I am at the stage of my IVA where I am to attempt a remortgage, however my IVA is in my sole name & my mortgage is in a joint name. My partner does not wish to remortgage, so I am stuck. Any advise?
The chance of a remortgage in the current economical climate is slim to zero, so it might be a moot point and, as Andy says, a 12 month extension is the more likely outcome.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Hi Rell - check the terms of your IVA - as the others state the norm is that if you cannot/will not remortgage you have to continue paying into the pot for another year.
This really should have been addressed at the beginning. His consent would have been required and the restriction signed in both names. If he now refuses creditors could demand bankruptcy proceedings especially if there is significant equity. They may accept an extension but some such as HMRC will want the equity released.
