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Completed IVA and Interested in a Mortgage for Shared Ownership can this be done???
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peachie1509
Posts: 14 Forumite
in IVA & DRO
Hi I wonder if anyone can help me. For 5 years I have been paying off my IVA and finally made my last payment in May, HORAY! I have been told they processed it the 10th June and I need to allow 3 months for it to complete off and for me to receive my Completion Cert.
I have been looking for a place of my own and have come across some shared ownership deals that I am really interested in and I really am clueless as to whether I could actually get a mortgage. I have spoken to one shared ownership scheme who have told me the banks would not touch me due to my previous credit history. What I don't understand is a if this is truth and b I was advised to go bankrupt but wanted to do the decent thing of paying back as much as I could and in effect paying the same amount as a mortgage for 5 years, is this taken into consideration? I have paid my time (ppl who serve time get their slate wiped clean!?) respectfully and not missed payments etc - will I actually be able to obtain a mortgage? If not how much longer will I need to wait? Or is this on an individual case by case basis? I am keen to carry on with my life now I have paid my dues. Has anyone had success? Can anyone advise me on an upto date case? I have also been told not to check credit rating until my completion is through (ok so im a little impatient but am sitting tight!) as each time you check it goes against you.
Any help re the above would be much appreciated. :-)
I have been looking for a place of my own and have come across some shared ownership deals that I am really interested in and I really am clueless as to whether I could actually get a mortgage. I have spoken to one shared ownership scheme who have told me the banks would not touch me due to my previous credit history. What I don't understand is a if this is truth and b I was advised to go bankrupt but wanted to do the decent thing of paying back as much as I could and in effect paying the same amount as a mortgage for 5 years, is this taken into consideration? I have paid my time (ppl who serve time get their slate wiped clean!?) respectfully and not missed payments etc - will I actually be able to obtain a mortgage? If not how much longer will I need to wait? Or is this on an individual case by case basis? I am keen to carry on with my life now I have paid my dues. Has anyone had success? Can anyone advise me on an upto date case? I have also been told not to check credit rating until my completion is through (ok so im a little impatient but am sitting tight!) as each time you check it goes against you.
Any help re the above would be much appreciated. :-)
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