When can I remortgage?

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Kerrybecka
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by Kerrybecka » Thu Sep 06, 2018 4:49 pm
Hi I am due to make my final Iva payment this month after 5 years ! I am hoping to remortgage my house to remove my ex husband off the property can anyone advise me when the Iva will drop of my credit file ? I spoke to a mortgage broker who said I won’t be able to get a mortgage until 6 years after it’s completed is this true ? Any help would be greatly appreciated
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Foggy
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by Foggy » Thu Sep 06, 2018 5:02 pm
You will not get a remortgage until your credit file is clear, which starts after 6 years.

Are you sure that this is the end ? Has equity release been addressed ?
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kallis3
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by kallis3 » Thu Sep 06, 2018 5:03 pm
Correct but I do suggest speaking to either Ryan or Shaun who are our mortgage experts.
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luluj
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by luluj » Thu Sep 06, 2018 8:37 pm
Habe a chat with Ryan and or Shaun our mortgage experts on the forum as Kallis suggests ...they have helped alot of iva customers at different stages of their journey.
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Ryan
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by Ryan » Fri Sep 07, 2018 7:29 am
Hi Kerry,

Most Brokers don't come across IVAs too often so they don't really know who will lend when to be honest. 6 years after the IVA began, as long as your Completion Certificate has been issued is the earliest that we could look to obtain a Mortgage with a High Street Lender at normal interest rates.

Regards
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Lisa Thomas
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by Lisa Thomas » Fri Sep 07, 2018 8:19 am
You will possibly find that your IVA has to be extended for another 12 months, depending on your terms and the level of your equitable interest in the property...
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