MORTGAGE ADVICE

hantsuk77

I’m hoping someone is able to advise me.

My husband has  £60000+ debt.  Because of his debt I have always paid all bills including the mortgage and I am the main earner (£40000 to his £22000).
He wants to go for an IVA.  His name is on the mortgage.  I want to remove his name and he has agreed as I am worried that when the mortgage comes up for rate renewal we will be left with poor options or unable to change rate if I am associated by name to his IVA.  I have the ability to pay as I always have.  We currently have £130000 outstanding on the mortgage.  I was told by a mortgage adviser that I can’t remove his name if he still lives in the house.  I feel at a loss of what to do.  Will his IVA effect my rating and renewal as our mortgage is in joint names and was my mortgage adviser correct? 

Thank you. 

mwarby

His IVA would affect your credit rating if you have any joint accounts. I'm not sure about the advice you got from the mortgage advisor, perhaps worth speaking to a broker or solicitor