Hi all, quick question about buying a new house when in an IVA.
Is it possible?
My IVA has a equity release in year 4 and I'm only coming up to the end of year one, but I really need to get out of my flat and into a house.... Ideally I would be looking for a property of the same value if at all possible.
Any info or experiences welcomed.
Approved 3rd June 2009 first payment made on the day.
Offer made and settled - happy days
76.5k debt creditors:- Northern Rock, MBNA, Barclaycard, LloydsTSB and Capital One
You can try, but bear in mind that your credit rating will be shot whilst you are in an IVA.
You could try to get your mortgage swapped over to a new property if if the prices were the same.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
I spoke to my mortgage company for general advice and our mortgage is portable. Basically you would have to get your case underwritten again and your income/expenditure would be checked but if you had maintained a spotless mortgage history and can prove your income is sufficient maybe your mortgage company will assist. Not all mortgages are portable though so you are best to check first
Debt free by 2015 xx
Wants to thank this great forum for the help so far
