I understand that I will not be able to move house for another 5 years ?

[Oopssidaisies]

I have an IVA and have been on one for just over a year now, I have a mortgage also. I understand that I will not be able to move house for another 5 years due to my IVA (nightmare as I'm in a little one bed maisonette thing which is TINY!). I am now with someone else and he has moved in. If things go well, is there any chance at all we could ever remortgage to a bigger place even with my IVA??

[Shining]

I doubt you'd be able to gain a mortgage whilst in an IVA. Post IVA people have been successful.

However, don't take my word for it, I'm just someone in an IVA and others may have experience of selling and moving within an IVA.

[Oopssidaisies]

thanks for reply Lesley, any thoughts are appreciated to be honest, and well done you - just 6 months to go eh! well done! you're an inspiration to pepes like me. Don't get me wrong, I'm so very thankful I managed to stay where I am and keep the roof (even if v v tiny) over my head but with two of us in it now tis sooooo small.....and kinda thinking marriage (kids one day?) etc....

[Shining]

6 months yes, so near and yet so far...

I would say don't let the IVA put your life on hold, could you sell and rent with a view to buying again post IVA? Do you have equity that is payable to the IVA x

[Oopssidaisies]

Doubt I have any equity in the house and I'd need money to pay solicitors fees and things if I sold the house - which I haven't got - and I'd need deposit for rental place surely? - which I haven't got - and would I be able to rent - as they'd do credit checks and stuff wouldnt they?

[Shining]

Some people rent whilst in an IVA successfully, by way of private landlord or a guarantor.

But if you say no equity you don't want to incur any further debt by way of charges through selling.

I'm the same, desperate to move and can't for now. I'll hopefully look at it again next year. I'm so unhappy living where I do.

[Oopssidaisies]

oh lesley sorry to hear. is it me or it the weather bringing us all down a bit? its the 2nd of august and its grey and raining - perhaps if it was sunny things would seem better for us all? lol.

[Shining]

I've lived in my house for 17 years and until the past two years have loved it, still love the house not the location. We do have a nice sunny day here.

Hope you can move on as soon as with your life and the IVA doesn't restrict you too much x

[Michael Peoples]

You could get the rental agreement in your partner's name and rent out your own property until the market recovers but also until your credit file is cleared up. It may then be a lot easier to get a new mortgage if you already have one showing perfectly well on your credit file.

[nickjohn]

You will have to be careful with your income and expenditure with you partner moving in.. The IP will say you need to pay more in as they will just take half the bills and allocate them to your partner..Assuming you tell them that is