IVA Discharge and applying for a mortgage

Brazy

I entered into my 6 IVA following my divorce in Dec 2018 and settled it 18 months early in June 2023. I am now trying to get my interest only mortgage that's joint with my ex husband into my name only as a repayment mortgage. I have an excellent credit score (985) with no markers on my report, and  have the affordability plus equity in the property, however nearly all the lenders criteria is that there has to be 6 years clear (a few are saying 3) AFTER the completion before they will consider me. That seems like if you enter into an IVA you need to be aware that it will actually affect your credit  availability for 12 or a minimum 9 years and not 6. Has anyone else come across this?

Grumpelstiltskin

An IVA is an insolvency just the same as bankruptcy and yes you will have problems getting a mortgage at a reasonable rate of interest.

Did you not research this before you entered an IVA?

Isthisforreal99

You would be better asking for this to be moved to the mortgages board as there will be people there who have experience but you will be unlikely to get a mortgage with a mainstream lender at a reasonable rate.

You can ignore your 'excellent' score which only highlights how nonsensical they are.

RAS

Ask over on the mortgage forum. There's a number of financial advisors who are generous with their knowledge. 

You are trying to achieve two things.

Remove your ex's name and take sole responsibility.
Pay off some of the capital going forward.

Maybe that one, not both are possible?