Mortgage after IVA

Ellie86

Hi everyone!

First time posting!

I'm looking for some advice please! I entered an IVA in April 2016 and done a full and final settlement with them so I have been discharged since February 2017. I understand that this will remain on my file still for the next 4.5years.

I currently have a deposit of £50,000 for a house and I earn £38,000. I'm looking at houses that are £160,000.

So what i am asking is there any chance of getting a mortgage? I have made an appointment with a broker but I don't know if I am wasting my time.

Thank you in advance

csgohan4

you need a broker who deals in adverse credit to fully assess your chances and go through your credit history with a fine comb. Don't expect it to be cheap either.


You could try free brokers, but don't expect good service for free

ACG

There are lenders, but the rates will be around 5-6%, perhaps a touch higher.

As Csgohan says, you should get your credit reports in front of a broker with experience in adverse.

Ellie86

Thank you both! I know it's not going to be easy! That's a good idea about seeing a broker who specialises in adverse credit! I will double check with the broker I have contacted to see if he deals with this.