TRS after marriage

[Larry Duff]

Hi,
my wife and I married some weeks ago.

We both jumped on the property band wagon before we met, and got burned ... she has a property in negative equity of -180K, and mine is -100K.

Our mortgages / properties are in our own names only.

She has told me that she has been having difficulty meeting repayments since she took out the mortgage. I've met all my repayments.

When we notify revenue that we are married, will this automatically have a knock-on effect on our TRS credits and Revenue will notify the banks?

I have enough on my plate and I do not want her mortgage provider trying to lasso me in.
Thanks!

 

[peteb]

Is one of your properties rented out? Or are you living in seperate houses? If its rented out, has either of you told Revenue of that?

Her mortgage provider can't pull you into anything. its her name on the mortgage and deeds.

 

[Larry Duff]

Thanks for your reply PeterB.

I haven't rented out my place as I've a long work commute, >2 hours each way.
I'm spending 2 nights a week there, but I will have to look at renting it.

I thought that being married would change her 'financial circumstances' in the eyes of the bank, and they would hound her over this.
She's had to take two pay cuts and is not making ends meet and I am barely meeting my outgoings.
Her bank have mentioned to her a few times on the phone about borrowing from a relative or close family member, to clear the arrears.
I thought if they knew she is married, they would hound her on this.

 

[peteb]

Of course they want her to borrow for someone to repay. But they cant make her. your debts are you debts and hers are hers. Marriage doesnt change that. You just may feel morally responsible as it will be you watching her deal with it.