Mortgage with IVA on file

LouisVega

Hi all,

I have an IVA on my credit file for another year, it was settled early just under 4 years ago. My wife's credit file is all in order.

My wife and I are looking for a joint mortgage to purchase a property. Looking to borrow well within our income multiples and the loan required is less than 50% of the property value.

Can anyone recommend a mortgage provider who would look at our application and not instantly decline us due to my IVA?

Thanks

ACG

You will probably need a broker on this. I dont think there will be any high street lenders, but i dont doubt for a minute you will be able to get a mortgage.

I would get your credit reports and take them to a broker to try and find you a good deal.

LouisVega

Thanks for the quick reply, how would I go about finding a reputable broker who could help in my situation , are you allowed to make recommendations on this forum?

ACG

No were not allowed as its seen as a potential conflict of interest - from your point of view anyone i recommend you have no way of knowing whether i have a deal with them or not.

Do you have friends/family who have used a broker? or google?
You could do with looking for whole of market or independent brokers. you might come across the odd broker who doesnt like doing adverse mortgages who will just tell you it cant be done for a year or so until it drops off your file, just ignore them and find another broker who is prepared to look at it as there will be lenders out there if they do a bit of leg work.

LouisVega

Cheers, thanks for the info.

danielanthony

Just for info if anyone else reads this. I had an IVA which finished in 2008, I got a mortgage (90% LTV) with Britannia in 2009 and remortgaged in 2011 with ING/Barclays.

Having had an IVA doesn't bar you from all high street lenders.