www.iva.co.uk

Just wondering how easy it is to get a mortgage after my IVA has finished, I mean after the 5 years and the extra 1 years, can we still go to places like Northern Rock? do I have to tell them ive been in an IVA?

On the road to recovery IVA accepted
59months to go

Once your IVA has dropped off your credit reference file you should be ok to shop around for a mortgage from the high street lenders.

I dont think you need to declare you ever had a IVA, as that is one of the advantages over bankruptcy where you would almost certainly have too.

Thanks,that's just the answer i was looking for, hope your right! [:)]

On the road to recovery IVA accepted
59months to go

You can generally get a mortgage whilst you are in an IVA, after the IVA completes or after the 6 years when it drops off your credit file. Ivoriva is right that you will struggle to get a high street mortgage whilst in an IVA. You will only have to declare the fact that you have been in an IVA (after the 6 year period) if you are expressly asked on the application form which you often are. Because mortgages are secured loans the chances of being accepted for one are very good despite having bad credit or even previously being insolvent.

Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp

Thanks for that, I wont be getting a mortgage until my IVA has finished, I'd like to but it's just not possible and i dont want to drag my partner into my debts, it's just best if we wait, i'm in no hurry has i'm happily living with my parents and he is still at home, Thanks everyone!!

On the road to recovery IVA accepted
59months to go

Well rest assured that once you are ready the fact that you have been in an IVA shouldn't hinder your mortgage chances too greatly.

Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp

That's what the company I used told me but I was still unsure, thought i'd ask people like myself because companies can tell you anything

On the road to recovery IVA accepted
59months to go

Im just about to start my IVA, and in 6 years I will be looking to do exactly the same thing with my wife. It will be a happy day indeed, when I can finally take some joint responsility of our finances and future!

As TC was saying, they'll always be mortgage lenders even with your IVA on the credit file - and apparently they arent that much more expensive. And they arent the same as getting unsecured credit, a lot more factors than your credit file/history will influence what you can obtain and at what rates.

It will be a very happy day, I couldnt wait for this payday to come and for the first payment to go out, I cant wait and i know it a long time but one of my loans had 5 years left anyway and i think i will fly by,

Good luck with your IVA

On the road to recovery IVA accepted
59months to go

I prepaid my first payment, so the next one will be my second already! Im just awaiting the paperwork and details of when and how to pay the next installment, and like you, I cant wait either!

Hope your IVA goes smoothly too...

Have you not got a standing order set up for the set amount for a set date? I get paid on the 15th and the payment goes out on the 15th so when i wake up the amount in my bank is mine

Sorry just re read you post, you prepaid it and waiting for the paperwork!!

On the road to recovery IVA accepted
59months to go