Presumably there won't be a problem if she doesn't go on the mortgage?
I know when hubby and me got together and got our first house, I was advised not to put him on the mortgage until after he was divorced from his first wife as if anything had happened to him, she would have been entitled to his half.
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I cannot see how hyat would gain any beneficial interest in her futures husbands property that he owns and pays the mortgage on where hyat and the future husband share in whatever proportions the household expenses. Michael please elucidate?
Last edited by David Mond on Mon Feb 09, 2009 7:58 am, edited 1 time in total.
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
Currently Hyat must have a single I&E showing rent/board etc. If she does a joint I&E with her new spouse she will be shown as contributing towards the mortgage and all the general running costs of the property including maintenance. If this increased her monthly outgoings and lead to a reduction in her IVA payments creditors would be entitled to ask for the shortfall to be introduced from the property at the end in addition to any equity growth.
Her husband to be has every right to continue to collect his rent and keep his financial affairs to himself. I am sure he would not be too pleased to have to provide wage slips, a list of creditors and proof of expenditure to her supervisor to determine what her IVA payments should be.
Finally, if her new husband refused to have anything to do with her IP [on obvious grounds] can her IVA be failed for non compliance?
I don't think her IVA would be cancelled on the grounds of a future husband not being cooperative.
The future husband would possibly be responsible for up to (but not more) of the household expenses ignoring the mortgage. Her income will be increased by not having to pay rent and up to half of the outgoings being paid by her new husband. No other adjustments as far as I am aware.
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
There may not be much of a difference whatever way it is looked at and there are certainly alternatives views taken. A lot would depend on whether she is a lodger or lives in a rental property owned by her fiancee.
If she lodges and currently pays a rent and a contribution towards the utilities it seems unfair that the rent must stop because they got married. Her husband-to-be could have sought a lodger to help him makes ends meet and now would suffer a reduction in his income because he subsequently married his lodger. However,if she is renting a property from him and then moves into his own property after marriage, the rental property could be relet. If she only paid her share of the utilities at this time [and no rent]she may have an increased DI but again I do see why she could not pay a rent to her new husband.
