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hi finished by IVA and had completion certificate a year ago. trying to get a mortgage but when tell them that I have an IVA they tell me I can't get a mortgage, should I continue to declare my IVA or having completed it and having certificate mean I do not need to????any advice or guidance would be much appreciated thanks

Hi and welcome

Use a mortgage broker, Ryan in the expert section has secured many mortgages for people post IVA

Regards

Welcome to the forum.... Use a mortgage broker who has experience of gaining mortgages for people who have had iva's. Ryan has had significant success with forum members and has gained mortgages for many members at different rates depending on your circumstances .....give him a ring or email him.

I would never recommend making a false declaration on an application. There are lenders who may consider your application, depending on the deposit that you have available and various other factors. Be careful about applying randomly to too many as this might be more detrimental to any application. If you can supply a bit more information I can probably give you some initial indications.

Only a few post posted earlier on another topic, we hear that people can get credit cards at normal to low rates having been on an IVA and have cleaned up Credit files and loans on double glazing.

Now,it appears that for a mortgage loan - the acid test of credit worthiness...it is a completely different down trodden story post IVA.Where a clean credit files just wouldn't cut it from high street lenders? Why?

It appears that there is no debt forgiveness from lenders as it is remembered despite a settled agreement.

It is crazy!

Hi Bengee79 - I would follow up on Shaun's offer to see what your options are before applying and being rejected elsewhere. there is also Ryan to speak to as well if you want to speak to a couple of brokers. Best wishes with it, you'll get there in the end

For a 1st time buyer....post IVA
-You would need 15%(corrected from previous posting) for a deposit from a specialist lender to be interested and a cleaned up file-

As been mentioned do not go to any high street lender at least not after a year.

Tina, I like you optimism as aways...but the reality is 25% is alot to save up for when 5% deals exist now and not obtainable post IVA.That is the rub.We need a miracle.

The 5% newbuy home flat deals are completely out of reach from specialist lenders

I agree, it's frustrating that mortgage lenders aren't very forgiving - we are regularly promoting ex-IVA'ers to lenders because in our experience they pay better than most! In terms of deposit you need to think a minimum of 15% which isn't unusual in the current climate but I agree, government schemes like newbuy are not achievable.