Mortgage after IVA

Curlybing

Hi all, I would very much appreciate some advice please. I am about 16 months into my IVA and I have got to thinking that I need to start to plan for my future. I am living in rented accommodation at the moment and I want to think of my future and use my IVA (and the lessons I have learned from it!) in a positive way. I would like to get a mortgage after my IVA but I don't know how difficult that will be because of my credit score. I will be 40 when my IVA finishes and I have heard that it can be more difficult to get a mortgage when you are over 40. I have never had a mortgage and if I am ever going to get into debt in the future, I want it to be a sensible debt. Could anyone advise me on mortgages after IVA please

milliemonster

Being over 40 has no bearing on if you can get a mortgage or not, not sure where you heard that?

To be honest, so early into your IVA it's a bit pointless worrying about your future at the moment, many things can happen with the mortgage market over the next few years and you're not going to be in a position to save anything for the next few anyway.

For the time being concentrate on your IVA, mortgages are not an impossibility for people who have had an IVA but you currently need a specialist broker to secure one, it may be easier in a few years, who knows?