We have nearly finished our IVA. What kind of mortgage could we get ?

[Siobhan.01]

Hi,
Myself and my husband are drawing towards the end of our IVA having 9 payments left, and we are looking to get on the housing ladder asap. Should we wait until the IVA is completely cleared off our credit files or could we apply once we have finished making the payments in May 2015? Also interested in what kind of mortgage we could obtain and what sort of deposit we are looking at.
Many thanks

[sponge]

Yes you will have to wait until it has gone from all three CR. Whilst that IVA is on record no one will lend you a pencil. However once it has gone (circa 6 years from commencement) The IVA effect leaves you with generally quite a good credit score. You can then apply to a high st lender. However there's always been the question have ever entered into an agreement with your creditors. It's a yes no thing and down to each to decide, some say no and get a mortgage some say yes and don't. But you can save yourselves if worried and try a broker, there's a couple on here in the members section who have worked their magic for some posters.

[Foggy]

Your best bet would be to have a word with our mortgage brokers who post on forum: Ryan and / or Shaun.

You can find their details by clicking on the "Ask a Question" button (top left) and scrolling down the new page.

[luluj]

A clean credit record is essential ... It is worth waiting the extra few weeks/months to get this so that you are offered the best interest possible. Give Ryan / Shaun a call and they will confirm.