Hi lin
Is the mortgage to buy a new property? If so, do you have a 15% deposit to put down which comes from funding which is not your own?
Assuming the answer to the above is yes, or that you are just remortgaging a current property, then you will need to ask your Supervisor's permission to take out further borrowings. The new mortgage payments should be no more than you are currently paying for your rent/mortgage, unless you have additional income to support the increase and the transaction can therefore be justified to creditors.
Talk things through with your IP and take their specific advice.
Regards, Melanie Giles, Insolvency Practitioner for over 20 years.
For further details contact me at
http://www.melaniegiles.com and view my IVA blog at:
http://melaniegiles.blogs.iva.co.uk
