im a sin mum and may be made redund, if so how long will housing pay my interest 4 and do i have to top up?

Question

i am a single mum and maybe being made redundant soon, my morg is around £700 month and interst is £500! i only bought the house 18 months ago, how will i get help with it and for how long, will i have to sell my house? will i have to make up the rest of the payments myself? please help x

Answer 1

go to the citizens advice bureau asap and get the facts then you will know how you stand.

Iwish you the best of luck

Answer 2

There is a waiting period before the DWP will start paying your interest. I think its 39 weeks, but I could be quoting wrongly there. If there is a shortfall between what is due and what is paid you'll have to make it up. Your lender may also want the shortfall between the interest and the full amount (ie £200) paid too.
If it comes to selling the house, and your lender wants to evict you you can ask the court for time to sell.(section 36 of the administration of justice act). They can give you a few months grace to try and sell at full market price.
CAB can give you the exact details of the interest and the rate it will be paid at.