Mortgage after F&F offer - just 6 months of IVA.

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laura827
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by laura827 » Wed Jun 28, 2017 1:11 pm
I entered into an IVA on 1st November 2016 I made full and final settlement and my IVA was concluded on 31st May 2017. The register has been updated and I have written to all creditors and credit reference agencies requesting my records be updated and included the certificate of completion. I am now wanting to move house and have equity in my home. I would be wanting a smaller mortgage and would have a 25% deposit would I be able to obtain a mortgage? I have no other outstanding debt apart from my mortgage and have never missed a payment on this. I obtained a capital one credit card a few months ago and have been using this regularly and making payments to help improve my credit rating.
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Ryan
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by Ryan » Wed Jun 28, 2017 1:14 pm
Hi Laura,

There are some specialist Lenders who will consider lending following a full and final if you have access to a good deposit. If you were to contact us we would be happy to look at your situation and advise of the options that may be available.

Regards
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Foggy
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by Foggy » Wed Jun 28, 2017 1:16 pm
While the IVA is on your credit files it would be extremely difficult to obtain a competitive mortgage, but I would suggest a chat with Ryan and / or Shaun, whose details can be found under "Quick Links" (top left) then under "The Team" on the drop down.
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Shaun Vickery
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by Shaun Vickery » Thu Jun 29, 2017 2:08 pm
Hi Laura, it's certainly possible although your options will remain fairly limited in the short term and you should expect to pay a higher rate until the IVA fades into the distance. If you are able to accept this then it's certainly worth looking at and, if possible, you should plan to review the arrangement in the future....you shouldn't be stuck with it forever.
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