Ex considering bankruptcy, could they take our house?

[Diana M]

Re: Ex considering bankruptcy, could they take our house?

I've just been to the bank and they have confirmed that they will take all my income into account, not just my salary, and they will lend me enough money to buy him out. I can't tell you how excited I am about this! I can also borrow an extra £10k to give him and then pay him the outstanding money within 5 years.

So, once he's off the mortgage does that mean he no longer has any right to move back in, leave his stuff here (half of the garage is filled with his things at the moment) or have a key?

I'm excited for you too

Do you mean your own bank will grant you a remortgage on the property so you'll escape the original lender's joint loan with your ex?

My only immediate advice would be let's keep this a secret until all the legal known unknowns have been addressed.

I cannot comment on your relationship with your ex, but if he thinks you can manage without him he may not be too willing to co-operate. What you want to avoid is him filing for BR which is an idea he has flirted.

At the moment you have an agreed Mediation deal which has not been ratified in law. The last thing you want is for him to put a spanner in the works (or his new partner to encourage trouble).

It's not unheard of for an 'amicable' separation to turn sour when one person feels the other has an advantage.

Is your ex paying Child Support for your 13 year old lad? Teenagers tend to be expensive.

Di

[Diege]

Re: Ex considering bankruptcy, could they take our house?

Yes, my own bank are willing to remortgage - the original loan is with them too.

I have two girls, 15 and 13, and he's currently paying £200 per month towards their keep. Until this time last year he was paying £580, which could be construed as paying towards the mortgage but he went to £200 in November last year.

I am now also able to look for a part time job rather than full time, which will free up my salary for him

And having talked to family I'm not going to offer him £10k as I can use it to sort my bathroom out

[Diana M]

Re: Ex considering bankruptcy, could they take our house?

I have two girls, 15 and 13, and he's currently paying £200 per month towards their keep.

. . . . And having talked to family I'm not going to offer him £10k as I can use it to sort my bathroom out

That's the spirit

My apologies for referring to your chid as a son when that's not the case.

You have two teenage daughters. I'd be surprised if £200 per month would cover their costs. I have a daughter (now aged 30) and that would have barely covered her mobile phone bill and Spotify account at that age!

Di

[Diege]

Re: Ex considering bankruptcy, could they take our house?

We've agreed that every year after his accounts have been done he'll make a payment so that the annual payment equals 20% of net profits after tax. If there's no profit he doesn't get a refund on what's been paid. £200 per month is nothing but I didn't have the energy to fight him at the time

And no worries about about my daughter's sex change 😜

[Diana M]

Re: Ex considering bankruptcy, could they take our house?

£200 per month is nothing but I didn't have the energy to fight him at the time 

But you do have the energy to fight him now

How much is in his pension pot? I think you may have mentioned earlier that you agreed not to go after that.

If that Mediation agreement isn't legally binding you may have the opportunity to change your mind about that.

Di

[Diege]

Re: Ex considering bankruptcy, could they take our house?

I don't think there's much in his pension, he started it about 15 years ago and hasn't paid into it for the last year or so. I'm happy to leave him with it as I've got a pension from a job I left 14 years ago and I'd rather have a clean break from him. I just want him to take his belongings out of my garage as soon as the mortgage paperwork is complete. Otherwise I'll charge him storage and I'll take it off what he's owed for the house.