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Mortgage broker for shared ownership with recently completed IVA
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Rozzi25
Posts: 4 Newbie
I'm looking for guidance and a glimmer of hope. We have just completed an IVA, and we have found a shared ownership property, which we love. So far, we haven't had any luck finding a mortgage provider who will lend to us for a shared ownership with a recently completed IVA (we did a one off IVA, so was only registered last August).
We have found a property worth £305,000. 40% share is £122,000. We have about 10% deposit.
The service charge and rent are about £400 for the remaining 60%. Our combined salary is between £65 to 70K per year. We have no debts.
We are struggling to find any mortgage brokers with a good understanding, which can help. Does anyone have any suggestions?
Thank you
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Comments
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You will struggle, the IVA stays on your credit file for 6 years, lenders tend to look at IVA less favourably than other forms of bad credit as it gives them that you cannot manage your finances.0
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