www.iva.co.uk

if you have a iva can you take a morgage?

Hi rebecca 3 and welcome to the forum

Yes - so long as you are able to fund a 10-15% deposit, which is not coming from your own money, and the morgage payments are no more than you are paying in rent.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

Hi
Just to add you will need permission and a reference from your IP stating that your IVA is upto date and you will need to have paid into your IVA for at least 6 months[usually]
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

It is possible that you can obtain a mortgage whilst still in an IVA, however you will need the express permission of your I.P. ]
Also you will find it hard to get a decent mortgage rate as most of the high st lenders will see it as a risk, I believe you can get a mortgage through a sub-prime lender.

Best Regards,
IVA Experts
http://www.iva-experts.co.uk/

Hi Rebecca,

Melanie makes a really good point on the deposit. There are lots of lenders who will positively consider applicants who are managing their IVA's well. They will not in the current mortgage market place offer the kind of high loan to value mortgages that some people use to get on (or back on) the housing ladder.

If you have access to a decent deposit your first call should probably be to your IP, and the second to a mortgage broker used to handling cases connected to debt solutions (of whom there are three who regularly post on this site).

Andrew Graveson
Independent Mortgage Broker & Bright Oak Debt Management
andrew@brightoak.co.uk
www.brightoak.co.uk