My Iva 6 years ends in April 2018 we have £42K deposit and are looking at buying through a specialist broker for around £215K @ 5% rate due to the IVA.
We are currently renting at £900 p/m so the logic is mortgage @ £1000 p/m although not ideal is still better than another wasted 8 months rent.
My question is if I take this type of mortgage out and want to re-mortgage to a better rate in 2 years would I be penalised as would it show that my mortgage is a specialist IVA mortgage and would this then re-strict my access to better deals in the future as I don't really want to sign up to a higher rate mortgage for too long just to enable us to get back on the property ladder.
Also after checking my credit file all of the 4 major credit agencies don't show my IVA only callcredit who have wrong info showing accounts in default etc and I am in the process of getting it amended, but why doesn't Equifax show my IVA it shows I have perfect credit which is wrong?
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