www.iva.co.uk

Posted: **Thu Jan 10, 2008 3:34 pm**

I am now in the second year of my IVA and am currently renting a house. Would it at all be possible to obtain a mortgage with this IVA?

Many thanks

Posted: **Thu Jan 10, 2008 3:38 pm**

Hi
Yes it is
You will need a 10-15% deposit,maybe more,from a third party,permission from your IP and your new mortgage payments must not affect your ability to pay your IVA.
Finally you would be best to go through a mortgage broker who will be able to find you the best deal.
Regards

Andy Davie
IVA.co.uk Spokesperson and Website Manager

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

Posted: **Thu Jan 10, 2008 4:48 pm**

It is not impossible to obtain a mortgage whilst in an IVA, however you would need the express permission of your I.P. Also you would need the deposited funded by a family/friend or another third party.

Andy makes a good point, your mortgage payment will have to be the same if not lower than the rent you are currently paying as to not affect your IVA payment. Call your I.P to discuss this and see what they would advise.

Best Regards,
IVA Experts
http://www.iva-experts.co.uk/