www.iva.co.uk

I haven't posted very often but after reading some recent posts about the inability to get a mortgage after an IVA, I wanted to let you know that it is possible.

My IVA ended in 2010 and it fell off my credit file last month. I have lived in my council house for 20 years and wanted to exercise my right to buy. I found myself a mortgage broker and have had an agreement in principle, from a high street lender, on a 5 year fixed term rate, with no issues raised at all about my financial history. With the discount that you get with right to buy, my loan to value is 71%, so you don't necessarily need a 50% deposit. I have a secure, long term job and am on a decent wage but i just wanted to make the point that having had an IVA does not scupper your chances of getting a mortgage, nor do you necessarily need a massive deposit.

Our first application was refused... but that was due to my husband's credit rating, and he's never had an IVA! I therefore applied on my own and was accepted.

My advice would be to get yourself a good mortgage broker.

Hi and what great news! Do you mind saying who the lender is? I'm sure admin won't mind yu giving their name. Still, if I had to save a 30% deposit in my area it would be a little over £70,000 so still out of my reach!!!

That is good news! Thanks for sharing it. I'm pretty resigned to staying here for a couple of years longer than the IVA has finished, even though I'm not that keen to but it's necessary. But nice to know that maybe in 7-8 years time we might be able to move!

Thats really encouraging news - well done and thanks for sharing x

Hi BOL - the lender is Northern Rock, but I would also have had a yes from Nationwide had it not been for my husband.

That's good to know cindy.

very positive for others to read,well done!

That's great news. Very positive for the rest of us who hope to get a mortgage in future!! Did the applications ask the question about whether you had ever been insolvent?

The broker said that Nationwide had wanted to see my completion certificate and that Northern Rock were aware of my past circumstances, but I don't know if the question was directly asked on the application form. All I can say is that both lenders knew I'd been in an IVA and didn't see it as an issue.

So chuffed! At least i know now that if anything were to go wrong and they don't go ahead and lend, it won't be because of the IVA. Fingers crossed - finally at nearly 40 I will be debt free and a homeowner!

That's great news. My boyfriend and I want to buy together but we'll need a legal agreement for me to buy an equity share from him each month while he gets the mortgage on his own. It's fab to know that there is a chance we can re-mortgage together in a couple of years. He has private banking so only mortgages with Barclays and Nationwide as he gets preferential rates and doesn't have to use call centres! I'm over the moon - thank you for such amazing news xxx

That really is encouraging news for everyone on here in an IVA - light at the end of the tunnel!!!! I do know that my ex had either an IVA or a DMP many years ago (15/16) and he managed to get a mainstream mortgage with the Nationwide B/S x

A very positive post and will help a lot of posters. Certainly gives me hope x