How to get back on track after IVA?

Lilypie10

Hi,hopefully some of you wise people can help! I have recently been able to settle my IVA. For long term prospects for gaining a mortgage I need to build my credit record back up. I don't ever really wants loans again but happy to get a credit card for fuel to pay off in full each month to build some new 'history'. Is this the best thing to do?

All and any tips very gratefully received, thanks!

System

Yup, thats the way to do it. Get a starter card and then grab another every 2 years. Keep your utilisation low and pay in full every month.

MovingForwards

Get a credit building card like aqua, marbles, capital one etc and spend/ pay off in full.

If you don't already do it keep a spreadsheet of your income/ outgoings and keep track of your budget.

Start saving a bit each time you get paid into a separate account which you don't touch, you are then getting your mortgage deposit together.

Lilypie10

Thanks for the helpful replies, much appreciated 😊