I have been in my IVA for around 18months now. Me and my ex still have both our names on our shared ownership mortgage. My new partner is looking to move in and I want to know if we can apply for a new mortgage together whilst I am in the IVA?
Unfortunately you won't be able to get one. Don't do any joint finances with your new partner as their credit record will be affected.
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As Kallis says, a mortgage for the next 5 years or so will not be an option.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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You will likely have to wait until a) the IVA has completed successfully b) you have your CC c) 6 years has passed since the start of your IVA d) you have come off the insolvency register (Up to 3 months after you get your CC)
There are a few Lenders who may look to offer a Mortgage if you satisfied your IVA early and had access to a large deposit but sadly these Lenders wouldn't look to lend at present on Shared Ownership properties. As has already been said you will probably have to wait the full 6 years of the IVA before you could look to get a new Mortgage on Shared Ownership unfortunately.
IVA Mortgage Expert
Zebra Money Centre