I have been discharged early from BR but still have an IPA, with a baby due early next year and living in a 2 bedroom house with my Partner and Daughter(daughter stays 3-4 nights a week with me and rest with my ex wife), we need a bigger house.
Currently the house we live in is just in my partners name, Would i have a problem with getting a joint mortgage?
Would I be able to get my IPA adjusted to take into account the increased outgoings and payments for a bigger house?
and slightly off topic do I still need to inform OR of Yearly pay rises?
Kind Regards
Shylock
In The Beginning There Was Nothing, Then God Said "Let There Be Light", And There Was Still Nothing But Now Everyone Could See It.
Right whilst its not impossible to get a mortgage whilst discharged it may cost a bit more and the choice a little less, but saying that its quite tuff for everyone after a mortgage right now.
The IPA can be adjusted, you must contact the OR sooner rather than later as you need to buy things for the baby etc and so it may be worth letting them know now about the change of circumstances and so the IPA can be adjusted accordingly, as you know buying things for a new baby is not cheap and so the sooner you contact them the better is it for you.
As for yearly pay rises if your in an IPA then yes you should inform them of this its better i think sometimes to be upfront as any extra DI can go towards the IPA for the creditors. The OR may not be too worried about the amount as it may be only a small amount but you do need to contact them about your pending new arrival.
Hope this helps.
Jo x
For more info on how i have come through bankruptcy and for links to help, you can read my blog here called: Jo's Links and added info on Bankruptcy! http://debtfreejo.blogs.bankruptcyhelp.org.uk/
Question about mortgage post BR
Posted - 14 November 2008 : 20:57:53
