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Posted: Sat Sep 22, 2007 3:35 pm
by Elena
Hi There,
I have recently completed an iva, and would like to get a mortgage as we want to buy a house. Will I have lots of problems getting it now?
Thanking you in advance,
Elena
Posted: Sat Sep 22, 2007 3:38 pm
by MelanieGiles
Hi Elena and welcome to the forum
There are still many lenders who will consider you for a mortgage, but choose a reputable broker to assist you with experience of searching the market, and one who is independent of any particular company or companies.
You will need to find a deposit of perhaps between 10% and 20%, which may be difficult if you have just concluded an IVA.
Regards, Melanie Giles, Insolvency Practitioner for over 20 years.
To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp
See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp
Posted: Sat Sep 22, 2007 4:14 pm
by mikebdomain
Hi Elena and welcome to the forum,
Your ability to obtain a mortgage will of course depend on your personal circumstances. Your completed IVA will not hinder you in anyway, apart from a slight loading on the rate.
To find the best mortgage product available to suit your circumstances, you will need to complete a fact find with a mortgage broker who will carry out a credit search and advise you accordingly.
FREE ADVICE IS THE BEST ADVICE
LEYBRIDGE LIMITED
Mortgage Broker
Specialising in adverse credit.
see feedback and testimonials at:
http://www.leybridge.com/testimonial.php
Check out my blog at:
http://mikebdomain.blogs.iva.co.uk/
Please read our Initial Disclosure Document(IDD):
http://www.leybridge.com/Leybridge-IDD.pdf
Posted: Sat Sep 22, 2007 5:42 pm
by Soulgrowth
Elena
Just to let you know that I have just re-mortgaged with an IVA on my record without too much difficulty whatsover ... but like Melanie says, it may be difficult to buy a property whilst you are in an IVA as you will need a deposit and your income is likely all accounted for.
I have noticed that Barratt housing do a £99 deposit scheme ... but I expect that there is some link with a mortgage company who may not be favourable to people in IVAs ... has anyone had experience of this I wonder?
Debbie
www.babynamings.co.uk
www.soulgrowth.co.uk