Where would I stand getting a bigger mortgage ?

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Damian.d
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by Damian.d » Tue Nov 07, 2017 3:22 pm
Hi there I am coming to the end of my payments for my iva which ends Dec 1st 2017 and my 6th year ends Oct 2018 I am a homeowner and my mortgage stands at 78000 my house is currently valued between 105000 and 112000 I now have a bigger family and me and my wife want to buy a bigger house where would I stand in getting a bigger mortgage to move house would I have to wait until Oct 2018 to apply or is there a chance of looking from Jan 2018
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kallis3
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by kallis3 » Tue Nov 07, 2017 3:45 pm
Hi,

Have a word with either Shawn or Ryan who are our resident mortgage experts to see if they can help.
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Ryan
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by Ryan » Tue Nov 07, 2017 3:46 pm
Hi Damian,

It will depend on income, affordability etc but prior to the 6 year point there may be Lenders who will look to lend if you have a good deposit available. At the 6 year point we would be looking at using High Street Lenders depending on your circumstances at that time.

Feel free to contact us to discuss further.

Regards
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Damian.d
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by Damian.d » Tue Nov 07, 2017 6:42 pm
Thanks for your response I think I will wait until Oct 2018 as will have bout 30k and the 6 years will have passed too so be in a great position hopefully as I am currently earning towards 40k and my wife 35k so with the deposit we should be in a great position as the iva is in my name solely
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Ryan
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by Ryan » Wed Nov 08, 2017 8:30 am
we certainly have access to High Street Lenders who will look to lend normally at that point.

Regards
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Lisa Thomas
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by Lisa Thomas » Wed Nov 08, 2017 10:27 am
Have you allowed an extra year for the potential extension for the equity in the property?
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