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Would I be able to take a mortgage if my partner is bankrupt and his equity is taken ?

6 years ago - Posted by

My parther and I have been living in his property for 6 years. Since his business has gone into liquidation he had to make himself bancrupt and now the property we live in is sold and the equity will be taken by the bank as it was a security towards his business. We have never had any joint accounts and our finances have always been separate. I am trying to apply for morgage on my name at present, however I have been declined by 2 lenders. What should I do? We have got 1 dependent child. Am I entitled to any money of the property at all?

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1 Answer

TAD Member

6 years ago

If during the 6 years you lived at your partner’s property you contributed to the household bills and expenses you may have a small ‘beneficial’ interest in the property and as such a proportion of the equity contained with it. However this would be at the discretion of the Official Receiver.
It may be beneficial for you to see an Independent Financial Advisor who will be able to consider all the options available to you.

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