My IVA started in December 2013 and my creditors accepted a full and final settlement on 6 January 2018. I have my completion notice and my name is no longer on the insolvency register. My understanding is that the IVA will show until 6 years have passed but shows on m credit report as satisfied on 6/1/18.
My question is would I be eligible for Help to Buy or would I be excluded because the 6 years are not up. I have approx £200,000 to put down on a £350,000 house. I currently have a mortgage that I have had for 18 years and never made a late payment on. Any advice would be really appreciated. Thank you!
Have a word with either Shaun or Ryan, our resident mortgage experts to see if they can give advice.
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At present unfortunately the earliest that we could look to obtain a Mortgage on a Help to Buy property would be 6 years after the IVA began. Sadly the Lenders we have access to who will lend prior to then don't currently lend on schemes such as the Help to Buy.
Regards
Ryan Radford
IVA Mortgage Expert
Zebra Money Centre
IVA Mortgage advice needed? Looking at Right to Buy and completed IVA still on credit files ?
NickiJB wrote:My IVA started in December 2013 and my creditors accepted a full and final settlement on 6 January 2018. I have my completion notice and my name is no longer on the insolvency register. My understanding is that the IVA will show until 6 years have passed but shows on m credit report as satisfied on 6/1/18.
My question is would I be eligible for Help to Buy or would I be excluded because the 6 years are not up. I have approx £200,000 to put down on a £350,000 house. I currently have a mortgage that I have had for 18 years and never made a late payment on. Any advice would be really appreciated. Thank you!
Hi Nicki
The earliest opportunity for you to obtain a Mortgage on a Help to Buy property would be 6 years after the IVA was first registered.
Or 3 years after Satisfaction (whichever comes earlier).
There are Lenders that could entertain a mortgage now, but not utilising Help To Buy, unfortunately.
A High Street mortgage in sole name eg Wife/Partner could be possible, subject to Affordability & credit history.
