we have been in our iva for 2 years we have a mortgage is it possible to move and get a mortgage wilst in an iva. we did get a quote but we needed 20% no way got that amount
melanie giles thanks what about when the iva is over is it hard to obtain a mortgage with resonable rates i feel our time is running out for us as where in our 40s and all we want is a house with a garden for our kids to play in and to be able to have there friends over, our place is so small
Where will you get the 20% deposit from? Perhaps a larger rented property is the answer. You do not have to be property owners to provide a lovely home.
Melanie, couldnt agree more, home is where your family is and a house is bricks and mortar. My boss cant understand why people in the UK are obsessed with owning their homes cus in Europe everyone rents. We should take a leaf out of their book, as when you are old the less you have the better off you are lol x
I completely agree with that point - and frequently have to remind clients of the home vs house arguments. I think it is something to do with "Englishmen and their Castles!"
I am sooo glad I rent my house, I used to be a home owner and apart from some horrible people calling my daughter a CHAV at school I dont feel any different. Mine is the only council house in the close, my kitchen fell down a couple of weeks ago, its all been put back together and I decorated it at their expense. The boiler packed up last year(just read skips thread) they came a few days later with a brand new combi number. Its totally stress free, I dont regret it at all.
I am a former home owner turned tennant - and I love it! My rental home is gorgeous: much bigger, lovely and light, big garden for my girls to play in, long drive for Mr Rainbow's van and my car plus anyone who visits.
We owned our home until our IVA last year when we decided to sell up and make a fresh start in rented. It's been a rocky road with two landlords being repossessed while we have been tennants...but third time lucky we are in a lovely two bed ground floor flat in a very secure part of town....we have had new fridge, freezer and washing machine all installed in the last six months by our landlord - our landlord owns lots of properties and is a well known business man - he knows about our IVA and is happy to rent to us as he believes we are more likely to pay up than others !
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
Before we moved last year I would have been quite happy to rent as we hated where we were living, but now that we have moved into the new house I will fight tooth and nail to stay there. If we rented we wouldn't get anything as nice as rental prices round here are through the roof - it would end up costing us more. At the moment we pay £640 a month interest only mortgage, but to rent an identical property would be nearer £800.
I know it's only bricks and mortar, but for us to move it would be a backward step - we would either be able to go to a rougher part of the same area, a different area altogether or pay more to rent. Crazy really!
I love my house as well Skippy. We've lived here for almost 20 years,it's in a small cul de sac, off a cul de sac, so no through traffic, we are not overlooked at the rear, it's a nature reserve and we get on well with our neighbours.
My mortgage is high, but we are managing that, the secured loan and the IVA at the moment. I would hate to have to move.
If I did have to move, it would be two doors away as our neighbour is in the process of renting his house out! We'd never sell ours though!
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
We went from having horrible neighbours to having lovely neighbours when we moved. Moving changed our quality of life - we went from living in a flat in a large block near the main road to having our own garden and being close to the river on a quiet road. I would hate to end up going back to a flat, as we wouldn't be able to afford to rent anything with a garden.
That sounds nice Skip, near the river. We have a couple of large pools near us on the reserve. It's perfect for walking the dogs.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
