Page 1 of 1
Posted: Fri Sep 19, 2008 4:56 pm
by orchid5
Hi all, hope all of you IVA buddies are well and coping ok at the mo, my question is one of if you live on your own, own your own home for which there is a 4 year equity clause and you decide to move in with your partner, want to rent out your house what happens then, obviously i would presume that the payments would increase to the IVA because of extra revenue being generated by renting out the house if you are lucky enough to cover the cost of the existing mortgage, but what of the fact that you would have to pay your way with your partner, any thoughts please?
14 down, 46 to go wahooo.
Posted: Fri Sep 19, 2008 4:59 pm
by kallis3
Interesting one Orchid! I haven't a clue about that. Melanie can probably help you though, I'm sure she will be along shortly.
Posted: Fri Sep 19, 2008 5:02 pm
by orchid5
Many thanks kallis it is a question that i thought of recently and thought i'd put it forward.
xxx
Posted: Fri Sep 19, 2008 6:12 pm
by Sarah Nancollas
Hi
Suggest you have a chat with your Supervisor. He/she will probably ask to see a revised income and expenditure summary that takes into account not only the rent you will be receiving but also your revised living costs (presumably they will be less than they are at present as you will be sharing them?) as a result of moving in with your partner - so depending on the sums, you may end up paying more into your IVA.
Posted: Sun Sep 21, 2008 7:57 am
by orchid5
Hi Sarah, many thanks but the question was a hyperthetical one but if i should meet mr right then i will certainly take this on board.
take care and be safe.