26
Dec
2015
A question about : Prospective Tenant with IVA. BTL lender issue?
A man with an IVA wishes to rent our house. He has a job paying decent money on a permanent contract and good references from previous landlord and employer. He has been open about the reasons for the IVA which involve a divorce. He has no CCJs. He has a guarantor which we have already said we would require. We are concerned because we have heard that some BuyToLet lenders would not accept tenants in an IVA or BR position and we could be breaking the conditions of the mortgage by doing this. Anyone heard of this type of thing?
Best answers:
- I find it hard to imagine you could be breaking the terms of your mortgage by accepting a tenant who has a guarantor. But the only way to be 100% sure is to look at the terms of your mortgage!
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