Hi everyone...
Wondering if anyone would know the answer to this.
Me and my partner are looking to move in together soon, he is wanting to buy rather than rent. I know I won't be able to get on the mortgage (he is aware of my situation and is fine with it)
How does it work with my IVA... Obviously I will need to pay towards the mortgage as I'll be living there and towards bills.
Is this allowed? Can it be included in my I&e if I'm paying him directly for a portion of the mortgage?
Any help greatfully received
It should be regarded as an expense like any other -- just as you would pay your share of the rent, you can pay your share of a mortgage. However, you might be pushing your luck if you need to pay more than your currentlt agreed rent contribution.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
You can pay 'rent' to your partner whose house it is, which in turn helps to pay the mortgage ... it will need to be calculated within your iva and as foggy says may have you be within the allowable limits of your iva.
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
Foggy wrote:It should be regarded as an expense like any other -- just as you would pay your share of the rent, you can pay your share of a mortgage. However, you might be pushing your luck if you need to pay more than your currentlt agreed rent contribution.
Thanks guys
It wouldn't be more than what I pay now.
I just didn't know how it worked if I wasn't able to show stepchange anything official to show how much I was supposed to pay.
I'm certain my payments are going to go up but I guess that's part and parcel of being in an IVA.
