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Hi,

I need a bit of advice please. I have had my IVA since may 2006 and am looking for a mortgage next year. Because I have an IVA can I still get a mortgage? If so can anybody recommend any companies that approve IVA's.

Many Thanks

Kath

Hi Kath and welcome to the forum,

Having an IVA will not stop you getting a mortgage, you will need a deposit supplied by a third party.

I would suggest you phone and speak to one of the Mortgage brokers who post on this forum;

Myself - Mike Burridge - (mikebdomain) - 'Leybridge Limited'
Tony Parsons of 'All Mortgage Products'
and Andrew Graveson of Brightoak

FREE ADVICE IS THE BEST ADVICE

LEYBRIDGE LIMITED
Whole of Market Mortgage Broker & Mortgage packager
Specialising in adverse credit.

Directly Authorised Firm FSA No:313790

CeMAP 1,2 & 3 qualified
F.P.C 1,2 & 3 qualified
Financial Planning Certificate
Certificate in Regulated Customer Care
Certificate in Regulated General Insurance
Associate of the Charted Insurance Institute

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

We are looking into relatives buying a property for us and we pay the rent / mortgage - would this be allowed under an IVA?

Lulu

I'm not entirely sure but this could be classed as a windfall and then form part of the IVA if you were to be paying the mortgage. I would have thought then that there may have to be an equity release.
I'm sure one of the experts will better advise though.

They would act as landlords with an offical tenacy agreement and we would be the tennants - just as we are now with our landlord (even though he has not paid his mortgage!)

Lulu

Kath ... I managed to re-mortgage last September and I was in an IVA ... huge interest rate though because it is classed as a 'sub-prime' mortgage ... but the plan is to try to get back on to high street rates after a couple of years.

Lulu ... I can't see why this should be a problem so long as the proprety and mortgage aren't in your name personally (you could always transfer the property in a few years time).

There are a couple of good websites where you can download legal documents such as a tenancy agreement at a minimal cost.

Debbie

www.familyceremonies.co.uk

www.soulgrowth.co.uk

Hi not sure how to contact mikebdomain but this link does not seem to work: http://www.leybridge.com/testimonial.php

Pete we have a problem with some ISPs seeing our site most people can get to the link OK - Leybridge 0800 phone number is in my profile

FREE ADVICE IS THE BEST ADVICE

LEYBRIDGE LIMITED
Whole of Market Mortgage Broker & Mortgage packager
Specialising in adverse credit.

Directly Authorised Firm FSA No:313790

CeMAP 1,2 & 3 qualified
F.P.C 1,2 & 3 qualified
Financial Planning Certificate
Certificate in Regulated Customer Care
Certificate in Regulated General Insurance
Associate of the Charted Insurance Institute

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