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Posted: Sun Jun 29, 2008 1:39 pm
by holly14
Has anybody got a first time buyers mortgage during their IVA?
What did your IVA company say about it?
Posted: Sun Jun 29, 2008 5:49 pm
by Adam Davies
Hi
It is possible as I did this.
You need a healthy deposit[20%]and your IVA must be upto date.You will need permission of your IP and the mortgage payments must not impact on your ability to pay your IVA payments
Regards
Posted: Sun Jun 29, 2008 5:54 pm
by holly14
We have the deposit and mortgage sorted. Had a letter from IP saying mortgages were viewed as credit and therefore I couldn't have one but was told before starting IVA that mortgages were fine as they were secured against house. Now my IP will not return any of my calls.
Posted: Sun Jun 29, 2008 6:04 pm
by MelanieGiles
So long as the new mortgage payments are no more than you are paying in rental, I cannot see any reason for your IP to deny you the right to enter into a mortgage.