Hello, I have just completed my IVA, Yey! (6th Dec 14)
I am looking into buying my first house but realize the high street lenders will not touch me so am hoping you guys can advise where to look/turn to?
I have a fairly good income and am paying £1000 per month in rent so I know I can afford to own but getting on that ladder seems impossible now.
Many thanks in advance.
Russ
You will probably have to wait until six years from the date the IVA started to get on the housing ladder. There are experts on here such as Shaun Vickery or Ryan and they could advise better based on your individual circumstances.
Hi Russ,
How much deposit do you have?
If it is only 5 or 10% you will have to be discharged for 3 years where I have lenders prepared to lend to 95%.
If you have a 30% deposit then I can help you now providing you kept the IVA payments up to date for 24 months and you have an identifiable, provable reason for entering into the IVA (made redundant, became ill or had an accident, a business failed etc.)
Regards
Steve
Russ.80 - have a chat wuth Ryan or Shaun - both of whom are mortgage experts who proven success at helping forum members. Everyone's circumstances are very different and levels of deposit are different - I can personally vouch for Ryan having had two mortgages now via his company and I am aware of dozens of other forum members who gave been equally pleased with his help and products.
Last edited by luluj on Thu Feb 12, 2015 1:15 am, edited 1 time in total.
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
Hi Russ80,
I too am a mortgage expert.
I have been a Whole of Market Independent Mortgage Broker since 1986 and I specialise in poor credit mortgages because very few brokers are interested in offering this specialist advice as the process is very time consuming. Understanding adverse credit lenders criteria is far more complex, time consuming and trickier than dealing with a mortgage from a High Street lender. With only a handful of subprime lenders to choose from, getting it right first time is very important.
Please feel free to call / email if you need help.
Regards
Steve
