Mortgage Prospects Post-IVA

purplefrog_3

Hi

My husband is just about to enter into the final year of his IVA - the debt is purely his, from before we met, and is not linked to me in anyway. Our house and mortgage are in my name only, from before our relationship, I have a very good credit rating, but am currently unemployed. I am seeking part time employment, but my husband will always remain the main wage earner.

Once his IVA has finished, we will want to combine our finances and move house to a jointly owned property, with a joint mortgage. I have just been advised that my current mortgage lender will not lend at all to a previously IVA'd person (One Account, RBS) :mad: and so we will need to find a new lender.

Overall we are in a pretty good position financially - we will only require about a 40% - 50% mortgage - and without needing to make the IVA payments we will have plenty enough spare income to meet the increased mortgage when we move. :A

However, we are very concerned that (a) we will struggle to find a lender prepared to take us on, and (b) we will be penalised with a higher interest rate. :cool:

If anyone has any comment, answer, confirmation or advice on this situation it would be greatly appreciated...
Where should we look for a lender?
Where can we get FREE INDEPENDANT accurate advice? (Our local CAB are pretty useless)
How much extra are we likely to be charged in interest?
Is there anyway we can keep the property and mortgage in my name only, but take my husbands income into account???
Will there be a limit on the amount we can borrow?

We are currently working on my house to refurb and redecorate, so that we can get moving just as soon as the IVA has finished...

But with the news about lending from my current bank we are getting very depressed and wonder if it is worth carrying on with the project...:(

Hope someone can help and cheer us up....???:rotfl:

Thank you....................... :T

PixelCode

Have just raised a question fairly similar to this myself. I was told that I could get a mortgage within an IVA which surprised me, mine is finished in June 2011, and I am prepared to wait until then, but options are what I am after.