Thanks adrian, but the secured loan is with blemain finance and was taken out last year, and I do not think that he can clear this anytime soon,

Thanks for the advice

You are in a tricky position, I'm not sure I can offer light at the end of the tunnel.

My feeling is that the secured loan is probably at a higher interest rate so, given GMAC aren't playing ball, concentrate on clearing the secured loan. But, i just have a little worry about your husbands contribution towards clearing this faster than scheduled and maybe you should see CAB to get a bit of advice.

Once the secured loan is clear you stand a better chance of getting a better plan underway, but I think most plans would have the secured loan going first.

hope that helps a little bit

Adrian

Hi everyone this is my first post,

I have a mortgage with GMAC, have been with them since 2005. Mortgage is interest only. I am on income support and lower rate disability allowance. The house is in joint names but I am separated from my husband and he does not have anything to do with the house, he does not pay bills, mortgage, I have been doing this myself for a very long time. The DWP pay around £280.00 a month and I pay between £300.50 -£360.00 depending on the ups and downs of interest rates.

My mortgage is for £105,000.00 and my husband took out a secured loan of £37,000.00 in Jan 2008. This is in both names.

I am having now to rely on my overdraft account to keep paying my mortgage. The problem is that I cannot seem to see me coming off income support in the near future because of my mental and physical pain that I am suffering, I am on medication and receive treatment from my G.P.

I would like to switch to a repayment mortgage but GMAC say that I have to be off benefits for 12 months. I cannot transfer my husbands name off the property, because there is a secured loan in both of our names. I am not getting any younger and as the future does not look too bright at the moment for a lot of us, I am worried that I will be stuck on an interest only mortgage forever. And I don't know what people who are on benefits can do about their mortgage. I do not know if I can change lenders. Any help will be very much appreciated. Thanks to all in advance