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Posted: Fri Jul 08, 2011 10:07 am
by tangram
I have finished an IVA and having difficulty obtaining a mortgage.
Posted: Fri Jul 08, 2011 10:10 am
by footiemad
Have you checked your credit files? Also I think you would need quite a large deposit to be considered for a mortgage because its difficult in the present financial climate even if you have never had debt problems. Have you tried going through a reputable Mortgage Broker?
Posted: Fri Jul 08, 2011 10:20 am
by kallis3
Hi Trangram.
Your IVA will be on your record for six years from the date of acceptance.
You will need a hefty deposit and will have to use a whole of market broker. One of our posters has managed to get one but she had a 50% deposit.
Posted: Fri Jul 08, 2011 1:07 pm
by luluj
More than happy to share mortgage broker details with you - we had a 50% deposit - that was the only way the mortgage company would help us. The mortgage broker we dealt with was experienced in helping people in post-iva situations but he found that there was little choice amongst lenders - we had to use one specific one with a high interest rate to do it for the first 12 months ! If you want his details I will arrange to email them to you
Posted: Fri Jul 08, 2011 2:10 pm
by plasticdaft
Lulu out of interest what is the interest rate? How much was it to set up the mortgage and how much is it to get out of after 12 months??
Just its often quoted on here that you secured a mortgage but I think yours is a bit of an exceptional case, theres not many with such a high deposit.
Paul