www.iva.co.uk

Hi, I am 19 months since my last IVA payment and I have today been informed that my IVA has finally been closed and I should receive my closure certificate in the next 10 days. I would like to buy my own place next year but am wondering what my chances are of getting a mortgage. Am I likely to be able to get one with just a 5% deposit? Should I mention that I had an IVA in the past as it will now be off my credit file as nearly 8 years have passed since it started. I currently have a credit rating of 1/5 but can now begin to improve this score. Thanks for your help and advice.

Hi and welcome

The IVA should be off your credit record but until you receive your completion certificate it will still be on the insolvency register.

A mortgage may be possible, my advice is to use a whole if market mortgage broker

Good luck

Regards

You will have to disclose if you had an IVA in the past on any mortgage application anyway regardless whether it shows up on a search.

Andy's advice to go to a whole of market broker is correct as they will be able to advise who may consider lending to you.