You will need to provide a lot more details if you are to get any replies. How long is mortgage term, is it interest only. How much savings do you have. How much is house worth etc.Hi i am just looking for advise on the new personal insolvency debt writedown and wondering would i fit the bill?? I recently lost my partner and we have a mortage of circa 350k unfortunately no life assurance to pay off the mortgage! I am self employed earning less then 18k a year so not able to meet the repayments of 1200 a month. Worried sick so ur advice is greatly appreciated
You have 50K savings that would pay your mortgage for 4 years without touching anything else. I think you need to look at things a little differently...you are not the hardest up case out there by a long way.i would only have 1 bedroom to rent out as i have a little boy and house is only a 3 bed! You cant get mortgage interest relief until u are in arrears/payment option for a year tried to get it in the beginning! im still on a motorium at the moment as im trying for the bank to come to some sort of arrangement! But to be honest no matter what i cant maintain a 1100 mortgage,even if in 10 years time my circumstances wont have changed! Im hoping my bank will do something for me but im just wondering if all else fails i may need to go down this route! if u were a couple who both lost there jobs you could put ur mortage on interest only for a few years etc but my circumstances definitely wont change!
Have already looked into widowers pension we werent married so not entitled to it! just recently applied for lone parents allowance so waiting on that and not entitled tofamily income supplement as self employed you need to be paye
Monthly income €1500 (self employed )
child benefit €130
total income €1630
Electricity €70
gas €100
tv&internet €70
Mobile €130
food €400
petrol €150
house insurannce €40
health ins €60
mortgage protection €30
child care €150
total outgoings 1200
€430 left over to live on and pay mortgage
Currently on a motorium
no its not that i would prefer PIA but not sure exactly what other choices i have! to be honest i wont sell my house and even if i did i would be left with a mortage of circa 200/230 and paying that and renting somewhere isnt possible and to be honest i dont want to leave the family home as i have too much memories here! I know i cannot commit to a mortage of 1100 a month on a one income as a single parent! So no matter what way u look at it i will never be able to afford 1100 payments each year
Get good advice from a proper practitioner.Hi i am just looking for advise on the new personal insolvency debt writedown and wondering would i fit the bill?? I recently lost my partner and we have a mortage of circa 350k unfortunately no life assurance to pay off the mortgage! I am self employed earning less then 18k a year so not able to meet the repayments of 1200 a month. Worried sick so ur advice is greatly appreciated
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