hi im currently in an iva, own and have my own house. Me and my partner (post iva starting) want a baby and this will mean moving in together. Where do i stand renting my house out and will this dramatically effect my iva? will i have the option of going bankrupt when pregnant as I feel this would be the best option for us thanks katie
Hi Katie, BR is an option at any time, assuming this is the right route for you. If there is any equity in the property you own the OR will probably want to release this by selling up.
If you remain in the IVA there should be no problem with renting the house out whilst living with your partner. Should there be any profit element in the rental income this will have to be declared to your IP.
If the property is mortgaged you will also need the permission of your lender, who might raise your interest to a Buy to Let level. You will also require Landlord's insurance .... lots to think about.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
