IF i take out an IVA will that affect the house?

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nikkidg

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Post by nikkidg » Mon Nov 17, 2008 5:58 pm
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Although we are married my husband and I have seperate bank accounts. He pays hte mortgage adn the house is solely in his name. IF i take out an IVA will that affect the house?
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Chappie

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Post by Chappie » Mon Nov 17, 2008 6:02 pm
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Hi nikkidg

My husband pays the mortgage, I have been in an IVA since Feb 08, I have to release equity after 4 years with my IVA, so you may have to do that, but you should have no problems keeping your house.
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kallis3

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Post by kallis3 » Mon Nov 17, 2008 6:42 pm
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Hi and welcome.

I'm not sure about equity release if your house is only in your husbands name and only you will be doing the IVA. You won't lose your house though, Chappie is right there.

I'll bump this back up so that a technical expert can advise you.
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freelili

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Post by freelili » Mon Nov 17, 2008 6:52 pm
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Even if the house is in your hubbys name, you are married and may have a beneficial interest in the house, you would not lose it though. I am not a technical expert so better to wait. I think it depends how long you have been there or if it was all his before you went in, so to speak. If you are found to have any BI then a perentage of your share of the equity would he handed over in the final year or another year could be added if a remortgage isnt possible.
Last edited by freelili on Mon Nov 17, 2008 6:53 pm, edited 1 time in total.
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