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Mortgage - can we with IVA ?
guyzie
Posts: 9 Forumite
Hello,
A couple of years ago, my wife and I got into some serious financial mire and the only way out at the time was for my wife to enter into an IVA, which in truth has been a massive help. We have steadied the proverbial ship and life is better.
We currently have a mortgage which I would like to change, but am concerned that as my wife is in an IVA, we'll get flatly declined wherever we look. Am I right, or are there options available ?
Thanks in advance for your comments / help.
G
A couple of years ago, my wife and I got into some serious financial mire and the only way out at the time was for my wife to enter into an IVA, which in truth has been a massive help. We have steadied the proverbial ship and life is better.
We currently have a mortgage which I would like to change, but am concerned that as my wife is in an IVA, we'll get flatly declined wherever we look. Am I right, or are there options available ?
Thanks in advance for your comments / help.
G
0
Comments
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No idea - mortgage amount? property value? Income?0
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Mortgage amount - £280k
Property value - £350k
Income (joint) - £75k
Thanks, G0 -
I guess you will need to speak to a mortgage broker, I suspect without a lot of equity the deals offered to people in formal insolvency procedures are not going to be great at this point in time.
It might be worth checking if the IVA Supervisor will allow you to remortgage. I think some IVA prevent you acquiring additional credit.0
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