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Re-mortgaging on an IVA
Options
Simon_McMorran
Posts: 1 Newbie
My first post, so any advice gratefully received. My/our IVA should finish in April 2018. In a few months Payplan (IVA company) will ask me to try & re-mortgage, though with an IVA it's highly unlikely. We would then extend the IVA for a further 12 months.
Currently have our mortgage with NRAM at 4.29%, interest only, & am 57.
Firstly does anyone have a similar experience, did you manage to find a company to re-mortgage with, & would you advise this course!
Secondly, I understand that it will take a few years for our credit score to re-build post IVA, am self employed, with no intention of considering retirement for years. Any advise as at the present time of lenders who may just consider us in the future. Obviously wanting a repayment mortgage in the future at a reasonable % rate.
We took the IVA route over the dreaded bankruptcy as we wanted to repay as much as we could to our lenders. Sadly this approach won't help our credit score rebuild!
Currently have our mortgage with NRAM at 4.29%, interest only, & am 57.
Firstly does anyone have a similar experience, did you manage to find a company to re-mortgage with, & would you advise this course!
Secondly, I understand that it will take a few years for our credit score to re-build post IVA, am self employed, with no intention of considering retirement for years. Any advise as at the present time of lenders who may just consider us in the future. Obviously wanting a repayment mortgage in the future at a reasonable % rate.
We took the IVA route over the dreaded bankruptcy as we wanted to repay as much as we could to our lenders. Sadly this approach won't help our credit score rebuild!
0
Comments
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Your options will naturally be limited with an active IVA but if you're serious about re-mortgaging speak to a specialist broker outside of here (no advice is given on this forum) and I'm sure they'll make you aware of the options out there.I am a Mortgage BrokerYou should note that this site doesn't check my status as a Mortgage Broker, 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.0
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