can you still apply for a mortgage

[peev]

can you still apply for a mortgage when you are currently on a iva?

[MelanieGiles]

Yes you can, so long as you receive the express permission of the IVA Supervisor.

Do you have an existing mortgage, and if so you will need to make sure that the new payments will not disturb your ability to carry on with your IVA contributions.

If you are thinking of taking out a new mortgage to buy a property, this can be more tricky as you will need to find at least a 15% deposit, which can obviously not be from your own resources.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

[Adam Davies]

Hi
Just to add that a new mortgage must also not increase your living costs,i;e it must be the same amount as your rent payments at present.There are always exceptions such as having to move to a more expensive area with your job.
Regards

Andy Davie
IVA.co.uk Spokesperson and site manager
(aka Neverending)

Please check out my blog: http://andydavie.blogs.iva.co.uk

View my profile here:
http://www.iva.co.uk/andy_davie_profile.asp