IVA ending, how it impacts new mortgage

dariakruk

Hi, my IVA will end in Feb 2022 I know technically it will still impact my credit score for another year. 

My question is will all accounts included in IVA will get closed? 

I am aiming to get mortgage next year as well, how will bank look at me now? IVA done, but still visible? 

My credit score is very poor because of it, but I haven't missed any payments on IVA, any credit card. I am trying to do everything to get my score higher- electoral roll, long term bank account, credit card payments, bill on time, no hard searches etc. 

should I aim for mortgage in 2022 or wait till 2023 ..

MovingForwards

You're probably looking at 3+ years IVA clear before being able to consider obtaining a mortgage.

Ignore the credit score and rating, they're not seen or used as part of the application; it's the credit history lenders see and use when assessing applications.

Have a chat with an independent whole of market mortgage broker.

flipflopflo

Also to add to @MovingForwards advise make sure you do a credit file clean up once the IVA has ended.