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Getting back on the house trail after an iva?

HI all,im really pleased to have completed my iva last month after 5 years of careful money management with great help from stepchange, to whom im forever grateful to, for making me see that there is light at the end of the dark tunnel.

i am 45yrs old and rent @ present , i owned a home once but sold for fear of going bankrupt and to pay off some of my debts before going on a dmp leading to an iva.

Having mentioned all this, i want now to save and get back on to the housing market , when the government just brought out the fist time buyer ISA and the lifetime ISA i thought fantastic i must be able to get on one or the other for a higher rate interest?

Having read the small print and listening to martin , i am gutted to find that the first time isa means first time and the life time isa is for under 40s, if im wrong please let me know?.

My question is that: Is there any decent alternatives out there for someone in my situation if im right about the above?.

many thanks for taking the time to read this.


  • groovy_chickgroovy_chick Forumite
    120 Posts
    Ninth Anniversary 100 Posts Combo Breaker
    I am in the same position as you; i'll be 45 next week, renting now but not first time buyer, and can't take advantage of either of the new ISA's.

    The only option that I think I have is finding a new property and using help-to-buy to take advantage of up to 20% government deposit 'loan' so that I can afford such high house prices - I am trying to save up a 10% deposit at the moment but it is a huge mountain to climb and I am worried that the longer it takes me, the harder it will be to get a mortgage that I could be paying into my seventies!

    If you come up with any other ideas then please let me know :)
    Proud to be debt-free 30/6/2020

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