Getting a mortgage after

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Ivafree92

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Post by Ivafree92 » Tue Feb 18, 2020 2:44 pm
Good afternoon all.

So a little bit about the situation I find myself in, I managed to pay my Iva off early so still have 2 years until its removed from my record but have managed to take some steps into improving my credit.
Ive used loqbox and have a couple months left on that
I've just recently taken out a credit card which gets paid off via direct debit every month its due.
My full and final payment was paid 3 months ago.
I can't take a mortgage until May at the earliest due to being a contractor.
So from December to May time It would've been 6 months
It would be a joint mortgage with my partner and we would have around 50,000 for a deposit. Has anyone else been successful in getting a mortgage as quick as this? I would be expecting to go through a mortgage advisor and would expect subprime which isn't an issue.
Any information on this would be great.

Foggy

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Post by Foggy » Tue Feb 18, 2020 2:49 pm
I would suggest a chat with Ryan and / or Shaun, who are both whole of market brokers with experience with adverse credit.

Their details can be gleaned from their profiles here:

Ryan: memberlist.php?mode=viewprofile&u=18488
Shaun: memberlist.php?mode=viewprofile&u=22837
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

Shaun Vickery

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Post by Shaun Vickery » Tue Feb 18, 2020 4:45 pm
It's certainly likely to be more tricky but there's nothing in what you say so far which, in itself, makes it impossible.
Specialist Mortgage Advisers. Highly Commended at the British Mortgage Awards.

For individual, confidential mortgage advice see my details under the IVA Experts or go to http://clients.theselectpartnership.co.uk/

Ivafree92

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Joined: Tue Feb 18, 2020 2:34 pm

Post by Ivafree92 » Wed Feb 19, 2020 9:34 am
Tue Feb 18, 2020 4:45 pmShaun Vickery wrote:
It's certainly likely to be more tricky but there's nothing in what you say so far which, in itself, makes it impossible.
That's good to hear! am I right in saying my discharge date is set from the date my certificate was issued and not the date my final payment was made.
My whole focus now is on improving my credit to get offered a mortgage the deposit will be around 25-30% in total.

Shaun Vickery

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Post by Shaun Vickery » Wed Feb 19, 2020 9:59 am
The IVA should disappear from your credit file 6 years after it was first REGISTERED. This certainly opens up more options for you going forward, once that happens. Until then your options are likely to be limited but it's not impossible.
Specialist Mortgage Advisers. Highly Commended at the British Mortgage Awards.

For individual, confidential mortgage advice see my details under the IVA Experts or go to http://clients.theselectpartnership.co.uk/

Foggy

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Post by Foggy » Wed Feb 19, 2020 11:14 am
Wed Feb 19, 2020 9:34 amIvafree92 wrote:
Tue Feb 18, 2020 4:45 pmShaun Vickery wrote:
It's certainly likely to be more tricky but there's nothing in what you say so far which, in itself, makes it impossible.
That's good to hear! am I right in saying my discharge date is set from the date my certificate was issued and not the date my final payment was made.
My whole focus now is on improving my credit to get offered a mortgage the deposit will be around 25-30% in total.
Yes, the IVA actually comes to an end on the day the completion certificate is issued, not the day the final payment is made. However, as Shaun rightly says, that 6 year clock starts ticking from the day the IVA started.
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

Ivafree92

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Joined: Tue Feb 18, 2020 2:34 pm

Post by Ivafree92 » Wed Feb 19, 2020 11:33 am
Wed Feb 19, 2020 11:14 amFoggy wrote:
Wed Feb 19, 2020 9:34 amIvafree92 wrote:
Tue Feb 18, 2020 4:45 pmShaun Vickery wrote:
It's certainly likely to be more tricky but there's nothing in what you say so far which, in itself, makes it impossible.
That's good to hear! am I right in saying my discharge date is set from the date my certificate was issued and not the date my final payment was made.
My whole focus now is on improving my credit to get offered a mortgage the deposit will be around 25-30% in total.
Yes, the IVA actually comes to an end on the day the completion certificate is issued, not the day the final payment is made. However, as Shaun rightly says, that 6 year clock starts ticking from the day the IVA started.
That's what I expected, I knew the 6 year point was from when it started I'm just hoping that i don't have to wait that long because I've still got just over 2 years till the 6 year mark.
When May comes around though I'll have to speak to shaun and see if there's any mortgages out there.

Shaun Vickery

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Post by Shaun Vickery » Wed Feb 19, 2020 11:37 am
We'd be happy to help of course. From that perspective, it may actually be worth looking at now. Sometimes there's a little bit of preparatory work to be done in anticipation and this also gives us the opportunity to identify a potential lender early.
Specialist Mortgage Advisers. Highly Commended at the British Mortgage Awards.

For individual, confidential mortgage advice see my details under the IVA Experts or go to http://clients.theselectpartnership.co.uk/

Ivafree92

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Joined: Tue Feb 18, 2020 2:34 pm

Post by Ivafree92 » Wed Feb 19, 2020 1:02 pm
Wed Feb 19, 2020 11:37 amShaun Vickery wrote:
We'd be happy to help of course. From that perspective, it may actually be worth looking at now. Sometimes there's a little bit of preparatory work to be done in anticipation and this also gives us the opportunity to identify a potential lender early.
I am definitely looking, the biggest hurdle at the moment is being a contractor but I've only been contracting for 10months and been told you need to have a year worth of payroll on the books.
Also waiting for the accounts to say settled on my credit report.

Shaun Vickery

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Post by Shaun Vickery » Wed Feb 19, 2020 1:05 pm
Ok, we can give you some guidance and create a 'plan' if that helps.
Specialist Mortgage Advisers. Highly Commended at the British Mortgage Awards.

For individual, confidential mortgage advice see my details under the IVA Experts or go to http://clients.theselectpartnership.co.uk/

Ivafree92

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Joined: Tue Feb 18, 2020 2:34 pm

Post by Ivafree92 » Wed Feb 19, 2020 2:12 pm
Wed Feb 19, 2020 1:05 pmShaun Vickery wrote:
Ok, we can give you some guidance and create a 'plan' if that helps.
Yeah that sounds perfect, everything helps at this stage. I need as much help/information as I can get

Shaun Vickery

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Post by Shaun Vickery » Wed Feb 19, 2020 5:57 pm
For confidentiality, if you click on my information in the Expert's section on the Left hand side of the page you'll find my email address if that helps.
Specialist Mortgage Advisers. Highly Commended at the British Mortgage Awards.

For individual, confidential mortgage advice see my details under the IVA Experts or go to http://clients.theselectpartnership.co.uk/
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