My ex and I have been separated for a while, we agreed how much maintenance he would pay and how we would split the assets. 4 months ago he decided he was no longer happy with the arrangement and decided on another one. I explained this didn’t work for me and have been trying to get him to agree to mediation. 2 months ago I said I would get a MIAM and we would have to go to court and he then said he would do mediation. We were due to have our first joint session a fortnight ago and he cancelled and he is unable to reschedule till 30th August.
The problem is I am no longer able to afford the mortgage and the childcare based on my income and his contribution so this month the mortgage payment will bounce.
Is there any way that I can get an interim financial arrangement in place and how would I go about getting this in place in time.
The mortgage is under both our names but he is fine with it bouncing, in all likelihood I will probably have to sell the house and downsize so having a good credit rating is important so that I can get a mortgage approved further down the line.
FYI I think that he does pay the minimum child maintenance amount, this is more about covering the mortgage while we decide what we are doing with the property. Another FYI he is not easy to reason with.
not sure this is the right answer but my first idea would be to telephone the mortgage company and just see if they can offer a solution, maybe paying interest only for a period if you’re planning to sell? Surely that’s better than the payment bouncing
I’m not sure if this is still an option (you would have to check with your solicitor) but it used to be possible to file an application for emergency financial relief.
As previou post advises, find out if you can arrange a mortgage payment holiday, or if you can convert to interest only. Please talk to your mortgage lender so that they understand your situation asap. Also consider whether family could provide you with a loan. This needs to be legally drawn up. You could then list this as a liability (these are taken into account when splitting assets). Or an arranged loan with your bank. Only use these funds to pay any mortgage shortfall and keep a paper trail of payments for court.
It can be very dificult when someone digs their heels in, particularly when your ex will still want a share of the assets ie house.