My husband & I separated over 2 years ago and agreed to pay half the mortgage each until the financial side was sorted out. Due to his stalling it has taken 2 years and now we have been ordered to sell our house and split the equity. Due to his dissatisfaction with his settlement he now is not paying any of the mortgage. I cannot afford to pay all the mortgage & the arrears are now £300. Alliance & Leicester have agreed to let me pay half the mortgage until January when the situation will be "reviewed". The house is on the market but due to the economic climate it has not sold yet. Can A&L re-possess if I am still paying my half (and more when I can) and how long do you think it will take? If they re-possess do they put it on the market for a much lower value and then just take the o/s mortgage? If so, I won't be able to afford to buy again. I don't know anyone who's had a house repossessed so don't know what will happen.

-- Margaret Vaughan (margaret.vaughan@wspgroup.com), November 27, 2001

Answers

Hi Margaret

I would make an arrangement with the A&L to pay the arrears off. You would be best selling the house rather than handing the keys in, it will sell eventualy be sure of that and then the £300 wont seem such a large burden. If nessasery go back to your solicitor and tell them what is happening. They may be able to re-negotiate the settlement with you keeping the house, then seeing if you can remortgage over a longer term to bring the payments down to a more manageable level.

Good Luck

JonS

-- JonS (jks_uk2001@yahoo.co.uk), November 28, 2001.