We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Want to become a Forum Ambassador? Visit the Community Noticeboard for details on how to apply

Mortgage after IVA

Hi
I'm new to the forum and cannot find a post that answers my question. We have a IVA due to finish next year, what are our chances of getting a mortgage once it is settled and completed? Do we stand any chance or no chance at all, would it be better to wait till the IVA is completed till we look into getting a mortgage??? Help!!!:)

Comments

  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    If you've the deposit for a mortgage. Then settling the IVA earlier will accelerate the healing process. You'll find mainstream lenders unwilling to lend for considerable time after settlement and when they do will require a sizable % deposit.
  • maidenm
    maidenm Posts: 10 Forumite
    Dont have the money to settle IVA any sooner, but wanted to look into these things because i would like to think that the possibility of owning our own house again. Had a previous mortgage and paid that off when the house was sold, this was before the IVA was started but dont suppose that will count for anything now!!!
  • _Andy_
    _Andy_ Posts: 11,150 Forumite
    maidenm wrote: »
    Hi
    I'm new to the forum and cannot find a post that answers my question. We have a IVA due to finish next year, what are our chances of getting a mortgage once it is settled and completed? Do we stand any chance or no chance at all, would it be better to wait till the IVA is completed till we look into getting a mortgage??? Help!!!:)

    Without knowing how much deposit you have saved up and likely property value it's impossible to say.
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 353.9K Banking & Borrowing
  • 254.3K Reduce Debt & Boost Income
  • 455.2K Spending & Discounts
  • 246.9K Work, Benefits & Business
  • 603.5K Mortgages, Homes & Bills
  • 178.3K Life & Family
  • 261K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.