Can I get accepted for a let to buy scheme whilst in an IVA?

Get expert opinion. This is the place for new questions to be posted.
2 posts Page 1 of 1
User avatar
Posts: 1
by ross841 » Mon Aug 14, 2017 5:20 am
Can I get accepted for a let to buy scheme whilst in an IVA? The housing developer salesman is willing to look into this for me, I am waiting reply on verdict, but although he is willing to try and exempt me froma credit assessment following explaining my circumstances, he wont have the power to let me on this scheme with the Government scheme allowing it I imagine? The question is can I use this scheme in an IVA, potentially taking the timeframe of upto 5 years, by then I will have got rid of my IVA and will be 2 years clear to secure a mortgage indipendantly to buy the property. Normally the mortgage application is in place immediately, then the person has the option to purchase at the point they have enough deposit saved between there personal savings and what rent has built up. Technically if the housin gdeveloper salesman is willing to help me get on there scheme, is it that simple to give me the scheme but leave out the mortgage bit , leave that for me to give the go ahead near the 5 year time frame is ending?
User avatar
Industry Expert
Posts: 955
by Ryan » Mon Aug 14, 2017 7:48 am
Hi Ross,

I presume you mean the Help to Buy scheme? If so then unfortunately the Lenders that lend under that scheme are the High Street Lenders and the earliest that we could obtain a Mortgage from them would be 6 years after the IVA began.

Feel free to contact us for more information.

2 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”

Who is online

Users browsing this forum: No registered users and 28 guests