www.iva.co.uk

HI all,

Have successfully completed my IVA in May this year I have spent the last 2 months sorting out my credit file. Egg are still being very slow by demanding money after the `iva was completed.....anyway.

I am now looking at the housing market..

Can anyone tell me how long after an IVA is completed can I apply for a Mortgage?

Also If applying for a mortgage after the 6 year mark after completing my IVA do I have to tell them that I was in an IVA as I should have dropped of my credit file by then?

Many questions but this seems the only forum that gives any answers

Hi Polar,

Your iva will drop off after 6 years.

You can apply for a mortgage, but may find anyway that you need to put down a hefty deposit.

If you did the full five years, then you will have to wait until May next year for it to fall off your record.

Just check to make sure that you have no defaults on your record after the iva was agreed.

If the mortgage company asks, then you need to tell them about your IVA. Otherwise, I wouldn't bother once it has dropped off your record.

polar

You can apply for mortgage funding immediately after and iva has ended, in fact you can apply whilst in an iva but you need the permission of your IP whilst in the iva.

After 6 years when the iva is not on your credit file you still have a duty of disclosure of information to any potential mortgage lender so would have to tell them, in fact the question is on a mortgage application form.

You would need a large deposit if you are looking to purchase or remortgage at the moment whether you have completed the iva or not.Tony

As i am a keyworker there are various schemes to help with purchases.

This will mean a smaller deposit

Forgot to say...anyone know a good mortgage firm or broker who can deal with people with history of IVA

Welshboy might be able to help you.

After the 6 years your file will be clear, why do we still have to declare we were in a iva previously. It will no doubt limit the options available and increase the amount of interest charged as they see you as a higher risk.

No once the IVA is finished, we should not have to declare it in my opinion.

I agree that we shouldn't have to mention it, but it's best to be honest.

I agree it shouldn't have to be mentioned, but it's the same with BR, if you are asked you have to declare it.

Hi All, i am new to chatting on here but after almost 5 years i have one last payment to make on my IVA. This forum has helped me big time on numerous subjects and questions i have had, just wanted to say thanks to you all for being there for the help and advice!!!

Hi and welcome to the forum.

So glad that your IVA has run smoothly and that the forum has helped you out.

it really has helped! It has definately not been easy, and now the job starts to rebuild my credit! Exciting times though!!!

polar - I recently gained a mortgage post IVA through a broker. If you want his details let us know on here and we will email them to you with his name and contact - he has been excellent throughout and has full knowledge of IVA's so is sympathetic towards your needs as well !

It will take a while coachjambo - you'll need to check your credit record with Call Credit, Equifax and Experian to see what is registered on there. If you have defaults registered after the date of IVA acceptance then you need to contact those creditors (once you have your completion letter) and tell them to remove those defaults.#

How is the house going on Luluj -unpacked and settled ?