Mortgage - interest only

[#worried2019]

Hi. I have an interest only mortgage (due to a nasty divorce and not being able to make the repayments). Along with that divorce charging orders were placed on the property! The date for repayment of my mortgage is January 2026. i have no means to pay the amount owing and worried i will now be thrown out my home then. I am 58 with a daughter of 21 at home. Can anyone offer me any advice ?

[Percypig]

What have the Mortgage Company said do they know of the Situation? If it was me I’d try and sell the house if you can (you will get more money for it from a private sale) think the people who have the charge on the house would have to give their permission for the sale, not sure on this but can’t see why their’d mind as they get there money, they can stop the sale so I’d contact them first or write a letter explaining what you’d like to do. Don’t wait till 2025-26, Sell the house ASAP......hopefully you’ll have equity left, then just rent a place but sooner you act the better. Hope this helps Percypig