Mortgage after iva.

Legacy_user

Hi all. After completing our iva. It's 6 years since we started it, we can now save up for a deposit for a mortgage. Has anyone had many difficulties obtaining a mortgage? Particularly a 1st time buyer/help to buy mortgage? I know I could go to a broker who specialises in adverse credit but to me that's an added cost I would rather avoid. Anyone recommend a lender?
Thanks.

Mermaid89

I don't have an answer but didn't want to read and run. Seriously reconsider the use of a broker as a good one will be worth their weight in gold. Creditors don't like adverse credit. You say your IVA started 6 years ago but when did it complete?

Craig1981

i would 2nd the above - use a good broker - doesnt need to be one who specialises in adverse credit.

how long will it take to save up for a deposit? have you started to repair your credit history?

ACG

Lenders typically go off the date you finished the IVA rather than the date it started.
If you have been discharged less than 3 years you will need a broker due to the only options being available are through a broker. Once you have been discharged 3 years, there are a couple of normal lenders but not many and fitting criteria does not mean you will be accepted, so you may even need a broker in 3 years.