Is there any help/advice about getting a mortgage in an IVA ? Renting is crippling us.

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Stephen.13

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Post by Stephen.13 » Sat Jan 30, 2016 2:33 pm
Hi, we are 2 years into an IVA (wish we hadn't done it) we are currently renting privately and it is killing us. We have 4 children! We could easily afford a mortgage as both of us have managed to change careers and both now in the police.

Is there any mortgages out there for us? 100% at that! Probably not. We have done everything we can to make things better jobs etc but still struggling, both are full time and yet seems to be no help out there for us at all. We have been told off record one of us should leave our job as would get more on benefits?????

£1200 per month rent (going up to £1400 next year) is crippling us and a mortgage would be lower and would have more money to clear IVA quicker. Jobs are secure. Is there anywhere or anyone who help/advise because it's starting to cause a huge amount of stress.

Thanks

Stephen
 
 

kallis3

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Post by kallis3 » Sat Jan 30, 2016 2:36 pm
Hi and welcome,

Unfortunately you are unlikely to be able to get a mortgage whilst in an IVA.
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.
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lifenoteasy

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Post by lifenoteasy » Sat Jan 30, 2016 2:45 pm
Sorry - can only agree with kallis3.
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.
 
 

Lisa Thomas

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Post by Lisa Thomas » Mon Feb 01, 2016 10:56 am
Hi Strephen - I believe the short answer is no I'm afraid but always worth chatting to one of the two mortgage experts direct on this forum which is Shaun or Ryan.

Perhaps you can settle your IVA with a third party F&F so you can start saving for a deposit ready for when the IVA clears off your credit report after 6 years.
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
 
 

Shaun Vickery

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Post by Shaun Vickery » Tue Feb 02, 2016 6:46 pm
Hi Stephen. I'm afraid that it is extremely unlikely, despite the fact that I entirely follow your logic. Firstly your Insolvency Supervisor would have to agree to it but also there are no lenders who would consider it without a significant deposit. Sorry, I fear I am only confirming what you already thought but, if nothing else, at least you know.
Specialist Mortgage Advisers. Highly Commended at the British Mortgage Awards.

For individual, confidential mortgage advice see my details under the IVA Experts or go to http://clients.theselectpartnership.co.uk/
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