Mortgage with or without debt

memphis12

Hi I have recenntly went bankrupt. My fiance has a property we have lived in for a year in her name. We are looking to sell and buy another home.

Just a couple of questions if anyone can help.

1. With the positive equity we will be hopefully getting a £7k profit on the property. (bankruptcy has no interest in this property as I signed form before my fiance purchased it) So with this money would it be better to pay off some of her debt or to use it as part of the deposit.

2. My pay has been going into my fiance's bank for around a year. Will this be better for when she re applies for a mortgage? as when they look at her bank statements they will see an extra wage going in every month.

3. We have a baby now, will they mortgage lenders see this as a big minus? or will they add the £80+ we get in child money?

4. If I was discharged from bankruptcy would me being on the mortgage still be more bad than good when applying for one?

5. Is having a mortgage better, worse, or just the same for when people apply for a new mortgage? (applying once someone has made an offer on my fiance's property)

Thank you to anyone who can help. I know I might not have made much sense.. its been a longggg day lol.

Thrugelmir

Do you need to move? Maybe better to stay, pay down the mortgage, and let time heal your credit rating.

memphis12

Yeah we need to move mate. We have no family where we are, and with the new baby we feel it would be better being closer to our family after a couple of funerals as of late.

The house is in my girlfriends name, so we know she can get a mortgage..