When could we apply for a new mortgage

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by michelle446 » Mon Sep 10, 2018 12:57 pm
my husbands iva comes to an end October 2018 he has had it for 6 years, my question is will this be gone from his credit report once it come to an end? ideally we want to look at selling our house and getting a new new house but I am unsure if we will be able to apply for a mortgage. many thanks
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by Ryan » Mon Sep 10, 2018 1:00 pm
Hi Michelle,

If the IVA has Completed we have access to High Street Lenders that would look to lend normally 6 years after an IVA began. Most Lenders however won't look to lend until an additional period of time has elapsed (some maybe an additional 3 year and some possibly 6) and some sadly would never consider lending after an IVA.

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by Foggy » Mon Sep 10, 2018 1:50 pm
Before applying for any credit again you need to make sure the credit files are clear ( have a read here: https://www.iva.co.uk/what-does-an-iva- ... dit-record ).

If the last payment is October 2018, it will take up to 6 months to issue the completion paperwork, but most firms do it in a couple of months. Then the Insolvency Swervice will take three months to remove the entry on the Insolvency Register ....... it is going to be around next March before things start to lok healthy again.
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