
I only earn £11K so at 54 years old cannot raise the amount required on a mortgage anyway and don't know what if anything I can do, the house needs work again (new heating).
My disabled daughter now lives in a home but visits regularly, it seems that if these visits stop or anything happens to her, the house can be sold and I could be homeless, not having enough money to buy another property.
I don't know how anyone could be trapped in a situation like this, I can see no way forward, could anyone advise please.