Buying a house but partner going bankrupt

I can I get some advice my partner has a house in negative equity of 100,000 he is looking at going down the bankruptcy root. He has been paying for this up untill last year when he developed epilepsy and is now on sickbenefit till he get the proper medication. He has recently moved back in with me and our children.

I have been saving for years to get a house for myself and our children and have finally found somewhere within my budget (with a little help from my mum) found a house I would like to buy for 70000 cash.

I need advice from you will his bankruptcy be affected by me buying a house when they could arque that I could have put the money into his house. His house is not suitable it is a masonette with no garden and no safety for children. I would really appreciate your views on this matter.

Kind regards Mari

Nothing to do with them. You have nothing to do with his debts.

It has nothing to do with you legally.

However, given his situation, he should be looking at doing a deal with the lender to sell the house and get the shortfall written off. If they know that he has moved in with someone who has just bought a house for cash, it will smell wrong.

There is nothing wrong with it, but I would hold off until he is sorted out.

There is a small possibility that the lender might write off his shortfall if he (i.e. you) paid €10k towards the shortfall. Would that be worth avoiding bankruptcy for?

Brendan

Are we sure that Rion is not on the mortgage for the partners house.

That would change things completely.

Cheers guys for your opinions, Brendan how would he go about this would he write to his lender, they have stopped calling him as he did not answer the phone when their solicitor called him. Is he best to be in contact with the solicitor.

If I was to put 10000 towards his house I would not have enough money to buy a house and would have to rent & try an save for another 5 years and my mums offer of 20000 might not be there for me in 5 years

I had nothing to do with his house he bought it before we got together..

regards

Marii

He should avoid dealing with their solicitor if at all possible. He should call the guy he was dealing with in the bank.If they have issued legal proceedings though, they might not want to deal with him. He should explain his situation.

It seems clear to me that it is in everyone's interest for the bank to do a deal directly with him, rather than involve a Personal Insolvency Practitioner. Unfortunately, the banks don't see it like that yet.

I think you should keep your money for the moment. If making a small payment clears his debts , maybe it would be worth it. That is for you to judge.