Do you have to wait 6 years after an IVA before getting a mortgage?

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mo193
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by mo193 » Thu Feb 08, 2018 7:54 am
My husband and I entered into an IVA in October 2013 we did a F&F settlement in October 2014 which completed in March 2014 my question is shall we wait to move home until 6 years from start date or can we get a mortgage now? I’ve been told we can apply for a mortgage for £999 fee but if it’s declined we lose that fee.

Please help - any advice greatly appreciated
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Ryan
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by Ryan » Thu Feb 08, 2018 8:31 am
Hi Mo,

Firstly I'd always tell anyone not to pay fees upfront - if they haven't done anything for you yet why pay anything.

As you paid the IVA off early there may be Lenders willing to look to lend to you at this point. A lot will depend on the size of the deposit available and credit scoring. Feel free to contact us though if you would like us to look into your situation.

Regards
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Foggy
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by Foggy » Thu Feb 08, 2018 9:11 am
I agree with Ryan on the fees, especially as they quote "£999", which is probably plucked out of the air to appear below the psychological £1000 barrier and bears no relation to work done!
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Shaun Vickery
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by Shaun Vickery » Thu Feb 08, 2018 11:15 am
I'd echo previous comments regarding fees....anyone needing to charge their fee up-front rather than on success might be doubting their own ability. Depending on your other circumstances (amount of deposit, income etc) then it may be possible. A decent specialist adviser will be able to establish this before you commit anything.
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kallis3
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by kallis3 » Thu Feb 08, 2018 11:57 am
I agree - seek advice. Shaun or Ryan will be able to advise you.
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