Ski-ing up slope!

young321

Hi All

So my family have been given the opportunity to purchase the house we rent or we will be served a Section 21 notice and given six months to find a new home! The owners are being very nice about it all given we've a young family of three children and offered the house at an amazing £30k discount from market value!

However, whilst my credit file is squeaky clean my husband's isn't! I can't unfortunately purchase a house solely in my name as I have done affordability calculators with mortgage advisers.

So my husband went bankrupt back in 2015 due to ex-wifey debt. Not so bad you say as 6 years is up in November! Hurray! HOWEVER....there was a house they both owned together involved and as there were tenants in it at the time of bankruptcy it wasn't re-possessed until 2018 and then sold 2019 and I don't believe the sale covered his debt with them. My husband has contacted The Nottingham (the mortgage folk) to ask them to reflect his credit file of the discharge from bankruptcy in 2016 however their response was as above and that they sent a 'proof of debt' form to the Insolvency Officer February 2019 so I think what they're saying is that this item will stay on his credit file for six years from 2019 (being 2025?!)

My question in hope someone can advise further is - is what The Nottingham are saying is correct? Or can we do anything to get his credit file updated to align with the discharge from bankruptcy in November 2016?

I'm really hoping there is! 

Thanks in advance and really look forward to some good news!

sourcrates

Sorry to be the bearer of bad tidings.

Debts accrued prior to his bankruptcy, vest in his bankruptcy, and any default dates must be no later than the start of it.

Unfortunately the same does not apply to debts accrued after he became bankrupt, so the default date for the mortgage shortfall debt will be correct, I'm afraid to say.

However, many former bankrupts are able to obtain mortgages, you may just need a good broker, was the shortfall debt paid off, or is it still outstanding, because if it is, that will also count against him.

young321

Thanks @sourcrates for your response. So even though the mortgage was included within his bankruptcy petition paper work it isn't due to the proof of debt form being issued 2 years later? 

I'm not 100% sure if there's still any money owing