Hi, I am 19 months since my last IVA payment. Should receive certificate in next 10 days.

[Ryan.52]

Hi, I am 19 months since my last IVA payment and I have today been informed that my IVA has finally been closed and I should receive my closure certificate in the next 10 days. I would like to buy my own place next year but am wondering what my chances are of getting a mortgage. Am I likely to be able to get one with just a 5% deposit? Should I mention that I had an IVA in the past as it will now be off my credit file as nearly 8 years have passed since it started. I currently have a credit rating of 1/5 but can now begin to improve this score. Thanks for your help and advice.

[Adam Davies]

Hi and welcome

The IVA should be off your credit record but until you receive your completion certificate it will still be on the insolvency register.

A mortgage may be possible, my advice is to use a whole if market mortgage broker

Good luck

Regards

[Hunter1]

You will have to disclose if you had an IVA in the past on any mortgage application anyway regardless whether it shows up on a search.

Andy's advice to go to a whole of market broker is correct as they will be able to advise who may consider lending to you.