Hello,
This is a question for Ryan. We completed our IVA last year after 3 years. We have our completion certificate but must wait for another 3 years for all the bad stuff to be removed from our credit score. This is ok as we need to save for a deposit. We aim to save in the region of £50000 as a deposit but need to know what we must do in the meantime to better our chances. I am on the electoral role and run my bank account very well. The IVA would have finished in May 2017 and then a further year to not show on the credit rating but I wonder is tyhere anything we can do at the moment. We aim to have a mortgage by June 2018 with £50000 as a deposit. The term would be over 10-12 years. Hoping for some advice. Thanks
Just keep your accounts in order, make sure there are no defaults showing on the credit records after the date of IVA acceptance - if so you need to get those sorted.
I am sure Ryan or Shaun would be able to advise you.
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
You are already doing a lot of things right, particularly with the voters' roll and the conduct of your bank account. You should also ensure that none of the debts included in your IVA post-date the IVA date (if they do you can write to them to ask them to correct it). If you haven't already got a copy of your credit file you could try www.noddle.co.uk which is free for life. This is the one I use personally. It may be possible for you to obtain a mortgage before the IVA drops off your credit file but you would have to think in terms of a bigger deposit (probably a minimum of 25%) and accept that you may pay a higher rate in the short term. I hope that helps?
Specialist Mortgage Advisers. Highly Commended at the British Mortgage Awards.
