Looking for advice regarding applying for a mortgage with a partner who has an IVA

Archiethere

Hi I have been saving For a few years to buy my first home. In April I will have 10k saved up. My partner is not in a position to save any money due to debts and recently took out an IVA. I have read I am better taking the mortgage out in my name rather than a joint application due to the IVA, however I have a few of questions. Will the fact that my partner will be living at the oroowrty be taken into account when I apply? Will the fact that she will be contributing to mortgage payments be a factor? And could her IVA negatively impact my application even if it’s solely in my name?

Thank you for any advice and help.

Pixie5740

Do you have any joint accounts with her? If not then you are not financially linked and her IVA has no bearing on you.

Her living in the property and contributing towards the mortgage will be an issue for most, if not all, lenders. You won't be able to use her income to apply for a mortgage that she won't be party to.

ACG

Are you married?
Are you financially associated (joint bills, bank account etc?) - Have a look on your credit reportS.
Is ANY of the deposit from your partner?

Assuming the answer to all of those is no, you should be fine in the main.

You can not say your partner will be paying bills/mortgage etc if they are not on the Mortgage your income and expenditure will be assessed on its own.