Bankruptcy & natwest one account

gazza3442

Hi all, I wonder if anyone can help me. My wife and I have a Natwest one account which is held on our home. It is not over the limit and has been run quite well.
My problem is that my business has struggled in the downturn. I have to many personal debts that have been incurred trying to prop up the business and having reseached I feel my only option is to go BR. My wife has no debt to speak of but we are jointly on the one account but she doesn't have sufficient income to take over the mortgage in her own right. Has anyone had any dealings with Natwest One in a similar circumstance, thanks in anticipation

David_F

Hi gazza3442,

Not sure if this will be of any help to you but I had a Woolwich Offset Mortgage with OD facility that was od by £28k which was still within the agreed limit.

When I went BR I phoned them to let them know I was BR but intended to continue making payments and also to buy back the BI when the time came. They were completely fine about it but did make a note on my file. I discussed the situation with my OR and she said that I should be careful not to use the account whilst BR and that part of my responsibility whilst being BR was not to have credit over £500 without first informing the lender that I was BR. As I had informed the Woolwich I should be fine but to make sure I didn't use the account.

I also took advice prior to BR from a company called Reviva UK who specialise in BR and stated there would not be a problem. The advice was free so may be worth speaking to them to put your mind at ease. https://www.revivauk.com