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geoffr
- Posts: 208
- Joined: Mon Aug 16, 2010 9:34 pm
- Location: United Kingdom
Hi all
Bit complex this one but im in an IVA with GT and its 3 yrs this Oct. My partner whom im engaged to is going through a divorce and it looks like the settlement she will receive wont be enough to purchase a property with. I was just thinking does anyone know IF she was to pay off my IVA now would i stand any chance of obtaining a small mortgage of say around 50k? Her settlement will be around 160k but that buys a tiny studio flat where we live in Brighton.
This is just me thinking of all options at the moment...
Appreciate your opinions
Cheers
Geoff
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gizmo78
- Posts: 88
- Joined: Thu Aug 02, 2012 6:29 pm
- Location:
Hi Geoff
From what I can remember you're iva will stay on your credit file for 6 years weather or not it's finished early.
Couple that with the stricter lending criteria the mortgage lenders are using I very much doubt you would be successful in getting one.
Sorry mate
IVA Completed
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Niobe
- Posts: 5169
- Joined: Tue Jul 03, 2012 9:56 am
- Location:
Hi Geoff.
You could have a word with our resident forum mortgage broker who has helped several of our posters to get a mortgage even though the iva has still been showing on their record
His name is Ryan and his details can be found under the ask a question link on the left hand side of the page.
Last edited by
Niobe on Tue Aug 14, 2012 9:27 pm, edited 1 time in total.
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vince666
- Posts: 337
- Joined: Sat Oct 22, 2011 11:09 am
- Location:
I doubt very much that you have any chance until all records of the IVA are removed from your credit files, which will be a minimum 6 years from the date the IVA was taken out.
Unfortunately not even Ryan can sort out a mortgage while the IVA is still showing.
Completion certificate received 31 March 2012.
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kazzafunk
- Posts: 4749
- Joined: Sat Mar 19, 2011 6:47 pm
- Location: United Kingdom
With a large deposit Ryan may be able to sort something as Niobe states he has managed it before.
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vince666
- Posts: 337
- Joined: Sat Oct 22, 2011 11:09 am
- Location:
I'm pretty sure he can't do it with the IVA still showing on the credit files - I've had many discussions with Ryan (he arranged a mortgage for me recently) and I'm sure that's what he told me, but I suppose it won't do any harm for Geoff to send Ryan an email anyway.
Last edited by
vince666 on Tue Aug 14, 2012 11:42 pm, edited 1 time in total.
Completion certificate received 31 March 2012.
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geoffr
- Posts: 208
- Joined: Mon Aug 16, 2010 9:34 pm
- Location: United Kingdom
Thanks for all your comments. Didnt think it very plausible.
Regards
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Niobe
- Posts: 5169
- Joined: Tue Jul 03, 2012 9:56 am
- Location:
As far as I am aware, Luluj still had the IVA showing on her record when Ryan managed to secure her a mortgage as she did a full and final.
Send him an email Geoff - he can only say no.
