Completed IVA in Oct'2017. Can we sell house now? We are desperate to move house

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Damian.d
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by Damian.d » Thu Feb 01, 2018 7:43 am
Hi there I completed my iva term in Oct 17 and me and my wife are desperate to move house now due to having 2 kids and need more room am I able to sell my house and buy a new one or do I need to wait until oct18 before start to look
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Foggy
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by Foggy » Thu Feb 01, 2018 8:00 am
You need to wait until you have the completion certificate before you sell your house and wait until the restriction has been lifted. As for buying new, you will find it difficult to get a new mortgage until the 6th anniversary of the start date of the IVA, when the IVA is due to drop off your credit files.
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Ryan
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by Ryan » Thu Feb 01, 2018 9:08 am
Hi Damian,

As Foggy has said it's normally not until the 6th Anniversary of the start date that we can look to use a High Street Lender. There are Lenders who may look to lend before then if you have access to a large deposit.

Feel free to contact us to discuss your situation though.

Regards
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Shaun Vickery
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by Shaun Vickery » Thu Feb 01, 2018 10:30 am
A lot will depend on when your IVA was first registered as well as the amount of deposit you are able to make available. The 6 year anniversary since your IVA was registered is certainly a water shed which loosens things up greatly but it's not necessarily the only thing.
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Damian.d
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by Damian.d » Thu Feb 01, 2018 3:41 pm
I have completed my iva in Oct 2017 and want to know if it is possible to now finally move house with my wife
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Ryan
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by Ryan » Thu Feb 01, 2018 3:50 pm
Hi Damian,

It will depend on when the IVA began, amount of deposit available etc. You may well be looking at 6 years after the IVA began before a High Street Lender will look to lend but feel free to contact us to discuss your situation.

Regards
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Foggy
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by Foggy » Thu Feb 01, 2018 4:27 pm
Topics merged.
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