Mortgage and IVA

fergus.dunne

Hi All,

Not looking to get a Mortgage at the Moment but am just wondering what Peoples experience has been if done it with an IVA.

By the Time i am looking to get a Mortgage, I will been in for about at least a Year.

I am looking at a Joint Mortgage and my Earnings by then will be about 20K

My Partners will be about 16K and she has okay credit.

Just wondering if anyone has gone into a Mortgage with an IVA and what sort of situation I am in.

Can provide more Info if need be

Cheers in advance

fergus.dunne

Can Anyone help on this please

sarkin

Since the credit crunch it has been harder to get mortgage for people with an IVA, they normally ask that it has been conducted satifactorily for at least 3 years.

Before the credit crunch it was 6 months. you will need a deposit of at least 5% but closer to 10.

This is specialist broker knowledge, you will not get help on the hight st for deals like this. A lot of the lenders that did offer mortgage for peole with IVA have closed for business, but you will need to see a broker.

fergus.dunne

Cheers mate, thanks for the Advice

doelani

You will need to also check with your IP to see if you are allowed to get a mortgage. Do not do naything without them agreeing for you to do this as it may cause your IVA to fail.