Can I get a mortgage like a normal person would who didn’t have a iva?

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MrBT96

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Post by MrBT96 » Sun Sep 15, 2019 3:42 pm
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So hey all! Hope we are all well :) so basically I’m in my Iva and I’m a year in. So 4 years left!! But I’m so young, I’m only 22. 23 this year my Iva will finish when I’m 27. But regardless I understand that my Iva will still be on my file for up to 6 years. So 5 years still now... but yeah I’m going to be putting in a final settlement soon so I’ll be done hopefully within the next year. As I was in debt from being young and stupid from the age of 18. I have a good job and earn good money now. I found the power of credit cards didn’t i, and what a life lesson it was. But anyways I’m going off topic here. So back to it. Yeah. Will I be able to get a mortgage?? After my Iva is done? And after the 6 years it’s been on my report. Just feel like I’m going to be punished for this the rest of my life. Is it possible? Please help me! I’m so stressed out about it. :cry:
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Foggy

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Post by Foggy » Sun Sep 15, 2019 4:24 pm
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Yes, it is not only possible, but has been done by many an ex-IVA'er. Most do go through a broker with experiencein adverse credit and some also 'accidentally' get lucky with High Street lenders direct (but this is more luck than judgement and can be damaging if it doesn't work) -- It is a question of experience, knowing the lenders current policies and attitudes as well a knowing which lenders ask what questions.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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Shaun Vickery

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Post by Shaun Vickery » Thu Sep 19, 2019 9:14 am
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If you are hoping to get a mortgage whilst your IVA is still on your credit file it's true to say that your options will be fairly limited - but it's possible under the right circumstances. Once the IVA is off of your credit file it does get easier. During the IVA, to all intents and purposes, forget it! Hope that helps.
Specialist Mortgage Advisers. Highly Commended at the British Mortgage Awards.

For individual, confidential mortgage advice see my details under the IVA Experts or go to http://clients.theselectpartnership.co.uk/
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luluj

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Post by luluj » Thu Sep 19, 2019 8:11 pm
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Your not alone ... but the difference is you have taken steps to address your debt issues. Once it's off your record a mortgage will easily be possible with a good deposit !
Sharing from experiences of dealing with debt

There is a solution for everyone .... Just need to stay positive !

Look at my blog "All I wanted was a baby"
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justindrew

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Joined: Thu Oct 10, 2019 8:42 am
Post by justindrew » Sat Oct 12, 2019 12:50 pm
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Yes, we can get mortage like a normal person. Until you pay off your mortgage the property partly belongs to the bank and may be repossessed if you are doing not continue your payments.
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