Looking to the future - mortgage

[nicola715]

We have 2 years left in our iva and we starting to look to the future. I was hoping to get some of your experiences when it comes to mortgages?

Does ur credit score instantly sky rocket when the iva drops off meaning you can access high street rates? Do you need a bigger deposit than normal? Any insight wouod be greatly appreciated

[Breezy]

With an IVA in the past some lenders treat you differently: Some will ignore it, providing everything has been cleared up. Some will want to wait a few years after it has cleared up and some will never lend. You might hit lucky with your first application, by stumbling on one of the former, but, I would advise using a broker with experience in adverse credit, who will know who to approach. You will probably still get High Street rates, or close to, or be able to repackage the deal in a few years. Your credit score will not skyrocket right away --- have a read here: https://www.iva.co.uk/what-does-an-iva- ... dit-record

We have two forum experts who deal with mortgages and it will cost nothing to have a chat with one or both to see how the ground lies --- both will help you do the ground work for the best results. They are Ryan and Shaun and their contact details can be found in their profile pages here:

Ryan: https://www.iva.co.uk/forum/memberlist. ... le&u=18488

Shaun : https://www.iva.co.uk/forum/memberlist. ... le&u=22837

[nicola715]

Thanks. I 100% plan to contact when the time comes. Ive seen testimonials from some here that have used them and honestly i think id be silly not too