www.iva.co.uk

Hi, I have had an IVA for around a year. I have gotten together with a girl and we are going to move in together. We have talked about putting my name on the deeds, so I would be jointly responsible for the mortgage. How does that affect the IVA? Thanks C

Hi there and welcome to the forum

Just inform your IP of your change of circumstances. If this improves your financial postion, expect to be asked to increase your contributions accordingly.

Be careful on putting your name on the Deeds:

1) you will become financially connected if you also become joint on the mortgage as well, which may cause your girlfriend problems with credit.
2) This could be classed as an after aquired asset, although you may have no equity now it may have in four years time and subject to your proposal/modifications you ma need to deal with this asset in four years time,

Thanks for the advice, I will think on this some more. C