a few questions

[carl.p]

Hi
I have a few questions:
1. I currently have a mortgage and I'm considering IVA-when my fixed rate mortgage ends in October where will I stand as far as changing my mortgage/mortgage lender?
2. At present the money for household bills is put into a joint account by standing order from my account. With an IVA will the money in this account be affected because it may be perceived as savings?
3. What financial impact would an IVA have on a partner/spouse who has no connection with the money I owe?

Thanks

[MelanieGiles]

Hi carl and welcome to the forum

1 You will need to investigate now the implications and cost of a remortgage once your mortgage comes out of its fixed rate period. Ask you current lender to give you a quote so you have some idea of the likely increase in cost.

2 Not if those monies are generally used in their entirity to pay your household bills, but do make sure that the account is not held with a bank to whom you already owe money. If so, a new account should be opened.

3 None really, so long as you are not married.

Hope this helps!