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I am currently have an IVA. When can i legally have a mortgage again. Im hearing different things. Is it 6 years after the completion of my iva period?

Hi ent and welcome to the forum. You don't have to wait 6 years to apply for a mortgage - you can actually apply for a mortgage whilst in an IVA. This would have to be done with the permission of your IP, and you would need a deposit of approximately 15-20% from a third party. Also, the mortgage payments would have to be no more than it would cost you to rent. Finally, you would have to apply through a broker, and you would get a slightly higher interest rate.

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Hi
Just to add that you would normally have to be in an IVA for at least six months and you will need a reference from your IP stating that payments are upto date.
Regards

Andy Davie
IVA.co.uk Spokesperson

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