I'm getting married in August 2010

Get expert opinion. This is the place for new questions to be posted.
4 posts Page 1 of 1

 

User avatar
andy.be
Posts: 2
by andy.be » Thu Jan 14, 2010 11:51 am
I'm getting married in August 2010 and my partner has an IVA. I am paying a mortgage on a house I own but that we both live in. She contributes to the household bills and mortgage, but I pay the the majority, in accordance with my higher earnings (and the mortgage being in my name). Our intention is to keep our finances separate when we get married until her IVA is completed (August 2011). She has recently raised a few concerns about the possible impacts of her IVA on my and our finances once we are married:
Will our being married adversely affect my credit rating/remortgaging options even if our finances are separate?
Will her IP have any claim on my money or the equity of my house when we are married?
When her IVA is completed, we would like to move to a joint mortgage - if she took steps to rebuild her credit rating how soon would this be advisable so as not to have an adverse impact on remortgaging?

I love her to death and we're getting married whatever, we just want to know where we stand financially! Thanks very much for your help!

 

User avatar
Michael Peoples
Industry Expert
Posts: 15188
Contact
by Michael Peoples » Thu Jan 14, 2010 12:30 pm
Hi Andy and welcome to the Forum and congratulations on your forthcoming wedding.

You should ensure that the property remains in your sole name until the IVA is over and any money your partner/wife pays is effectively rent and bills. This should leave the property completely out of the equation and she will acquire no beneficial interest in it.

Your wife,s credit file will be cleared up six years after she enteres the IVA so putting the property into joint names would be an unnecessary expense until then. So by 2012 everything should be fine and best of luck for your future together.

 

User avatar
kallis3
Forum Expert
Posts: 71944
Contact
by kallis3 » Thu Jan 14, 2010 2:32 pm
Hi Andy and welcome from me as well.

Congratulations on the forthcoming wedding. I wish you and your intended the best of luck.

I also totally agree with Michael's post.

 

User avatar
andy.be
Posts: 2
by andy.be » Thu Jan 14, 2010 2:37 pm
Thanks very much for the advice and for the congratulations. That was what we'd hoped would be the case, but I thought it best to ask the experts! Much appreciated [:D]
4 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”

Who is online

Users browsing this forum: No registered users and 12 guests