www.iva.co.uk

Hi there first time poster in need of advice please? I have just completed my 4th year phew!!! I have now got to go through the equity release part my question is.... I am in a joint mortgage with my husband and the iva is only in my name, he does not want to remortgage his half can I remortgauge my half?? Not sure how this will work can he be forced to remortgage even though he is not part of the iva

Thanks for any advice

Hi. You cannot remortgage without your partners consent and it cannot be based on half the property.

First you need to check your paperwork to see exactly what your equity clause requires. If there is no equity, there will be no need to worry about remortgaging.

If there is equity it is very unlikely that you would be able to remortgage in any case and an exy=tension might be applied instead.

Your husband must have been advised at the beginning of the IVA and signed consent then. He also must have agreed to the RX1 restriction and if not he is entitled to dig his heels in [even though there are no mortgage products available anyway].