Can I buy a new house if my husband has an IVA and mortgage ?

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

Ali.v

User avatar
Posts: 2
Joined: Wed Jul 23, 2014 11:45 am

Post by Ali.v » Wed Jul 23, 2014 11:45 am
Can I buy a new house if my husband has an IVA and a mortgage on the existing house on his own name?
 
 

Adam Davies

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

Post by Adam Davies » Wed Jul 23, 2014 11:58 am
Hi and welcome

Nothing to stop you purchasing a new property in just your name if you can meet the lending criteria, it will be much harder if you want a new joint mortgage and your husbands IVA is still on his credit file

Good luck

Regards
Andam Davies
 
 

Ali.v

User avatar
Posts: 2
Joined: Wed Jul 23, 2014 11:45 am

Post by Ali.v » Wed Jul 23, 2014 3:21 pm
He is already on his 6th year of IVA as he had to reduce monthly payments, could a new house - which I will buy on my name, be asked to be sold to pay back the debt if my husband won't be able to remortgage the old existing house to release the equity?
 
 

Michael Peoples

User avatar
Industry Expert
Posts: 15189
Joined: Mon Nov 03, 2008 12:36 pm
Location:

Post by Michael Peoples » Thu Jul 24, 2014 9:34 am
You have no liability to your husband's IVA and
no obligation to even inform his IP of what you are doing. Provided the funds are all your own and you earn sufficient in your own right to service the mortgage I see no problem.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
http://www.mccambridgeduffy.com
If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com
4 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”