When can I remortgage post IVA

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Kerrybecka

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Post by Kerrybecka » Wed Nov 07, 2018 2:15 pm
Hi i completed my iva in september this year and it will come off my credit file in june 2019 i need to reportage my house to remove my ex husband i just wondered if i am better to wait until after june ? will this improve my chances of getting a mortgage ? or will doing it now make no difference? thanks kerry

Ryan

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Post by Ryan » Wed Nov 07, 2018 2:38 pm
Hi Kerry,

If you wait until June next year then there are High Street Lenders we have access to who would be willing to lend, subject to affordability and loan to value.

If you were looking to do it prior to then you'd be looking at 'adverse' Lenders and so the interest rates would be quite a bit higher.


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Ryan Radford
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Foggy

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Post by Foggy » Wed Nov 07, 2018 4:01 pm
Waiting until your credit file is clear will both make it easier as well as cheaper (especially in the long run) with access to more lenders at better rates.
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luluj

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Post by luluj » Thu Nov 08, 2018 5:54 am
Another 6 months will save you money in the long run ..if you can wait till its clear from your file it would be more beneficial.

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Shaun Vickery

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Post by Shaun Vickery » Thu Nov 08, 2018 1:41 pm
Unless you are desperate to do something now, it certainly opens up more competitive options if you wait until your IVA is over 6 years since it started. If you are happy to wait then now is still a good time to start any preparatory work ahead of an application, checking your credit file is correct, making sure you are registered on the voters roll, making sure your bank account is well conducted etc.
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