Property excluded from IVA

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Post by Confusedgirl » Tue Jun 04, 2019 10:49 pm
Hi me and my ex partner jointly own a property and he is the one in debt getting an IVA. He has just told me that the property has been excluded from his IVA! :) There is no equity in our house as we bought it less than a year ago. I'm really hoping I can buy him out and looking for a job now! Will I be allowed to take his name off the mortgage now that the house has been excluded (as long as my bank believes I'm financially capable of course)?? I've been worried sick since finding out about his debt so me buying him out and cutting financial ties is my dream for me and my little girl. Really hoping this means good news x


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Post by Foggy » Wed Jun 05, 2019 6:54 am
He could well have come to an arrangement with his IP and creditors whereby the house is excluded and he has to, maybe, pay the extra year instead. I would ask for written confirmation from his IP.
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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Post by Morbolle » Sun Jun 16, 2019 3:01 pm
That's good news but still try to get it in written to be sure. Plus here is a nice article about mortgages in the UK, hope it can help you too.

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Post by Lisa Thomas » Mon Jun 17, 2019 10:40 am
Whether or not you can have his name taken off the mortgage will be down to the mortgage Company to agree and is likely to be based on your affordability to cover the mortgage payments on your own.
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: ... Z5k9ZcC2MA 01752 786800


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Post by Moses007 » Tue Sep 24, 2019 10:52 am
Your partner should ask for clear written confirmation to IP whether your house is excluded in IVA or not.
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