if i get an iva will it efect my morgage

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joanne_n_s

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Post by joanne_n_s » Thu Jun 26, 2008 3:00 pm
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if i get an iva will it efect my morgage as my morgage is with my partner as well
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Julie

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Post by Julie » Thu Jun 26, 2008 3:05 pm
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Hi Joanne - welcome to the forum. If you already have a mortgage in place you will just have to tell your IP how much your repayments are. Bearing in mind if you're on a fixed rate your repayments will increase at some point and should be factored into your IVA.

If you are applying for a mortgage - the fact you are in an IVA will affect the rate of mortgage you're offered.
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MelanieGiles

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Post by MelanieGiles » Thu Jun 26, 2008 4:04 pm
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Does your partner also have any debts? If you are going to enter into an IVA, your IP will only expect you to be paying a proportion towards the mortgage based upon the amount of your earnings compared to your partners.
Regards, Melanie Giles, Insolvency Practitioner
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