Mortgage possibilities?

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Kenco
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by Kenco » Sat May 05, 2018 6:32 pm
Hi
Newbie question
I'm looking to move house 220000 mortgage with 35% deposit, the problem is I just finished an IVA September 17. Start date was August 13. The Iva was solely in my name, my wife has enough earnings for single mortgage application. Is it possible or am I wasting my time, till credit report clears. I live in Northern Ireland
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Foggy
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by Foggy » Sat May 05, 2018 6:38 pm
Kenco wrote:
Hi
Newbie question
I'm looking to move house 220000 mortgage with 35% deposit, the problem is I just finished an IVA September 17. Start date was August 13. The Iva was solely in my name, my wife has enough earnings for single mortgage application. Is it possible or am I wasting my time, till credit report clears. I live in Northern Ireland


If your wife has enough salary to support an application in her sole name the chances are that you will have to sign an agreement, setting aside any beneficial interest you might have, as an adult in the property, but not on the mortgage. The title to the property will also likely have to be in her sole name.

Otherwise it would be better to await the 6th anniversary of the start of the IVA and then consult a broker who specialises in adverse credit.
Kenco
Posts: 2
by Kenco » Sat May 05, 2018 7:03 pm
Foggy wrote:
Kenco wrote:
Hi
Newbie question
I'm looking to move house 220000 mortgage with 35% deposit, the problem is I just finished an IVA September 17. Start date was August 13. The Iva was solely in my name, my wife has enough earnings for single mortgage application. Is it possible or am I wasting my time, till credit report clears. I live in Northern Ireland


If your wife has enough salary to support an application in her sole name the chances are that you will have to sign an agreement, setting aside any beneficial interest you might have, as an adult in the property, but not on the mortgage. The title to the property will also likely have to be in her sole name.

Otherwise it would be better to await the 6th anniversary of the start of the IVA and then consult a broker who specialises in adverse credit.


Thanks Foggy
Wow didn't think there was a chance (through financial association) Will see a broker this week and update the outcome
Thanks
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luluj
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by luluj » Sun May 06, 2018 4:11 am
We do have 2 brokers who support this forum with lots of experience - Ryan and or Shaun maybe a good place to start for further specialised advice.
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Foggy
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by Foggy » Sun May 06, 2018 8:52 am
My reply to this thread might help - it gives a link to Ryan and Shaun's details: decaring-my-completed-iva-in-a-mortgage-application-t85163
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Ryan
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by Ryan » Tue May 08, 2018 7:17 am
We'd be happy to look at your situation if you were to contact us.

Regards
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