www.iva.co.uk

Hello all

Has anyone changed mortgage whilst in an IVA?. Or is this even possible??

Basically I have a mortgage with Northern Rock [xx(] and I am looking at the possibility of changing to get a better deal as they do not offer any deals and im paying about 5%apr etc...

Are there any mortgage companies that offer mortgage transfers to people in an IVA??.

I really should of been looking into this ages ago. I only have 9 months left on my IVA after 6 Looooooooooooooong years!.

thanks

You will likely have to wait until the IVA is over for your credit file to clear up. It would then be advisable to speak to a specialist broker who can find you the best deal.

5% whilst in an IVA is a good mortgage rate and as Michael suggests it would have been very difficult to change anyway.

Once you have finished then speak to Ryan who is the resident mortgage broker on here. His details can be found via the 'Ask a Question' link on the left hand side of the page - give him a ring for some free advice.

When your current deal ends say with the Natwest, can you still take advantage of any new deals with your current supplier, or will the Natwest refuse you any discounted rates and force you to take the standard variable rate.

You can ask them but they may reject you ...... Depends if they are iva friendly or not.

Some banks do exploit their clients when they know they cannot move elsewhere but not sure if NatWest fall into this bracket. However as lulu says there is no harm in asking and perhaps the person you speak to does not even know about the IVA.