Recently separated, can I afford the mortgage?

Posted on 27 January 2010 by Rebecca Earnshaw

I have recently separated from my partner who is in no position to pay any of our mortgage. I am struggling to work full-time with two young children but am not sure if I can afford to pay the mortgage if I work less. What can I do?

The first thing you must do is talk to your lender.  No lender wants to take possession of anyone's home and it is in their interests as much as yours to reach a realistic solution with you.  There are many opportunities for reducing your mortgage outgoings, such as making interest only payments, extending the term of the mortgage or even taking a payment holiday.  Which is the best one for you will depend very much on your individual circumstances.

You should also speak to your local Citizens Advice Bureau.  They provide free, confidential and independent advice and can help you resolve debt, benefit and housing problems.  They have experience in speaking to lender's and will hold you hand through the negotiations.


Answers provided in response to Ask the experts are based on the information provided and do not constitute advice under the Financial Services & Markets Act. They reflect the personal views of the authors and do not necessarily represent the views, positions, strategies or opinions of John Charcol. All comments are made in good faith, and John Charcol will not accept liability for them.

We recommend you seek professional advice with regard to any of these topics where appropriate.

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