geteven2009
Registered User
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I and my wife moved to UK in 2009 and continued to pay some part of mortgages with agreement. we moved to UK as we got jobs here after being unemployed in 6 months and cannot face the shame of standing in Q of dole, dole was any way rejected as we were branded as 'big' property investors and( we are not. just thought we are saving for our future retirements)
now we are planning for bankrputcy on all the 8 mortgages we have with the bank. ( please no ethical advises, just want to come out of situation of having no holiday for last 4 years and living to bare line, taxes, repairs, rental shortfalls etc)
all our mortgages are in joint names, but i managed and paid for last 9 years from my current account
i want to go bankrupt and wish to save my wife from the hassle of bankruptcy process and the life after bankruptcy, she is employed in financial services so bankrutcy will ruin her career permanently. i would like to face consequences rather than both.
question:
how do i take my wife's name off from all mortgages( wife is willing to sign or give up right as it is discussed)
what problems might arise from bank?
what is the process and how much will it cost?
to repeat, the plan is to get all houses and mortgages transferred into my name and then i go bankrupt. so that we have only one bankrupt in the house and one person take the responsibility of actions and misjudgements we made in property purchases.
I and my wife moved to UK in 2009 and continued to pay some part of mortgages with agreement. we moved to UK as we got jobs here after being unemployed in 6 months and cannot face the shame of standing in Q of dole, dole was any way rejected as we were branded as 'big' property investors and( we are not. just thought we are saving for our future retirements)
now we are planning for bankrputcy on all the 8 mortgages we have with the bank. ( please no ethical advises, just want to come out of situation of having no holiday for last 4 years and living to bare line, taxes, repairs, rental shortfalls etc)
all our mortgages are in joint names, but i managed and paid for last 9 years from my current account
i want to go bankrupt and wish to save my wife from the hassle of bankruptcy process and the life after bankruptcy, she is employed in financial services so bankrutcy will ruin her career permanently. i would like to face consequences rather than both.
question:
how do i take my wife's name off from all mortgages( wife is willing to sign or give up right as it is discussed)
what problems might arise from bank?
what is the process and how much will it cost?
to repeat, the plan is to get all houses and mortgages transferred into my name and then i go bankrupt. so that we have only one bankrupt in the house and one person take the responsibility of actions and misjudgements we made in property purchases.