If I am FSA regulated

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Rajd

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Post by Rajd » Mon Jul 09, 2007 5:34 pm
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If I am FSA regulated as I work in an investment bank and go into IVA - will this affect my FSA status?

Also I do not have a mortgage now - will going into iVA stop me from obtaining a mortgage?
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MelanieGiles

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Post by MelanieGiles » Mon Jul 09, 2007 8:26 pm
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Hi Rajd and welcome to the forum

You will need to check with the FSA directly, as they do seem to keep changing their policy with regard to members proposing IVAs. An IVA will not stop you getting a mortgage, but you will need to be able to put a deposit down, and if you have spare cash or savings now these will need to be declared and handed over as part of the IVA. You will also probably have to pay a higher interest rate, as you represent a higher credit risk.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk
Regards, Melanie Giles, Insolvency Practitioner
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