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Hello,
My ex partner and I(of 2 yr)have a joint mortgage for a property. My ex partner had an IVA whilst we together but missed payments after i left him which resulted inm him breaching the terms of the IVA agreement. His creditors have since been trying to chase him and secured the debt he owes against his share on the mortgage/deeds. Can you advise how this leaves me in terms of the joint mortgage? I dont want to continue with a joint mortgage with him? He has told me he intends to go bankrupt but he's been syaing that for the last two years and it appears is very reluctant to let go of the house (even though it is unlikely the lender would allow him a mortgage to keep the house on himself)! The last time we had the house valued it was in a negative equity and we do have an additional secured loan attached with the mortgage too. Can you advise how I should proceed to get him off the mortgage? Can I/mortgage lender force bankruptcy? Your help is much appreciated! thanks

Hi Helen and welcome to the forum

You could ask the mortgage company if they would be prepared to remove him from the mortgage, but with negative equity I would think this would be unlikely. Who is currently paying for the mortgage and secured loan at present?

Hi! You should seek advice from your mortgage lender. The lender will probably not bankrupt him as it is easier and cheaper to chase you for the full repayments. Same with the secured loan if it is joint names. Only your lender can advise whether they will release him from the mortgage while the property is in negative equity.

If the mortgage/loan is in joint names you are jointly and severally liable to pay these debts. That is to say, in the event of default, they can pursue either/both of you for the full amount of the debt until they are paid.

If the mortgage/loan is in default and there are arrears the lender(s) will want to realise their security (i.e. seek a sale of the property) and they can claim the full amount of any shortfall that arises from either/both of you.

Where a secured lender values their security they can commence bankruptcy proceedings for the unsecured element of the debt and claim in a bankruptcy.