Mumsnet has not checked the qualifications, experience, or professional insurance of anyone posting on Mumsnet and cannot be held responsible for any advice given on the site. Free legal advice is available from a Citizen's Advice Bureau, and the Law Society can supply a list of local solicitors.

Partner has debt from before he met me, what is the legal position?

(4 Posts)
Blue73 Wed 16-Oct-13 16:28:32

My partner and father of my baby is freelance and has always been at least £10,000 in debt due to cash flow, waiting on payments ect. However, he has always had work come in but never manages to get ahead. This year work has been scarce and he is further in debt. We are not married but now the time has come for us to move. I own my own flat and will make a healthy profit from it, which I will use as a deposit on a house. He wants to be on the mortgage for the new place saying work will pick up and he will pay half. As he will be looking after baby when I return to work I cannot see how he will manage to earn enough to pay his debt and make payments on a mortgage. Should he go on the mortgage and then find he has to declare bankruptcy on the debt will the house be seen as an asset and will we be forced to sell? Cheers

debtcamel Wed 16-Oct-13 16:42:16

Legally they are his debts and they stay his debts even if you get married or own a house together.

HOWEVER

If he has a bad credit record you must NOT link yourselves financially - it would make it harder for you to get a mortgage at a very good rate and bankruptcy would be a complete PITA.

If he is looking after the baby, you could consider paying off some of his debts during that time - after all the baby will be the reason why he can't earn a lot of money. That would be fair.

When his debts are clear, then you could consider putting him on the mortgage. And having an agreement as to how the equity in the house is divided.

This might give you some ideas: http://debtcamel.co.uk/snapshot/his-hers-debt/

Blue73 Wed 16-Oct-13 16:49:13

This is actually the way I thought it could go, so thank you.

NatashaBee Wed 16-Oct-13 17:54:21

I definitely would not put him on the mortgage if there's a risk of him going bankrupt. Yes, it could be considered an asset in bankruptcy, and if he has a bad credit score then it might hinder you getting the mortgage in the first place.

Join the discussion

Join the discussion

Registering is free, easy, and means you can join in the discussion, get discounts, win prizes and lots more.

Register now