Confused about Bankruptcy

reeny1

Hi,

I'm just after some advice really. Yesterday my partner told me that he was made bankrupt 3 years ago, he was a sole trader and this happened before I met him.
We would like to get married this year and eventually buy a house together. I already own my own home, having worked hard over the last 5 years, was able to save over 50k for a deposit for it.
With him being made bankrupt, is that going to affect him ever getting a joint mortgage with me? I have heard bankruptcy orders get wiped eventually.
Should I also look into protecting my assets if we ever split?

Thanks

Hughesy84

Yes as it stays on your record for 6 years I think it is? Someone will confirm......

He will need to repair his credit file to stand any chance of getting any good rates. So if you plan on moving soon then you may need to get the mortgage in just your own name if you want a good rate.

And yes, get a pre-nup, job done.

debtinfo

i would look at protecting your assets anyway regardless of the bankruptcy as it is just a sensible thing to do if you are bringing alot more than the OH to the table to start with

confuzzled2012

It's simple enough to protect your assets, can do it through the solicitors. Even just co-habiting and him not on the mortgage you still need to protect assets as they can have a claim on your house, this happened my ex brother in law as he was engaged to be married and then they broke up and she took him for half equity.