www.iva.co.uk

Is it possible to rent a property through a estate agent while in an IVA? My partner has nothing to do with my IVA but wants to buy our first home with help from parents but have researched i.e. deposit being so high so we feel we will need to rent a small house of flat at first.
Thank you.

Hi,

You won't be able to get a joint mortgage due to your IVA. Could you rent just in one name whilst the IVA is running? Perhaps phone a few rental agencies anonymously and ask what their stance is on IVA's?

I agree. Get the rental agreement in your partner's name as he would pass a credit check.

Hi Amy,

There are Lenders who would offer a Mortgage just in your husband's name possibly up to 95% of the value of a property but it would depend on what his income was (and a few other things) as obviously they wouldn't take your income into account.

Ryan wrote:

Hi Amy,

There are Lenders who would offer a Mortgage just in your husband's name possibly up to 95% of the value of a property but it would depend on what his income was (and a few other things) as obviously they wouldn't take your income into account.

Would the deposit for the house need to be 95% of the value of the property? He really wants to buy our first home but I don't really want any involvement in the mortgage as I know how it impacts things.

kallis3 wrote:

Hi,

You won't be able to get a joint mortgage due to your IVA. Could you rent just in one name whilst the IVA is running? Perhaps phone a few rental agencies anonymously and ask what their stance is on IVA's?

Yes I will do this thank you, would they not want to know any information about me as the affordability each month will hit him and I would need to constitute towards bills. I am looking to make a full and final settlement towards my IVA this, next year but understand the IVA won't clear of my records until 5 more years.

If a 95% mortgage then your deposit would be 5% of the purchase price - but remember you would also have the moving costs etc

You can always say you are a lodger and pay him rent. What are your living arrangements at present?

Amy,

As Luluj said above you would need at least a 5% deposit - it would depend on income, etc though as to what they would lend.

kallis3 wrote:

You can always say you are a lodger and pay him rent. What are your living arrangements at present?

Hi Kallis

I currently live with my partners parents, they rent and their tenency is due to run out the end of next year sometime so I am trying to plan ahead, as I said above I am looking to make a full and final settlement payment once I have received a claim. I currently pay rent each month to my partners parents.

Ryan wrote:

Amy,

As Luluj said above you would need at least a 5% deposit - it would depend on income, etc though as to what they would lend.

Hi Ryan could you please contact me?

You may need to contact Ryan direct as I doubt he has your contact details.

What is going to happen when their tenancy runs out? Get your partner to try and rent now.

Amy.j wrote:

kallis3 wrote:

You can always say you are a lodger and pay him rent. What are your living arrangements at present?

Hi Kallis

I currently live with my partners parents, they rent and their tenency is due to run out the end of next year sometime so I am trying to plan ahead, as I said above I am looking to make a full and final settlement payment once I have received a claim. I currently pay rent each month to my partners parents.

I do not wish to be the harbinger of doom -- but what is this claim you hope to be receiving ?

Contact Ryan direct - his details are on his profile