i want to remortgage to get ex off my mortgage but I have an IVA

Get expert opinion. This is the place for new questions to be posted.
5 posts Page 1 of 1
 
 

Michelle.cr

User avatar
Posts: 4
Joined: Sun Apr 20, 2014 11:28 pm

Post by Michelle.cr » Sun Apr 20, 2014 11:28 pm
i want to remortgage to get ex off my mortgage but i have a iva . my boyfriend is willig to put his name on it but hes on disability benefits and gets 5250 a year . theres no equity i think because when i got it it was a 100 % mortgage .who will remortgage me with a iva . feel like im losing control of my life with ex still on mortgage but i want to keep my home
 
 

Adam Davies

User avatar
Posts: 14596
Joined: Thu Mar 29, 2007 12:21 pm
Location:

Post by Adam Davies » Mon Apr 21, 2014 7:59 am
Hi and welcome

I understand your frustrations however whilst you are in an IVA you are not going to be able to secure a new mortgage in the current climate

How long is left on your IVA ?

Regards
Andam Davies
 
 

Michelle.cr

User avatar
Posts: 4
Joined: Sun Apr 20, 2014 11:28 pm

Post by Michelle.cr » Mon Apr 21, 2014 11:36 am
hi i have 4 years left on iva . but i have paid the mortgage myself for 4 and half years myself .i feel frustrated because ex is willing to sign anything that gets his name off . but nram even before iva would not take his name off. i feel like i have no choice but to loose my home . i have worked so hard for it and cried so many nights .what im paying for mortgage is the same as what i would pay for rent .and iva counts my mortgage payments in so i know i can pay it . i have never missed a mortgage or iva payment . why cant they do a deal where they put my name down only on mortgage and if i dont pay which i will .take house of me .
 
 

UpToMyNeckInIt

User avatar
Posts: 607
Joined: Fri Aug 03, 2012 3:25 pm
Location: United Kingdom

Post by UpToMyNeckInIt » Mon Apr 21, 2014 1:19 pm
Hi Michelle,

No mortgage lender is going to turn a joint mortgage into a sole mortgage. From the lender's perspective, 2 people on the mortgage are a safer risk than one, even if the reality is that your ex couldn't care less what happens to the house, and you are paying the lot.

Once your iva is finished, & your credit file recovers, you might then be able to remortgage with a different company in your own name. By then, in an improving housing market, you may have enough equity to make this possible?

You will certainly wasn't to wait until there is some equity before disposing of the house, otherwise you may end up with an iva and a mortgage shortfall (remember it could cost say £5,000 in various legal and conveyancing fees to sell up).

Best stay put for now.

Good luck.
My opinions are just that: Based on my experience and being a self-employed IVA customer.
 
 

Michelle.cr

User avatar
Posts: 4
Joined: Sun Apr 20, 2014 11:28 pm

Post by Michelle.cr » Mon Apr 21, 2014 2:57 pm
could my ex force me to sell house because i dont have spare money to help me sell it or help me move . i have a 16 year old daughter with him but she wants to move out.she cant live with her dad he has no room .i feel ill has i feel i have no control what goes on in my life
5 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”