Morning, We are currently in an IVA and have offered a Full and final, which we should hear the outcome on Tuesday 27th. We are completing early (been in IVA about a year and a half).
We are home owners and are wanting to do some home improvements which we would require a loan for. What are the chances of getting a unsecured or secured loan once when have got our completion certificate? Is there specialist lenders we should approach and what do you think our chances are after IVA completion.
The IVA will blight your credit records for 6 years from the start date, but, at least, will shortly show as complete rather than active ---- doesn't help a lot, but does improve the situation a little.
Getting a loan, secured or otherwise, will depend on a myriad of things, not least of all the loan amount against security, if secured, and against I&E either way.
I would start with a chat with either Ryan and / or Shaun, who are both mortgage brokers with experience in handling applications for those of us with a IVA lurking in the shadows. Their details can be gleaned from their profile pages: