Mortgage possibility

[Daryl1986]

Hi, sorry in advance if this question has already been asked/ answered.

I entered into my IVA in September 2015 and was successfully discharged in September 2020. This will fall off my report in September this year. We are hoping to secure a mortgage in the next few months, has anyone ever secured a mortgage before the IVA has falling off their credit report? I know the easy thing to do will be wait until September but we are living with the in-laws to save for a deposit and it’s proving difficult living arrangements. We have 15% deposit in the next 2 months. Thanks

[kallis3]

Well done for finishing.

Mortgage wise I would speak to either Ryan or Shaun who are mortgage experts who post on here and both have been successful with posters in a similar situation to you.

www.ivamortgageexpert.co.uk
shaun.vickery@theselectpartnership.co.uk

[Foggy]

Waiting those few months might save you an awful lot of money in the longer term, as more lenders become available at better rates.

[luluj]

Echo Kallis and Foggy advice. I can personally vouch for Ryan who has been helping us with mortgage products for 10 years now. Specialist support for those with an iva in the background.

[Daryl1986]

Thanks for the reply’s. I will give Ryan a message as I see he’s been very helpful on this page.

[kallis3]

Let us know how you get on.

[Ryan]

Hi Daryl1986
The simple answer is Yes you can get a mortgage with an IVA still showing on your credit file, but you would need a 25% deposit and the rates would be around 6%.
If your credit file is clean in September we can do this with only a 10% deposit and at high street interest rates, so would i recommend waiting, then most definitely yes.
Hope that helps, if you need more exact info, please contact me at the website below
Good luck and well done getting through it all!!