www.iva.co.uk

Hi we have just settled with full and final on our iva within the last month. We now need to move can you advise if the government help to buy would help us as I believe the iva will remain on our file? Also if not will other mortgage companies help?

Whilst your records show the iva itis doubtful that any mortgage broker will be able to source you a mortgage without a very large deposit. Your record will continue to show until the 6th anniversary of the start of uour iva. If you have not received your comoletion certificate by this time it will remain on your record until then.

we are having the same problem as you. Completed iva 3 years ago but only got CC last May have a good £30k deposit but struggling to get a mortgage for a £125k house.

You should be able to get something by now. Try a specialist broker such as Shaun Vickery or Ryan who post here. I know Shaun has been able to get mortgages from the High Street for people whose IVAs closed less than 2 years.

No harm in trying as a broker can let you know quickly what can and cannot be done.

It's not always the case that the IVA has to have disappeared from your credit file but it does open up more possibilities. It really depends on the rest of your circumstances but you should ideally think in terms of a minimum deposit of 15%

Shaun is 15% the deposit required only when an IVA is still on your file?
Or do we need to be looking 15% in any case?

Thanks

if you want to contact Shaun Ryan direct to ensure they receive your question why not use the ask experts a question link to the left and scroll down the experts until you find Shaun or Ryan and locate their contact details.

Neither mind answering questions. Good luck and hope you get something very son.

I know that 15% opens more doors for everyone whether in an IVA or not but once your credit file has cleared up there are products available with smaller deposits. I think these tend to be more expensive so the higher the deposit the cheaper the rate.

Hi Christabelle. The 15% is only a bit of a yard-stick really. It really depends on the rest of your circumstances but anyone specifically experienced in this field will be able to give you some guidance based on your own situation.

Thanks Shaun,
Like I have said before, In the near future we will definately be touch to see what you can help us with.

Many thanks

Fantastic Christabelle, always happy to help.