Remortgage?

greybear40

At present I have a mortgage with my ex husband. We have been separated for 12 years nearly now and I am looking to remove my ex and bring my fiance in on the mortgage who went bankrupt in June 2008. It drops off his file in June this year. When he became bankrupt nearly 6 years ago he gave up his house due to the property having major structural problems and problems with damp etc so he could not afford to keep throwing money at it. It was listed in the bankruptcy. My main concern is if he is to go on the mortgage with me can Northern Rock start chasing him for the money for the house repossession as obviously he will now have an asset. My mortgage is extremely low (£26,000) and I would never do anything to jeopardise the home I fought so hard to keep. I know we will both be happier once my ex has no claim to the house and we both have security into our old age. Any advice would be most welcome

TheGardener

hi - I'm no expert on mortgages but if your fianc!s debts, included his house and any mortgage shortfall fell into his BR - then no, Northern rock can not pursue a BR debt from him - that would be illegal I think.

Whether they will allow him to become a joint mortgagee with you, regardless of the length of time since his BR is another matter....

greybear40

Thank you for your reply. We have seen a mortgage advisor who was recommended to us and he says we should have no problem getting a mortgage with Halifax who have changed the rules now and as long as your bankruptcy is over 6 years old you do not have to declare it. This is why we are waiting until the end of June before we go ahead and why we are using a mortgage advisor who checks the whole of the market in case Halifax is not successful. We also have a smaller choice of lenders due to the property being timber framed so this complicates it further! I was just a little worried about his previous repossession. Wouldn't want Northern Rock to try to claim the money back years down the line!