Hello all. I have recently made full and final payment and await the CC.
My health deteriorates day by day and I would like to retire from work (aged 63) sooner rather than later.
I need to sell my home and with pensions kicking in I calculate that I would need to borrow around 50k mortgage. Is this unrealistic for a retiree who has had an IVA and is it affordable?
Sorry about your health and hope it improves soon.
As to a mortgage, your credit record will be shot for the full six years but you could speak to Ryan or Shaun - details under the ask experts a question link on the left hand side of the page.
As to affordability, only you know the answer to that one.
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
Thanks both. On reflection why would I want a mortgage?
I need to downsize as much as possible and buy a property outright........debt free and mortgage free....sounds much better to me.
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
Again, at the risk of sounding like an echo, , agree with Kallis. I now owe no-one a penny and took early retirement to enjoy, among other things, being a single parent. I fully intend for it to stay that way
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Hi Christine.26
I hope you get things sorted, but if you need some advice or some figures to consider, please get in touch and I would be happy to help.
Ryan Radford
IVA Mortgage Expert
Zebra Money Centre
IVA Mortgage advice needed? Looking at Right to Buy and completed IVA still on credit files ?