Hi my IVA started on 04/02/2019 and was completed via a full and final settlement on 29/01/2021
Like often happens living in an IVA causes strain on a marriage and I'm now in a situation where we are looking to get divorced and have to sell the house. I work full time and have a decent salary and no debts except a mobile phone contract but am needing a mortgage. Ideally my preference would be to take over our existing mortgage myself and for me to stay in the house, buying my wife out.
The house is worth approx 180k and has an outstanding mortgage of 34k which has no arrears or history of arrears. This is my ideal preference but would require a bit more borrowing. Failing this if we had a 50/50 split I'd only have 73k before seller fees and divorce costs. Realistically I'd still need about 110k minimum to buy a smaller house. Can anyone please advise of help
Don't forget that your credit rating will be shot for the full six years even though you completed early. You could speak to one of our two mortgage experts, either Ryan or Shaun (details under the experts link) as they have been able to help many posters.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Glad you are getting sorted - let us know how you get on.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
