Page 1 of 1
Posted: Thu May 22, 2008 6:51 pm
by Debt Monkey
Hi all, any former IVA peeps still contributing to the forum who have successfully got reasonable rate mortgages after the conclusion of the IVA? I am considering selling my home to offer a full and final (numerous personal reasons for this descision). Just wondered what the likelihood is of getting a decent mortgage after the IVA, even if I save up for ages and ages and got say a 20% deposit. Any thoughts.
Many thanks forumites.
DM
Posted: Thu May 22, 2008 7:16 pm
by Andrew Graveson
Hello DM,
The availability and rates will depend on:
1 - Whether the IVA still hows on your credit file (6 years after the start of the IVA it should not be there).
2 - If you're looking for the mortgage less than 6 years from the start of the IVA, how long it has been since the IVA was completed. For example some lenders are happy to offer certain products if the IVA has been completed for 12 months or 24 months.
Your thoughts on the deposit are smart; that applies to everyone currently whether or not there's an IVA in place.
Posted: Thu May 22, 2008 8:29 pm
by Debt Monkey
Yes I was thinking after 6 years from the start, might go back to renting for 3 years, save like mad and then start a fresh! Anyone out there done it and got a decent rate or am I kidding myself???
DM