www.iva.co.uk

So hey all! Hope we are all well so basically I’m in my Iva and I’m a year in. So 4 years left!! But I’m so young, I’m only 22. 23 this year my Iva will finish when I’m 27. But regardless I understand that my Iva will still be on my file for up to 6 years. So 5 years still now... but yeah I’m going to be putting in a final settlement soon so I’ll be done hopefully within the next year. As I was in debt from being young and stupid from the age of 18. I have a good job and earn good money now. I found the power of credit cards didn’t i, and what a life lesson it was. But anyways I’m going off topic here. So back to it. Yeah. Will I be able to get a mortgage?? After my Iva is done? And after the 6 years it’s been on my report. Just feel like I’m going to be punished for this the rest of my life. Is it possible? Please help me! I’m so stressed out about it.

Yes, it is not only possible, but has been done by many an ex-IVA'er. Most do go through a broker with experiencein adverse credit and some also 'accidentally' get lucky with High Street lenders direct (but this is more luck than judgement and can be damaging if it doesn't work) -- It is a question of experience, knowing the lenders current policies and attitudes as well a knowing which lenders ask what questions.

If you are hoping to get a mortgage whilst your IVA is still on your credit file it's true to say that your options will be fairly limited - but it's possible under the right circumstances. Once the IVA is off of your credit file it does get easier. During the IVA, to all intents and purposes, forget it! Hope that helps.

Your not alone ... but the difference is you have taken steps to address your debt issues. Once it's off your record a mortgage will easily be possible with a good deposit !

Yes, we can get mortage like a normal person. Until you pay off your mortgage the property partly belongs to the bank and may be repossessed if you are doing not continue your payments.