I am 4 years into a iva. I recently moved in with my partner. He has a house but no mortgage now. He is going to buy another house but will take a small mortgage out. We don't have any joint financial things at all bank accounts, all totally separate. Will he still get his mortgage ok, or will my iva effect him?
As long as the IP has not put any restriction on the current house and has accepted that you have no interest in it there should be no issues. The new mortgage will have to be in his sole name, as will the title to the new property.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
If you have no financial dealings and the mortgage is in his sole name I can't see any problems.
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
If you are unsure have a chat to the forum mortgage experts Ryan or Shaun - they will answer any questions and may be able to source a competitive mortgage for your partner
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
Hi Lucy355
As long as you and your partner have never linked yourselves financially, there is no reason why he would have any issues applying for a mortgage.
There are no ways of a lender to link either of you unless you had already done this.
Best of luck with it, if you have any issues i would be more than happy to help you with this.
Ryan Radford
IVA Mortgage Expert
Zebra Money Centre
IVA Mortgage advice needed? Looking at Right to Buy and completed IVA still on credit files ?
Give him a message or phone him - it will be easier to talk to him.
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
I had a similar concern recently. I was financially linked to my wife up un till march this year and have been in an IVA for two years. She had to say I would be living there so I signed a form to say I will have no legal right to house etc but she had no issues at all.
The first broker we used said we had no chance with santander with my credit history......3 months later with a new broker my partner has a mortgage with santander with very low interest rates so good luck
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
