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Will my IVA affect my partners mortgage application?
Posted: Tue Dec 17, 2019 8:44 am
by lucy355
I am 4 years into a iva. I recently moved in with my partner. He has a house but no mortgage now. He is going to buy another house but will take a small mortgage out. We don't have any joint financial things at all bank accounts, all totally separate. Will he still get his mortgage ok, or will my iva effect him?
Re: <t>Will my IVA affect my partners mortgage application?</t>
Posted: Tue Dec 17, 2019 8:47 am
by Foggy
As long as the IP has not put any restriction on the current house and has accepted that you have no interest in it there should be no issues. The new mortgage will have to be in his sole name, as will the title to the new property.
Re: <t>Will my IVA affect my partners mortgage application?</t>
Posted: Tue Dec 17, 2019 8:59 am
by lucy355
Thank you. Will it get flagged up on his credit search
Re: <t>Will my IVA affect my partners mortgage application?</t>
Posted: Tue Dec 17, 2019 9:10 am
by Foggy
Tue Dec 17, 2019 8:59 amlucy355 wrote:
Thank you. Will it get flagged up on his credit search
It shouldn't do, as long as you definitely do not have any joint finances.
Re: <t>Will my IVA affect my partners mortgage application?</t>
Posted: Tue Dec 17, 2019 9:13 am
by kallis3
If you have no financial dealings and the mortgage is in his sole name I can't see any problems.
Re: <t>Will my IVA affect my partners mortgage application?</t>
Posted: Tue Dec 17, 2019 9:20 am
by lucy355
Thanks guys so many grey areas.
Re: <t>Will my IVA affect my partners mortgage application?</t>
Posted: Wed Dec 18, 2019 2:10 am
by luluj
If you are unsure have a chat to the forum mortgage experts Ryan or Shaun - they will answer any questions and may be able to source a competitive mortgage for your partner
Re: <t>Will my IVA affect my partners mortgage application?</t>
Posted: Wed Dec 18, 2019 9:16 am
by Ryan
Hi Lucy355
As long as you and your partner have never linked yourselves financially, there is no reason why he would have any issues applying for a mortgage.
There are no ways of a lender to link either of you unless you had already done this.
Best of luck with it, if you have any issues i would be more than happy to help you with this.
Re: <t>Will my IVA affect my partners mortgage application?</t>
Posted: Wed Dec 18, 2019 11:14 am
by lucy355
Can u let me know if that makes a difference
Thanks so much
Re: <t>Will my IVA affect my partners mortgage application?</t>
Posted: Wed Dec 18, 2019 11:51 am
by kallis3
Give him a message or phone him - it will be easier to talk to him.
Re: <t>Will my IVA affect my partners mortgage application?</t>
Posted: Wed Dec 18, 2019 12:11 pm
by diego_sucre
Hi Lucy
I had a similar concern recently. I was financially linked to my wife up un till march this year and have been in an IVA for two years. She had to say I would be living there so I signed a form to say I will have no legal right to house etc but she had no issues at all.
The first broker we used said we had no chance with santander with my credit history......3 months later with a new broker my partner has a mortgage with santander with very low interest rates so good luck
Re: <t>Will my IVA affect my partners mortgage application?</t>
Posted: Wed Dec 18, 2019 1:24 pm
by kallis3
Lucy - have you spoken to Ryan?
Re: <t>Will my IVA affect my partners mortgage application?</t>
Posted: Wed Dec 18, 2019 3:32 pm
by lucy355
It's just a mortgage in his name
Re: <t>Will my IVA affect my partners mortgage application?</t>
Posted: Wed Dec 18, 2019 3:34 pm
by lucy355
Phil who
Re: <t>Will my IVA affect my partners mortgage application?</t>
Posted: Wed Dec 18, 2019 3:35 pm
by lucy355
Sorry who is Ryan