question category: Bankruptcy

Will i loose my home if my ex husband is still on morgage.

I have been seperated from my ex husband since 2011 and divorced a few weeks. In 2011 my solicitor changed the morgage with the land registry to me as first point on morgage and him as second so he can not make any changes. He was to remain on the morgage until i got into full time work. The last year i have tried to get him off the morgage and was told my working tax credits did not tally up with my wages so i was declined to take over the morgage alone. He is now going bankrupt and i have roughly 30.000 profit in the property will my house be capped and will i loose the profit if he is still on morgage ?

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Re: Will i loose my home if my ex husband is still on morgage.

If your ex husband does go bankrupt then the official receiver will look into the details of the property to see if any of it is owned by him. They may then ask for his share of the equity to be paid into the bankruptcy. This could be by you providing a sum of money to buy his share out of the bankruptcy or it could be that the property needs to be sold to get the money out. However it could be that his share is very low or nothing at all so you may need to take advice from a solicitor to find out what his share would really be. If he does decide to go bankrupt you will know what, if anything, you may need to do.

This question was answered by Debt Advice Foundation, an independent UK debt advice charity. If you need further help, Debt Advice Foundation provides a free, confidential helpline and can advise you. Click here to find out more.


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