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Getting a mortgage after an IVA

timberflake
timberflake Posts: 1,623 Forumite
in Mortgages & endowments
My girlfriend and I are in the process of saving a deposit for a house, but I have previously been in an IVA which is now completed and dropped off my credit profile just over 2 years ago.

Is the fact that I was in an IVA going to affect our chances of getting a mortgage with a decent interest rate? Or will it not be an issue as it's no longer on my credit profile?

Comments

  • ACG
    ACG Posts: 24,688 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    It wont be easy.
    There will be lenders who will consider it but rates are unlikely to be market leading (although not astranomical).

    I would get all 3 credit reports down to a broker.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • danielanthony
    danielanthony Posts: 517 Forumite
    I had an IVA and have had mortgages from ING, Britannia and Halifax over the last 6 years. My IVA started in 2003 and finished in 2008, cleaned up my credit files and in 2009 got my first mortgage at 90% LTV @ 5% with Britannia.

    So yes, it is possible.
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