Does the fact that my husband has an IVA prevent us from getting a mortgage ?

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Donna.72

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Post by Donna.72 » Mon Jul 27, 2015 12:23 pm
My husband is on an IVA does this mean that we can't apply for any sort of mortgage until it's finished? We could afford payments as the IVA is for debts long before we met
 
 

lifenoteasy

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Post by lifenoteasy » Mon Jul 27, 2015 12:47 pm
It will impact pre and post iva and would be impossible at the moment.
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
 
 

kallis3

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Post by kallis3 » Mon Jul 27, 2015 1:47 pm
Hi and welcome to the forum.

You are unlikely to be able to get a mortgage whilst on an IVA. I'm afraid nobody will touch you at the moment.
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
 
 

Shining

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Post by Shining » Mon Jul 27, 2015 1:48 pm
Hi and welcome to the forum.

An IVA will impact on the credit rating of your husband and until this is completed successfully and the IVA drops off (6 years from date of acceptance) and his credit rating re-built for him there may be no point applying. However, if you're not part of the IVA and can do this in your own name that is another scenario.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
 
 

Shaun Vickery

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Post by Shaun Vickery » Mon Jul 27, 2015 2:26 pm
Good advice by Lesley. It's very unlikely if you apply jointly I'm afraid...even if his Insolvency Supervisor agreed...unless you have a sizeable deposit and are prepared to pay a higher rate (think in terms of 6-7%). It might be possible to apply in your sole name but this would then mean only your income could be taken into account. I presume you don't already own a property?
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