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Paul.16
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- Joined: Sat Oct 18, 2014 12:59 pm
What if a joint mortgage exists with a partner having all debts in a IVA in his name the house has to be sold what effects does this have on the sale
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ginger323232
- Posts: 544
- Joined: Thu Jan 10, 2013 12:31 pm
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You are likely to find that the partner in the IVA with have to paid his share of equity into the IVA.
It highly unlikely that a further joint mortgage will be available - until the IVa is completely finished and off credit file.
The non IVA partner may also be affected by finanical assocation - and may find it difficault to get credit
The house is also likely to have a restriction on it - this will have to be removed before sale can complete
