What to expect ref mortgage

[nm36]

Hi,
We completed our IVA around 18 months ago and our 2 year fixed rate mortgage which we took out to complete the IVA is due end in January.
Has anyone had experience of getting a new mortgage after a completed IVA or got any idea how much extra in terms of percentage we should expect to pay above current available rates given that we have experienced an IVA.
For example if current rates are 5.75% would we expect to paying an extra 2% on top of this. We did a self cert last time which we may look at again but any experiences that anyone on here has would be appreciated.
Many thanks

[MelanieGiles]

Hi nm36

There are many lenders who will now lend to you, so you should find a broker who specialises in adverse credit mortgages to shop around and find you the best deal. You may be penalised a little, due to the IVA, but I would not have thought this would be too much higher than normal high street rates.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

[mikebdomain]

Hi MM36

If you were self cert last time your rate would already have been loaded - Best bet as Melenie has already said is to approach a broker that can offer advice and make sure that they have a large enough lender panel to be able to offer you a good product from a wide range. If you could prove your income rather than self cert you will get a better rate.

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