Shared ownerships mortgage providers that DO accept ex-IVA

notmyrealusername

Background:

I started an IVA in 2006 which was completed by way of F&F settlement in 2009, it came off my credit report in 2012 and have been out of my IVA and managing credit for over 4 years now, I've been saving for a deposit in that time but realistically my only option is shared ownership.

I know there are limited mortgage providers who offer shared ownership mortages and the pool will be lessened as I know that some banks won't accept applications from those who have EVER been in an IVA/bankrupt eg my current account is with Natwest who I believe have this policy.

I was thinking of starting up a financial 'relationship' with one of the banks/building socities who DO offer shared ownerships to ex-IVA so instead of saving my deposit fund each month in premium bonds I would save with one of the banks who might be an option for a mortgage in the future.

Any ideas which ones do shared ownership and consider ex-IVA?

kingstreet

NatWest doesn't do shared ownership at all.

Is it newbuild and what's the loan to value?

jacobtheamish

Leeds Building society will provide a mortgage to ex IVA providing its over 6 years ago, they also do 95% ltv on shared ownership.

Foxy-Stoat_3

Halifax will lend to ex IVA with enough deposit...not sure about shared ownership though but you need to go through a broker or computer says no.

Kynthia

I believe Kent Reliance do SO mortgages but I've no idea of their policy in IVAs.

notmyrealusername

kingstreet wrote: »

NatWest doesn't do shared ownership at all.

Is it newbuild and what's the loan to value?

Thanks Kingstreet, I don't have a specific property in mind at the moment as I'm quite specific on my 'wants' so just taking the opportunity to save more each month. I knew Natwest was going to be a no-go for any mortage due to the IVA so thought I may as well save somewhere that I meet the criteria so I have a 'relationship' with them when it comes to applying - which will definitely be through a broker when the time comes.

I envisage that when I do find somewhere it won't be a newbuild and I'll have a minimum of 10% deposit, maybe 15%.

jacobtheamish wrote: »

Leeds Building society will provide a mortgage to ex IVA providing its over 6 years ago, they also do 95% ltv on shared ownership.

Foxy-Stoat wrote: »

Halifax will lend to ex IVA with enough deposit...not sure about shared ownership though but you need to go through a broker or computer says no.

Kynthia wrote: »

I believe Kent Reliance do SO mortgages but I've no idea of their policy in IVAs.

Thanks, will have a look on their websites. HBOS were part of the IVA so not sure Halifax would be my best bet though!