how much of a bad deal due to my history

[zonta1]

I completed an IVA in November 2007. As you can imagine it was a huge relief and I have now been able to start saving money for my own personal use.

I have since looked at the possibility of purchasing a house. My father has recently come into some money and is prepared to invest £45,000 into a property for me.

We would have a seperate contract outlining the terms and I would then use the £45,000 as a deposit.

I would like to buy a house at around the £130k - £140k bracket. I am 29, earn £27,000 pa but obviously have an IVA on my credit file.

In this situation are banks likely to me willing to lend me the money and if so how much of a bad deal will I get due to my history?

I would be grateful for any advice or input

Thanks

[Skippy]

You may find that you need to go to a mortgage broker rather than one of the high street banks or building societies. Andrew Graveson from Brightoak comes highly recommended and you can find his contact details on the Experts page.

[jaspersgirl2]

Hi Zonta1...well done on completing your IVA. Well I'm not an expert ..sorry but the IVA will effect your credit up to 6yrs after IVA started I think...then you should be able to get as good a deal a anyone else I would hope..seeing as were all gonna be in that position one day...and seeing as you've got a healthy deposit that is a good thing nowadays.

I was looking into a mortgage with my partner for about the same amount and it was about £1050 per month. Only trouble was we couldn't raise the deposit if I cleared my IVA.

Anyway good luck.

Jasp x

[Viki.W]

Hey zonta, congratulations on completing your IVA. Did you go the full five years? If you did, it will drop off your file this November so it might be easier for you to get a mortgage if you wait til then. Viki X