Does it make much difference to mortgage application if I have the certificate or not ?

[peteski2012]

Hi

Thanks to all of you who have assisted me in the past with questions around my IVA. I am in the final stages - IP just dragging the PPI / completion certificate bit out which I am trying to resolve at the moment. My question is around obtaining a mortgage (new buyer never had a mortgage before). Now I have an IVA does it make much difference to a mortgage app if I have the certificate or not? now I have been tarred with brush so to speak will my interest rate be pretty much the same regardless. Obviously I'm no longer paying the IVA off so outgoings are not effected by it.

Thanks

[ginger323232]

You are not likely to be considered at all with an active IVA - When you eventually get a certificate you may need to use a whole market broker who will point you in the right direction of suitable lenders

[back on track]

I doubt you would be able to get any mainstream mortgage yet as until you have the cc you are still bound by the iva.also don't forget your iva will show up on your credit history for 6 years after your iva start date.your best bet would be to wait till your iva falls off your credit file and then seek a whole of the market mortgage broker who can possibly sort one out for you.there are a few who post on the forum.

[Shining]

Why not have a chat with Ryan or Shaun who post on the forum they can give some expert advice.

[IVANotOverYet]

font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by peteski2012

Hi

Somehow fortunately my IVA has never shown on my credit report so that's a help but wil it make much difference without a cert of completion?

Have you checked all three CRAs? If not, do that first. You also need to check the Individual Insolvency Register - if you appear on there your chances of a mortgage are minimal without a gigantic deposit or at a very high rate; and if you do, your name won't be coming off until you get the CC.