My partner and I would like to apply for a mortgage, however she has an IVA. I am in a clean financial position and am keen to get on the property ladder. Will her IVA affect our chances?
2007-07-25 23:16:52 · 8 answers · asked by Andy L 1 in Business & Finance ➔ Personal Finance
Agree a bit with SteveB. Her income cannot be taken into account. While ago I worked for a couple of Usury's hence my handle. When IVA came up even they ran a mile and absolutely No Interest.
2007-07-26 00:26:45 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Yes you can, but double check with the Supervisor of her arrangement before committing to anything.
Ive found that creditors usually impose a modification to most proposals that 'the Debtor may not obtain further credit for the duration of the IVA' and if this is the case then i doubt she would be 'allowed' to under such terms.
Remember that if she does obtain a joint mortgage with yourself, and she is not supposed to as per the Terms of her arrangement then her IVA would fail and she would most likely be declared bankrupt. Its better to be safe then sorry for the sake of a quick phone call.
2007-07-26 07:47:35 · answer #2 · answered by Anonymous · 0⤊ 0⤋
I have recently arranged a mortgage for a couple of which one had an IVA
2007-07-26 06:28:51 · answer #3 · answered by Anonymous · 0⤊ 1⤋
It's hard to see how adding her to your Property deeds and Mortgage will help you ..
First her repayments will be taking most of her income (so the Mortgage conmpany is not going to increase the Mortgage offer based on her wages) and second you will be exposing half your house to her creditors ..
2007-07-26 07:13:57 · answer #4 · answered by Steve B 7 · 0⤊ 0⤋
Yes you just have to know where to look. I work for an independant mortgage broker, if you would like a free quote email me on quotes@mukconnections.co.uk
2007-07-26 17:59:38 · answer #5 · answered by mia170107 2 · 0⤊ 0⤋
yes you can, but double check with your IVA advisor
2007-07-26 06:39:57 · answer #6 · answered by Josh M 1 · 0⤊ 0⤋
Yes you can
2007-07-26 06:32:37 · answer #7 · answered by Anonymous · 0⤊ 0⤋
Yes you can but....... you may not get it.
2007-07-26 15:41:21 · answer #8 · answered by Soup Dragon 6 · 0⤊ 0⤋