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Mortgage Broker recommendation - Settled IVA
MC64
Posts: 6 Forumite
Can anyone recommend a broker that deals with adverse credit? I found one (Haysto) but feel like they’ve been wasting my time.
My IVA was settled 2 years ago. Is it a general rule that only a 20% deposit will be accepted, with an extortionately high interest rate? I was quoted £1950 a month and £56k deposit for a £280k property.
My IVA was settled 2 years ago. Is it a general rule that only a 20% deposit will be accepted, with an extortionately high interest rate? I was quoted £1950 a month and £56k deposit for a £280k property.
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Comments
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There are probably only half a dozen lenders on the market that might consider this. Have you had a formal offer? Or have you not applied yet?
If the former you are fortunate
If the later you should be expecting rates in the 8.50 to 9.50% range in the current market.
Unless a mistake has been made (highly unlikely) - another Broker is not going to find a wildly less expensive lender.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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.1 -
Appreciate that. Crazy times though. After that 5 year fixed term, the mortgage would be half cleared! No house for me anytime soon.Such a shame though… I have approximately £30k saved and budgeted £1500(ish) a month and I can’t even come close to getting on the property ladder because of my past.0
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Haysto were fantastic with us, would highly recommend you stick with them.0
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Once you have been discharged from the IVA for 3 years your options open up massively.
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.2
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