Will past IVA effect mortgage application ? I am really worried we will get rejected.

[Leanne.y]

Hello,, when you apply for a mortgage and you have had an Iva , will it effect the application , even after the length of time is complete ,
My husbands Iva is up end of October and we would like to apply for a mortgage just after it's up
I am really worried we will get rejected
Please help

[Foggy]

You will find it difficult, but not impossible to get a mortgage once you have a completion certificate, which can be up to 6 months after the final payment. It gets much easier once the credit files are cleared, which happens 6 years after the start date of the IVA. Have a look here for clean up tips:

http://pjgrecovery.com/clean-up-credit-rating.asp

You would do better going through a whole of market broker with expertise in adverse credit as lenders criteria vary and a few failed searches on the files will spell doom to your attempts.

There are two such brokers who regularly post here: Ryan and Shaun. Contact details can be found under the "Ask a Question" tab ( top left) and scrolling down to the Experts Details section.

[Steven1001]

Probably best to have a chat with Ryan or Shaun (details in the experts section). As they are whole of market experts. Don't just apply as you'll reduce your chances of a successful application.

[Ryan]

Hi,
The article Foggy has directed you to is very good, and I would follow this advice.
Whilst the IVA still shows on his credit report i.e. 6yrs from date registered it is rather more difficult to 0btain a mortgage.
When did your husbands IVA get registered?

[Shaun Vickery]

All good advice above. Your previous credit issues will be a factor certainly, but it need not necessarily prevent you from obtaining a mortgage. Even if you can't qualify now, the longer ago the IVA was, the easier it will get.