do I wait for IVA to be cleared before mortgaging

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jaime_g

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Post by jaime_g » Mon Mar 03, 2008 10:53 am
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If I accept an IVA would I have to wait until this is cleared for a mortgage?
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Adam Davies

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Post by Adam Davies » Mon Mar 03, 2008 11:43 am
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Hi
It is possible to obtain a mortgage once in an IVA.You will need a deposit of at least 10/15% from a third party,your IPs permission and the cost of repaying the mortgage must not impact on your ability to pay your IVA.You will also be in the sub prime mortgage market,a little more expensive than prime High st rates
Regards
Andam Davies
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iva experts

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Post by iva experts » Mon Mar 03, 2008 12:02 pm
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Hey Jaime,

Obtaining a mortgage whilst in an IVA is not impossible, however it can prove to be difficult as there are alot of factors involved. As Andy has mentioned you will need a deposit from a third party but more importantly you will need your I.P's permission to go ahead with a mortgage.

An IVA will show on your credit rating so you will find it hard gaining a mortgage from a High St lender, however you can speak to special brokers who deal in the sub-prime market.
Best Regards,
Michelle Pontes
IVA Experts
http://www.iva-experts.co.uk/
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