my girlfriend has a iva, questions about moving in together, help please

tidyboy22

i posted this in the bankcrupsy board by accident so re posted on here


Hi all

I've been reading through most of the posts on here to try find out some information but need a little more.

My girlfriend has a iva, she got this before we started dating and is a year into this, we are thinking about living together, i own my own home and my credit rating is very very good, if i move her in to my home and register on the electrol register as living with me how will her iva effect me.

i.e. if i want to have a credit check in the future for example for a new car on finance will i decline or struggle due to the fact that i have someone living with me that has a iva, will it show up on my credit report or my homes credit report etc etc.

plus in the future if we decide to buy a bigger home for us and go for a morgage together will it decline, what if i just go for the morgage in my name what would the outcome be, i have a morgage currently in my name and all is very good with the running of the morgage. Am i going to be putting myself at risk with my credit rating by having her live with me, is this going to effect me long term etc etc.

some help will be great as im struggling to get these correct answers even form the iva help line, any clarety on this will be appreciated.

many thanks

nathan.....new to this forum:j

fiveyearplan

Hi tidyboy and welcome! Providing you don't open any joint accounts with the girlfriend then your credit files are not linked. So I wouldn't jump into a joint mortgage until her IVA is finished and off of her credit file. When does her IVA finish?

I presume all the bills are in your name already so won't be in joint names.

tidyboy22

all bills are in my name as i live on my own currently and nothing will change, she has another 4 years to go, she dont know a great deal about how her iva works and i have no idea, my concern is if i move her in and put her on the electrol register and then down the line i go for a new car on finace, sky, new internet provider etc, anything that requires a credit check is my girlfriends iva going to show on my credit check and decline or have problems.

i think i understand that we wont be able to have a joint morgage if we buy together but what if we buy a new home and i go for the morgage in my own name?????

thanks

nathan

thecableguy12

no her information will not show on your credit check just make sure you have no joint credit

fiveyearplan

tidyboy22 wrote: »

i think i understand that we wont be able to have a joint morgage if we buy together but what if we buy a new home and i go for the morgage in my own name?????

thanks

nathan

You could get a mortgage with her but that is when you become financially linked and where she'll show up on your credit file. If you go for a mortgage in your own name then they will only use your income to assess eligibility and won't include her in any credit check and she won't show up on yours.

Like I said earlier - just don't have anything joint with her and don't put her name on your council tax bill.

tidyboy22

but if she lived in my house dont i have to put her on my council tax thing or wont i get done for not putting her on the electrol register?

julietormesby

tidyboy22 wrote: »

all bills are in my name as i live on my own currently and nothing will change, she has another 4 years to go, she dont know a great deal about how her iva works and i have no idea, my concern is if i move her in and put her on the electrol register and then down the line i go for a new car on finace, sky, new internet provider etc, anything that requires a credit check is my girlfriends iva going to show on my credit check and decline or have problems.

i think i understand that we wont be able to have a joint morgage if we buy together but what if we buy a new home and i go for the morgage in my own name?????

thanks

nathan

Hi

In theory as long as you remain fincially apart i.e. have no joint finances whatsoever then you should be okay. Notice I use the word THEORY. My house is solely in my name and I pay all the utility bills etc i.e. I am not financially tied to anyone but last year someone that lives in my house went bankrupt and I now find that I have gone from an excellent credit rating to a poor despite paying all my bills etc on time!!!!! It makes me wonder!!!!

thecableguy12

julietormesby wrote: »

Hi

In theory as long as you remain fincially apart i.e. have no joint finances whatsoever then you should be okay. Notice I use the word THEORY. My house is solely in my name and I pay all the utility bills etc i.e. I am not financially tied to anyone but last year someone that lives in my house went bankrupt and I now find that I have gone from an excellent credit rating to a poor despite paying all my bills etc on time!!!!! It makes me wonder!!!!

Could not have anything to do with the bankruptcy as its nothing to do with you and the is no such thing as a property blacklist etc, if your credit rating has decreased i would say get a copy of you r credit reports equifax, ex, call credit, it may and should be down to something completely different

thecableguy12

tidyboy22 wrote: »

but if she lived in my house dont i have to put her on my council tax thing or wont i get done for not putting her on the electrol register?

you wont have to put her on the councel tax bill, and she can go on the electoral role with no problems i'm doing this at the moment with my wife all the bills are in my name