I was wondering if I could just run a quick question by you please?
When you say ‘after’ an IVA, is it only possible after it’s been removed from your credit file after 6 years, or if you finish early is it possible to get it with a completion certificate but the IVA still on file?
I only ask as my sister has offered for my husband and I (and all four of our children!) to move in with her family for 2 years, what we would save from renting, the IVA company would obviously take, we would have paid all debts, fees and interest in maximum 6 months and have 18 months of big savings, however our Iva only started in 2018, so we would still have a year before it was removed from our files and obviously would need more time to build our score. So we’re thinking perhaps, two years with my sister to save a decent deposit, then perhaps renting again for two years (not touching said deposit) while we wait for it to be removed and to build score, then going for a mortgage, or could we go straight in without renting again?
Thanks in advance, I hope it makes sense and you don’t mind!
**apologies OP for gatecrashing, I jumped on the first post I saw about mortgages and I guess keeping all relevant info in one place may help other people