My IVA is finished is it hard to get a mortgage

bart18

I have just finished paying a five year IVA. All payments were paid on time with no holiday periods. We would like to buy a property and have saved a deposit. Has anyone had problems borrowing money for a mortgage after paying an IVA. Any advice would be great.

Freddie_Snowbits

It shouldn't really cause a problem.

I would advise yous ask more than one lender, including the high street banks and building societies and do not take the first offer that comes up. (My bank once offered 3 times what i got a hundred yards up the road.)

I recall in the eighties having an IVA for a car that I managed to crimp, and when I was only 1 year into a two year deal, I managed to get a mortgage at reasonable rates

100mel

Being in almost exactly the same position myself I sympathise. I have just completed an IVA too. I'm trying to move mortgages and slightly increase mine and my broker is having to hunt around. Seems that many lenders are more interested in the past than either the amount of equity in my house or the future

Melanie

Freddie_Snowbits

Come on now chaps, use your legs and walk down the high street. You do not have to take anyones offer. If in 1999 when I completed my degree, if I took my banks advice and listened to them, I would have paid 12.49%. (6 months Mortgage Holiday!)

I walked down the High Street in Coventry and got 4.29% discounted, which upset the Estate Agent, as it beat his offer as well at the same Building Society. If the people you speak to are not prepared to listen, move on to the next.

But remember, do not let them fleece you!!!