www.iva.co.uk

Just out of interest, but if somebody is in an IVA, can they apply for a mortgage on a flat or a house whilst in the IVA? A friend of mine asked me how that would work. I said that it may be best just to "stay put" until the IVA is over and done with, but I did not really know what to say, to be honest.

Also, is it true that IVA's are usually in one person's name? I have since been told that IVA's cannot be held in joint names? If the latter is the case, then our IVA is false / void and I have been paying into for nothing since June 2011. Advice please!

Yes of course you can apply for a mortgage in an iva, but you won't get one as no lender will accept someone in an iva for a mortgage.

Ivas aren't joint but they can be interlocking, is this what you mean?

You can apply for a mortgage whilst in an IVA --- you will not find a lender who would accept the application though.

All IVA's are individual and in single names ... what you probably have are interlocking IVA's (commonly, incorrectly referred to as joint IVAs). Where the two IVA's are interdependent and based on amalgamated incomes and expenditures and services by one payment each month.

I'll keep this bumped up because I would like to know as well. Especially about the joint iva because all our correspondence with our iva company has always been in both our names.

Wiggle, all our correspondence is in both names -- but we have two, seperate ( and interlocking) IVA's -- two proposals, two meetings and two Chairman's reports.