Help to buy mortgage post IVA?

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charlie686

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Post by charlie686 » Tue Oct 01, 2019 6:59 pm
I have recently been in an IVA and have just completed this with a full and final settlement and the credit agencies are in the process of updating my reports and creditors to make the amendments. Will I be eligible for a help to buy mortgage?

Foggy

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Post by Foggy » Tue Oct 01, 2019 7:07 pm
It is possible, but the chances of a deal will improve after the IVA clears your records at 6 years from the start date.

I would suggest a chat with Ryan and / or Shaun, who are both whole of marjet brokers with experience in this particular field. Their details can be gleaned from their profile pages 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 » Thu Oct 03, 2019 10:05 am
Yes it's possible although the criteria is fairly restrictive until, as Foggy says, the IVA is removed from your credit file (6 years from commencement if it is satisifed).
Highly Commended at the British Mortgage Awards. For individual mortgage advice go to http://clients.theselectpartnership.co.uk/

charlie686

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Post by charlie686 » Thu Oct 03, 2019 10:22 am
Thanks for your comments. Can you advise on the restrictions? and if there is anything I can do in the meantime to improve my chances?

Shaun Vickery

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Post by Shaun Vickery » Thu Oct 03, 2019 4:10 pm
Pleasure Charlie. It's really just that, as a result of the fact that most lenders will not consider an application from you at this stage, your options (and what is available) will, at best, be limited. What is achievable will depend on when your IVA was registered and settled, as well various as other criteria such as your income. Ideally in this situation you should engage with a specialist broker who can look at your circumstances and determine whether a mortgage would be available to you immediately. Even if not, they will be able to guide you as to what you need to do (or how long you may need to wait).
Highly Commended at the British Mortgage Awards. For individual mortgage advice go to http://clients.theselectpartnership.co.uk/
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