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ReadyLaw, Lawyer
Category: Property Law
Satisfied Customers: 1846
Experience:  Bar Professional Training Course
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Jo, I have a mortgage which is interest only. I owe £57,000.

Customer Question

Hello Jo, I have a mortgage which is interest only. I owe £57,000. I am approaching 68 years old and have no chance of paying off my mortgage. I work part time and was looking to retire sometime this year as I am finding it tiring as the firm has moved and I have to catch 3 buses to work each day. My daughter lives in London and she said that she could be in a position to buy my house and let me live in it. Could I claim anything from Social Services for rent to help her towards her mortgage repayment. Secondly the house I live in is jointly owed by my ex partner, would he be entitled to half of any proceeds after the mortgage has been repaid, even though he has never paid a penny towards the mortgage and he hasn’t lived with me for 3 years. I would appreciate and help and advice you can give me. Regards Lorraine
JA: Where are you? It matters because laws vary by location.
Customer: Newcastle upon Tyne
JA: What steps have you taken so far?
Customer: just had the house valued today as I had no idea how much it was worth
JA: Anything else you want the Lawyer to know before I connect you?
Customer: cant think of anything
Submitted: 7 months ago.
Category: Property Law
Customer: replied 7 months ago.
Will I be getting a response today or is it too late?
Expert:  ReadyLaw replied 7 months ago.

Good day your question has been forwarded to me to see if I may be of assistance.

Expert:  ReadyLaw replied 7 months ago.

Thank you for your patience.
usually you would not be entitled to receive housing benefits if you reside in a home of a close relative. As such, if you were to live in the house after it had been bought by your daughter you would not be entitled to housing benefit.

if the house is jointly owned with an ex partner, the presumption is that you would be equally entitled to any interest realized from the property upon its sale. This position may change if you ar able to demonstrate that although his name was on the property is deeds, he made no contribution to it re mortgage payments. What I would recommend here is that you may see whether you could negotiate making som e payments to him, even if not 50 percent.

I hope I answered your question and clarified things for you. Kindly let me know if I may be of further assistance.

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best wishes