i finished an IVA through a full and final settlement over a year ago. My credit score appears to be ok now and i have been accepted for a credit card recently, which i will use sparingly to help my score further.
My wife is currently in the middle of a debt management plan with no end to that in sight. She has about £11000 outstanding.
We own a mortgaged property that we rent out. There is currently no equity in this property and we would probably break even if we sold it. We are currently living in rented accommodation as we needed more space for our 2 young children.
Now that my IVA is finished, we are desperate to purchase a bigger property rather that renting, and sell our current flat that we own. In the summer next year i will get my final wage rise, taking my salary to £37500. i only have a very small amount of debt on a credit card.
Basically i don't know where i stand or who to contact in relation to this.
With my wife being in a DMP, would we be able to get a joint mortgage?
Will i get accepted for a mortgage after having an IVA?
Will i need savings or equity in order to get another mortgage?
Any help would be much appreciated.
Feel free to contact us if you wish to discuss your situation. It will depend really on when your IVA began. With regards deposit there are no 100% Mortgages these days so you would require a deposit but again the percentage will depend on when the IVA began,
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