Steps to get good credit rating after IVA

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Amy.j
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by Amy.j » Mon May 15, 2017 3:38 pm
Hi there

I am currently in an IVA for less than 4 years left (I know its a while yet) but myself and my partner are planning on getting a property in the near future once my IVA has cleared then I can start putting money a side for a house. Is it possible to get a mortgage after coming out of an IVA when it finishes? What would be the steps would I need to get myself a good credit rating, if so how long does it take?

TIA

Amy
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Amy.j
Posts: 62
Joined: Mon Oct 24, 2016 7:50 pm
by Amy.j » Mon May 15, 2017 3:39 pm
Hi there

I am currently in an IVA for less than 4 years left (I know its a while yet) but myself and my partner are planning on getting a property in the near future once my IVA has cleared then I can start putting money a side for a house. Is it possible to get a mortgage after coming out of an IVA when it finishes? What would be the steps would I need to get myself a good credit rating, if so how long does it take?

Thanks.
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Ryan
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by Ryan » Mon May 15, 2017 3:51 pm
Hi Amy,

The most important factor will be to make sure that all the information on your credit reports (Experian, Equifax and Callcredit/Noddle) has the IVA start date recorded against them (defaults, etc) so the reports are clear at the 6th Anniversary of the start date. Along with that make sure that you are showing on the electoral register - that's a major plus on credit score where Mortgages are concerned.
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kallis3
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by kallis3 » Mon May 15, 2017 4:25 pm
Merged to avoid confusion.
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Foggy
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by Foggy » Mon May 15, 2017 7:45 pm
For credit clean up have a look here:

http://www.iva.co.uk/what-does-an-iva-d ... dit-record

For mortgages you need to speak to a broker experienced in adverse credit, such as Ryan and / or Shaun, who both post on here.
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Lisa Thomas
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by Lisa Thomas » Tue May 16, 2017 8:18 am
Hi

You might find this quick video I made about cleaning up your credit record useful:

https://www.youtube.com/watch?v=PV4RzUY4BRM

Noddle and Clearscore are also free credit agencies to consider using:

https://www.noddle.co.uk/
https://www.clearscore.com/
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