www.iva.co.uk

Hi all

Bit complex this one but im in an IVA with GT and its 3 yrs this Oct. My partner whom im engaged to is going through a divorce and it looks like the settlement she will receive wont be enough to purchase a property with. I was just thinking does anyone know IF she was to pay off my IVA now would i stand any chance of obtaining a small mortgage of say around 50k? Her settlement will be around 160k but that buys a tiny studio flat where we live in Brighton.

This is just me thinking of all options at the moment...

Appreciate your opinions

Cheers

Geoff

Hi Geoff

From what I can remember you're iva will stay on your credit file for 6 years weather or not it's finished early.
Couple that with the stricter lending criteria the mortgage lenders are using I very much doubt you would be successful in getting one.

Sorry mate

Hi Geoff.

You could have a word with our resident forum mortgage broker who has helped several of our posters to get a mortgage even though the iva has still been showing on their record

His name is Ryan and his details can be found under the ask a question link on the left hand side of the page.

I doubt very much that you have any chance until all records of the IVA are removed from your credit files, which will be a minimum 6 years from the date the IVA was taken out.

Unfortunately not even Ryan can sort out a mortgage while the IVA is still showing.

With a large deposit Ryan may be able to sort something as Niobe states he has managed it before.

I'm pretty sure he can't do it with the IVA still showing on the credit files - I've had many discussions with Ryan (he arranged a mortgage for me recently) and I'm sure that's what he told me, but I suppose it won't do any harm for Geoff to send Ryan an email anyway.

Thanks for all your comments. Didnt think it very plausible.

Regards

As far as I am aware, Luluj still had the IVA showing on her record when Ryan managed to secure her a mortgage as she did a full and final.

Send him an email Geoff - he can only say no.