Seeking a move

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Post by Crystal78 » Wed Sep 08, 2021 6:08 pm
Hi, I have just started my IVA first payment is due on Friday. I currently live in a rental house with my six children and Husband. We live in the south east and the rental cost is very high. We want to move to the north of England to either buy or rent as we would half what we are paying here. We are both from that way anyway. I spoke with a mortgage adviser and was told that I would need a 30% deposit while in my iva and 20% a year after finishing, also that obtaining another rental property would he difficult. I want to buy to provide some security for my children. The uncertainty of renting has been very stressful, we had to move during COVID as the Landlord sold the house we were in for 4 years. I feel at this rate with the high deposits I will never be able to provide a stable home for my children.


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Post by kallis3 » Wed Sep 08, 2021 6:20 pm
You are highly unlikely to be able to get a mortgage whilst in an IVA. As regards renting, private landlords are less likely to do a credit check. You can always get a reference from your current landlord and/or ask someone to be a guarantor for you.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.


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Post by Foggy » Wed Sep 08, 2021 7:12 pm
Your mortgage adviser is being a bit glib --- you will not get a mortgage with a reputable lender while in an IVA.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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