House after IVA

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Pigger479

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Post by Pigger479 » Sun Feb 21, 2021 9:37 am
Hi everyone my partner and I are just looking for some advice .

We were both in IVAs. Mine settled in 2019 but doesn’t come off credit score until 2023 and my partners hopefully being settled on Tuesday ! We want to eventually buy our own house . Would we have have to wait until they have dropped off completely or could we manage it in a few years ?

Foggy

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Post by Foggy » Sun Feb 21, 2021 11:27 am
You can get deals while a completed IVA still shows, but at higher rates and with much less choice of lenders. Better to keep saving that deposit and wait until the IVAs clear down.

Have a word with Shaun or Ryan in the meantime to start preparimng the ground fopr the best chance.
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 Feb 25, 2021 11:21 am
Hi. Once your IVA is settled there may be limited options for you but the real 'sweet spot' is once the IVA disappears from your credit file. Whilst it still limits things for you to an extent, this opens up more competitive options for you.
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Ryan

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Post by Ryan » Fri Feb 26, 2021 5:51 am
Hi, I agree with Shaun but if you do have a large deposit it is possible whilst the IVA still shows. The main thing is getting your credit reports all ready for the lenders. Once you have your completion certificates, the get on to this or see our website for helpful tips on this.
Ryan Radford
IVA Mortgage Expert
Zebra Money Centre

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