I am currently in an IVA. At the moment going strong for a year. my Father will be giving me money to settle the IVA including a Deposit for a house. Both mum and dad will be giving me 20000 in total towards a deposit for a house. I am currently in a situation though in regards to help to buy. Will i be able to go through the help to buy scheme even though i have just settled the iva. The house itself i have already got eyes on. The problem is finding a lender with help to buy. I am stuck in this situation and need some help in regards to how to proceed. It will be both me and my wife applying for the mortgage and she has credit that is squeaky clean so im kind of the one that messed up somehwhere down the line. Really doing bits to get a grip this year and proud i made it this far. As far as magic plastic goes i really think i have learned my lesson. I just would like help to move on to the next chapter of my life. Would appreciate any kind of help. Thanks
You may have difficulty with Help to Buy with the IVA being so close to the start date, even after you make the F&F offer and I would suggest a chat with Ryan and / or Shaun who have extensive experience with adverse credit and mortgages.
Handle the gift carefully ---- the funds for the full and final offer must come direct from your parent's account ---- they can give you the house deposit AFTER the IVA is complete and you have your certificate.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014 http://foggy.blogs.iva.co.uk