WHat are the chances of getting a mortgage?

[rak]

With IVA, can I apply for Mortgage. WHat are the chances of getting a mortgage?

[Andrew Graveson]

Hi rak,
Do you have a mortgage already or are you thinking about buying a home while you are in an IVA?

Andrew Graveson
Independent Mortgage Broker & Bright Oak Debt Management
andrew@brightoak.co.uk
www.brightoak.co.uk

[MelanieGiles]

If you are already in an IVA, you will need to get the supervisor's permission for a mortgage, and probably need a sizeable deposit from monies which are provided by a third party.

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

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

[rak]

Hi,
I dont have a IVA yet and planning to go for one. But before this I would like to go for a part ownership scheme as I have a letter from Thames Valley.
Now I few question:-
What are the chances of getting a mortgage After, If I had already declared IVA?
If I dont declare IVA, and go for Mortgage, Will IVA take away only the equity which I WILL EARN IN 5 YEARS?

[mikebdomain]

Hi Rak
If you take out the part ownership scheme with Themes Valley - refered to I believe as the homebuy scheme before you go into an IVA you will be unlikely to remortgage during your IVA to be able to release any equity.

This is based on the products that are available to applicants currently in shared ownership schemes.

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