www.iva.co.uk

Hi,
I have an IVA running at the moment which is due to finsh a year in August. My question is im now living with someone who dosent have any bad credit and owns her own property. She wants to move and i would like to to but go on the mortgage with her as the 2nd person so that we can get a better home. Is this possible and also how will it affect my IVA, i know i can get a mortgage while on an IVA but the deposit would be from my partners current property and also i would only be the additional person on the mortgage? Sorry if ive rambled a bit, any advice you could give me would be very much appreciated.
Kind Regards
Lee

It would be possible as long as it didnt interfere with your IVA payments but i dont know where the house would then fit into the IVA.
Would you not be better to wait until your IVA is completed before having your name added to the mortgage?

You may find it hard to get a mortgage whilst still in your IVA, and if you did there is always the possibility that it could impact on your payments.

If you have joint finance with your partner, it could impact upon her credit rating and she would have to file a notice of disassociation with the credit agencies.

I agree with Mrs S that you should wait to have your name added.

Also the problem that if the new home increases in value you might have a potential windfall to contend with.

My advice at this stage is either to stay where you are or don't go on the mortgage for the new home yet.