I have joint mortgage with my ex and do not want him to know about my IVA

Get expert opinion. This is the place for new questions to be posted.
4 posts Page 1 of 1
User avatar
jackie226
Posts: 3
by jackie226 » Sun Feb 04, 2018 9:34 am
I am thinking of entering into an Iva. I have a joint mortgage with my ex and do not want him knowing about the Iva. Is this possible and after 5 years will I have to remortgage to release the equity
User avatar
Foggy
Forum Expert
Posts: 25905
Contact
by Foggy » Sun Feb 04, 2018 9:42 am
It will be impossible to keep the IVA away from him. As you jointly own the property he will have to sign a restriction on the title and, as you mention, at month 54 you will have to go through a valuation exercise to see about releasing equity.
Even without the proprty complications, an IVA is a gigantic secret to have to try to keep and, I am afraid, the strain might be too much.
User avatar
kallis3
Forum Expert
Posts: 73008
Contact
by kallis3 » Sun Feb 04, 2018 9:58 am
I agree - also your mortgage company will be informed and will probably write to your ex.
User avatar
Ryan
Industry Expert
Posts: 825
Contact
by Ryan » Mon Feb 05, 2018 9:19 am
I have to agree with Foggy and Kallis.
4 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”

Who is online

Users browsing this forum: kallis3 and 48 guests