can i get a morage while in an iva

[steven.g]

can i get a morage while in an iva

[size5]

It IS possible to get a mortgage whilst in an IVA, but without more specific details of your query, ie are you already a mortgagee, would you be a first time buyer etc, it is hard to advise you further. If you wish to expand a little then I may be of more use to you.

Regards.

[TheMatrix]

Personally, I don't think now is the best time to buy. The market has had its boom, and now due to go bust.

I'd, get the IVA out the way and then look at it. Plus if the market did go back up, no doubt there would be some mod in the IVA to say you have to pay that equity back anyway.

Its a lose lose situation either way, may as well rent. Just my view on the current house price situation at the moment.

[MelanieGiles]

You will probably need at least a 20% deposit if mortgaging these days whilst in an IVA, and will probably have to pay a high interest rate on top of that, so it might be better to wait until your credit rating has restored.

[Soulgrowth]

Talking to Andrew Graveson(Brightoak) at the debt debate yesterday he was saying that they have just secured an essentially sub-prime mortgage for a client ... the difference being that not so many months ago there would have been lots of choice but they were only able to come up with one product this time! ... so perhaps not the best time to be thinking of mortgages perhaps ... but things will change.

Debbie

[Andrew Graveson]

Debbie is right to say that the mortgage market is very difficult at the moment (for everyone) and this especially applies where there have been some credit difficulties in the recent past.

There are still mortgages available (dependent upon personal circumstances) but the lack of choice has obviously affected the attractiveness of some of the products that remain available.

There is some talk that the banks are now through the worst of the credit crisis as it concerns them. We'll need to monitor what this means to all of us in terms of the return of more mortgage choice in the coming weeks and months.

[TheMatrix]

I was watching Martin Lewis the other night talking about the compensation scheme for savers.

He put it to someone in authority that there was not enough money in the compensation scheme to pay out if a major bank went bust.

It got me thinking that banks would say anything to maintain stability. As they backtracked and said the government would bail them out with the shortfall, when they realised the implications of all that going out on air.

I could almost see the Northern Rock queues forming outside the big banks again on Saturday morning!