When can i legally have a mortgage again

3 posts Page 1 of 1
Post Reply
 
 

ent

User avatar
Posts: 3
Joined: Mon Aug 20, 2007 11:29 am
Location:
Post by ent » Mon Aug 20, 2007 11:30 am
Quote
I am currently have an IVA. When can i legally have a mortgage again. Im hearing different things. Is it 6 years after the completion of my iva period?
Top
 
 

Skippy

User avatar
Posts: 20720
Joined: Sat Oct 21, 2006 6:08 pm
Location: United Kingdom
Post by Skippy » Mon Aug 20, 2007 11:35 am
Quote
Hi ent and welcome to the forum. You don't have to wait 6 years to apply for a mortgage - you can actually apply for a mortgage whilst in an IVA. This would have to be done with the permission of your IP, and you would need a deposit of approximately 15-20% from a third party. Also, the mortgage payments would have to be no more than it would cost you to rent. Finally, you would have to apply through a broker, and you would get a slightly higher interest rate.

Yesterday is history, tomorrow is a mystery, today is the present - a gift to make the most of.

View my blog at http://skippy13.blogs.iva.co.uk/
Top
 
 

Adam Davies

User avatar
Posts: 14596
Joined: Thu Mar 29, 2007 12:21 pm
Location:
Post by Adam Davies » Mon Aug 20, 2007 11:51 am
Quote
Hi
Just to add that you would normally have to be in an IVA for at least six months and you will need a reference from your IP stating that payments are 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
Andam Davies
Top
Post Reply
3 posts Page 1 of 1
Return to “IVA postbag for august”