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Posted: Sat Nov 17, 2007 6:28 pm
by vanessa.d
Will it be possible to get a mortgage. I have just started my IVA and pay £850 a month rent so would be able to get a mortgage for less but would any lender take me on. i earn £45k a year as I have just got a really good job.
Posted: Sat Nov 17, 2007 6:32 pm
by cul8tr
Speak to your IP - was in the same situation as yourself a few years ago and I was allowed to do so - plenty of guys post on this forum who shold be able to help with the mortgage etc - but as always, speak to your IP in the first instance.
As long as your mortgage payments and no dearer than your rent I think it should be supported.
Posted: Sat Nov 17, 2007 8:45 pm
by Adam Davies
Hi
It is possible but one of the biggest obstacles is findng a deposit.In the present climate you will need at least 15% and obviously can't come from yourself but a third party.You will need permission of your IP and you must make sure that your IVA is upto date.
Regards
Andy Davie
IVA.co.uk Spokesperson
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: Sun Nov 18, 2007 12:02 pm
by mikebdomain
Hi vanessa.d
Yes, you will be able to get a mortgage, as Andy has previously stated you will need to find third party funding for your deposit and need to obtain the permission of your IP / creditors.
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Posted: Sun Nov 18, 2007 12:02 pm
by Welsh Boy
Vanessa
In answer to your question can you get a mortgage, this will depend on a couple of factors firstly permission from your IP and also if this was acceptable to your IP then whether you could get a mortgage or not would depend upon your own particular circumstances. No 2 cases are the same, and the outcome would depend on the details of acredit search. As Andy quite rightly points out a deposit if you are purchasing would be required. Tony
F.P.C. 1,2,3 Qualified
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