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Life after iva
Bex_17
Posts: 1 Newbie
My husband entered into an Iva in 2016 we cleared it by 2017 I was wondering how best to go about getting a mortgage now, any advice would be greatly recieved please
Thank you
Thank you
0
Comments
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Build up a deposit of at least 20%.
Make sure all the defaults on the credit file are not after the start date of the IVA.
Wait until 2022 then apply for mortgage.
Good luck0 -
You do not need to wait until 2022.
3 years from discharge you should have maybe 3-4 lenders at reasonable rates. So some point in 2020 with maybe a 15% deposit, possibly 10% but if there are quite a few defaults then you are unlikely to pass the score even if you fit criteria.
There would be options once discharged 12 months, but you would need a 20% deposit and rates would be around 5%.
One for an experienced broker I suspect if you want to apply before 2022.I am a Mortgage AdviserYou 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.0
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