Advice required

Cogsy_neilCogsy_neil Forumite
4 Posts
Second Anniversary First Post
MoneySaving Newbie
Hi all could be a long one so apologies! Me and my wife (we have a 9 year old son)seperated last March when I found out she had massive gambling debts of over £115k I moved out of the home we own (mortgaged with NatWest and a secured loan with Precise) and rented for 6 months, after literally a month (she didnt even tell me she was going to do this) she applied for Bankruptcy, she made arrangements with NatWest to pay half the mortgage basically for 6 months as we were going to sell the property as obviously her share had been taken over by the bankruptcy trustee who had placed a charge on our property.  I moved back in after 6 months and she moved out as she hadnt been paying the secured loan either and they were on the verge of taking steps to repossess the property.  I made arrangements to overpay to clear the arrears on the secured loan and on the mortgage (and pretty much every utility she didnt pay when she lived here pretty much for free).

I made an offer to the Bankruptcy trustees to buy back the share of the property which was accepted and Im due to make the final payment of around £15k end of next month.  My question really is what happens then? I assume her share will then revert back to her? My other concern is getting her off the mortgage as well, so that I could afford to move out I had to go into a DMP with Step Change (the alternative was staying together and that wasnt fair on her her or me)  I know if I call NatWest to get her off the mortgage they will credit check me and say no because of the DMP im sure, now if they do I was going to go to the Ombudsman as surely taking off an ex-bankrupt is actually better and they can see that I have been making the payments for the last 7 months and I can afford it income-wise.

Any help or advice would be most welcome


  • MEM62MEM62 Forumite
    3.5K Posts
    Eighth Anniversary 1,000 Posts Name Dropper
    If you have bought your ex's beneficial interest from the OR then it is yours.  It does not revert to your ex.  
  • TripleHTripleH Forumite
    662 Posts
    500 Posts Second Anniversary
    Are you divorced? If the Op isn't does he end up back in a position whereby his 'ex-wife' delays getting a divorce until she is discharged so she can then reclaim back half the value of the house (or more) when they do seperate?
    Wherever you go, whatever you do Richard Marx is right there waiting for you.

    Sweet dreams!
  • fatbellyfatbelly Forumite
    16.6K Posts
    Part of the Furniture 10,000 Posts Name Dropper Cashback Cashier
    The ex's BI has been dealt with. I cannot see that she can have any claim on the property now, and the land registry entry should have been amended.

    The mortgage may be more tricky. I'd suggest putting the request in writing rather than calling. 
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