Once my IVA finishes, will I be able to upsize my property? My family and I need the space... I.e. Will the banks allow this knowing we already have a mortgage?
Once the iva is cleared from records I would encourage you to use a specialised mortgage broker who has experience of helping people with past credit histories. There are two such people on the forum on Ryan and Shaun who can be contacted by their profiles on this link.
from personal experience i can only give whats happened to me...
i finished my IVA in april last year and got my CC very quickly
I chased down to make sure all records were removed from all 3 reference agencies (Equifax, Experian and Noddle)and the insolvency register.
Once this was done i watched my credit reports like a hawk and used a small credit card every month and paid off in full to get my score up.
10 months later i've been accepted for a Mortgage (Through one of the people Lisa has mentioned) to move to a bigger house and am currently selling mine to move - something i NEVER dreamed would happen this quickly!
The key is watching, increasing and maintaining your credit reports. Too many people get hell bent on getting their score up and while that's important, its not as important as in making sure any old accounts have been removed.
Hope this helps
D
F&F Accepted on 12th March 2015!
Completion Cert arrived 26th March 2015!
