How can my ex get loans and credit when he doesnt live here anymore?
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We jointly own my house, we separated nearly two yrs ago. Only morg and council tax had his name on everything else was in my name. Yet he has been able to get cards and loans.
How is this possible?
If he has got loans on my house (i really hope not) wouldnt my signature be needed?
Also if he gets made bankrupt does it affect me?
My children and i dont want to move, i,m paying mortgage myself. What shall i do?
How can my ex get loans and credit when he doesnt live here anymore?If your ex partner moved out of your home 2 years ago, your solicitor should have advised you to get his name removed from the property deeds and all loans secured on your home moved into your sole name.
If this hasn't happened and you're living in a house that's registered in the name of your ex, then you are at risk. You can't sell your home, re-mortgage, pay off the mortgage etc. unless your ex agrees to cooperate with you.
It's normal for the mortgage to be in the same names as the property title deeds. If you're both on the deeds, you should both be on the mortgage, although you don't need to.
There are two types of loan. Secured (mortgage) and unsecured
(credit cards, hire purchase, standard bank loan etc.)
The secured loan basically states that your home isn't your property until it's paid off. It remains the property of the mortgage provider until you've cleared the last repayment. If your ex has the original mortgage in his name & the mortgage has been paid off each month, then he can probably extend the loan amount without you knowing. If there's enough equity on your home, he could borrow tens of thousands.
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