Since 2007 I have had a 50% mortgage/50% rental on a shared ownership flat and would now like to staircase up to 100%. I began an IVA in July 2012 for combined debts of £15k, but although I paid this off in full 3 years early in September 2015, I believe I am still under the terms of the IVA until July 2018 and that this will prevent me from being considered for any kind of mortgage until after this date. Please can you advise me if this is correct, or not. Should I wait it out for another couple of years before applying? Many thanks.
Your IVA will remain on your record for a full six years from the original start date so you will probably not be able to get a mortgage until then.
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
