My partner is buying a house and was hoping to put my name on the mortgage. The full deposit will be coming from him and any money that I put towards monthly bills will most likely be lower than what I am paying in rent now. I have been on an IVA since 2019 and didnt know whether it was worth a try or if it would be less hassle for the house to just be in his name.
Hi,
You will not be able to put your name on the mortgage and it will also impact his credit rating if you have any joint finances.
You can always be put down as a lodger for the purposes of your IVA.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
As Kallis says, you will not be able to be part of the mortgage without becoming a part owner on the title --- which would then open the property to your creditors in the form of equity release later on. Also from the IVA point of view, you cannot take on any credit of that sort ... even if your partner is paying for it all, legally the debt would, in part, be yours as well.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
