You may find it difficult to get a mortgage even when your IVA has completed. You will need a hefty deposit.
You could try Tony Parsons, who posts on here as Welshboy. He does mortgages and may be able to advise you.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
The way the economy is at the moment, I would say at least 20% deposit would be required.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
I would advise going to a good broker like Tony Parsons. I know each case is different but having talked to most of the high street banks they will want the IVA completed a year minimum if they touch you at all. Things may of course change over the next few months. The only other advise I can give you is to try HSBC. They do not deal with brokers but once again they will want to have seen your IVA completed at least 1 year. They gave me a mortgage but as I said each case is treated on its own Situation and your credit score. Adverse rates at the moment seem to very between 8%-13%. Hope all goes well for you.
Last edited by whichwaynow on Sat Mar 07, 2009 7:11 pm, edited 1 time in total.
Since my last post I've been tidying up my credit file through Experian. Initially I got all excited because I could find no record of my IVA or default accounts. But, my elation was shotlived when I realised I'd not included my old address from a few years ago. Sent Experian these details and bingo... there they are now. Defaults and a random CCJ which I have no recollection of. It's dated 2003 so not too long before that one drops off the list. Some of the accounts that defaulted when I went into a Debt Management Programme are there and they too are now approaching the 6 years. My IVA started in Oct 2006. What has annoyed me is that one creditor defaulted my account in May 2007. This was two years since I submitted it as part of a Debt Management programme and later in the IVA in 2006. So why has this creditor left it so long. My IVA will drop off before this default disappears?!? Can they do this?
oops got my dates a bit wrong in last post. Now I think about it, I must have started my Debt Management Programme in 2003 then changing it over to an IVA in 2006. So in effect I'm in my sixth year of debt repair. That means that these accounts are one by one droping off soon.
I should also say that, in respect of the account that defaulted in May 2007, this was part of the IVA completed this year.
They're not allowed to default your account once you are in an IVA Scott, so I would get in touch with them and ask them to remove it.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
I think you just write to the creditor and ask them to remove the default, but not totally sure.
David Mond is about this afternoon, he may be able to assist further.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
I don't know where you can read up about it I'm afraid.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
