www.iva.co.uk

Hi All,
I have just began my extra 12 months payments in place of not being able to re-mortgage, however.....
My partner and I have decided to get married, no fuss or expense, it would be a small wedding - just the 2 of us!! The eventual idea is to rent my house out and move into his house but with my Iva my mortgage company will not look at changing my mortgage into a buy to let/permission to rent at the mo, so
my very lovely patient chap has suggested I just move out of my house for now and move in with him, I will not have to contribute to anything other than buy our food which I more or less do now anyway , therefore my out goings will stay the same as I will still be paying for my house/bills, is this allowed? obviously I will be changing my surname but would I still have to inform my IVA company even though my I&E would not change and I would still be receiving correspondence at my address, hope you followed all that! many thanks

Personally I would be inclined not to say anything -- you will still be getting post at the old address. However, there are other things than the IVA to bear in mind. First check that your current mortgage and your insurance do not have an empty property clause -- often they will not allow the property to be unoccupied for periods in excess of 60 days. Then look at the council tax position for unoccupied properties ( ours charge 1.5 times the normal rate, so an empty house costs more than one being lived in! ).
Could you not live in yours and rent out his, at least for a while ?

Most mortgsge companies will allow you you to rent the property out for up to 1-2 years (with permission) without it changing your mortgage conditions or payments from a domestic mortgage - you usually have to apply to them and pay a fee.
Dont forget however you insurance for the propery will need to be changed

I'm inclined to go with Foggy on this and say nothing for the time being. You are hiding nothing and will still have the same expenditure.

Paul

I agree with foggy.... don't let your iva stop your circumstances changing. Go for it and best wishes xx