I get my certificate for finishing my Iva in about 3 weeks (hopefully ) I would like to no how soon can I apply for a mortgage , I should have about 60% deposit . Be grateful for any information on this subject.
Once you get the certificate, then the IVA is officially closed and you can try for a mortgage. However, your chances will be far better if you wait until your credit file clears (around 6 years from the IVA start ) and all defaults have gone. Even then you will be limited by lenders criteria --- some will lend right away, some will want to wait 3 or 6 years and some will never lend !
Do not make a 'scattergun' range of applications as refusals will deter other lenders from even looking at you!
You would be wise to consider the services of a broker with experience in adverse credit.
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
Hi Lee. Firstly congratulations on completing your IVA. In terms of a new mortgage, with a good deposit as you have, there may be some opportunities for you but it will also depend on your other circumstances. Some Specialist Advisers like us also have access to products that aren't generally available. As Foggy say, once the IVA disappears from your credit file (6 years from start as long as it is settled) there may be even more, and even more competitive products for you.
Specialist Mortgage Advisers. Highly Commended at the British Mortgage Awards.
Well done on getting through it, i am sure it was not easy!
As Shaun, Luluj and Foggy say, please do not try and do this on your own, seek the help of a professional, i am sure they will offer you much more success.
Best of luck with it all!
IVA Mortgage Expert
Zebra Money Centre