www.iva.co.uk

I completed my Iva 2 years early I finished it 3 months ago and have now been left some money which i would like to put towards a deposit.Is it possible to obtain a mortgage and where from and will the iva stay on my credit file for another 3 years even though I paid it off early?

Hi and well done for finishing your IVA.

I am living example of a possible mortgage after completion of an IVA early. We used a whole of the market mortgage broker who gained us a good deal, albeit at a higher than normal interest rate while the IVA stays on our record for the 6 year period !

I am more than happy to share his details with you if you want them as he has also helped others on the forum achieve mortgages following IVA's - let me know and I can arrange for admin to send me to your email address.

Hi
That would be brilliant as I now have a large deposit which I want to put to some use
Thanks

I am living example of a possible mortgage after completion of an IVA early. We used a whole of the market mortgage broker who gained us a good deal, albeit at a higher than normal interest rate while the IVA stays on our record for the 6 year period !

I am more than happy to share his details with you if you want them as he has also helped others on the forum achieve mortgages following IVA's - let me know and I can arrange for admin to send me to your email address.
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Hi Shelly,

I've sent your email address to Luluj, she'll be in touch soon.

Whats the lowest deposit someone has used to obtain a post IVA mortgage? May be handy to have an idea.

Paul

I know Luluj put down 50% but not sure about others.

Just some people may get the idea that a mortgage is available but realistically not many will have a 50% deposit!! Although in this case I know Shelley has been left some money.

Paul

The amount of deposit you can offer is always going to be a key factor in whether or not you can get a mortgage and the type of deal you are offered. There are mortgage deals around for people who have recently completed IVAs but they are not going to be the sharpest on the high street unfortunately.

Whats a doable deposit for someone recently finished an IVA? Are we still talking 50% or is this coming down? I know the interest rate will be higher.

Paul

I spoke to a mortgage broker recently who told me that they are placing post IVA mortgages with a 25-30% deposit as long as the IVA had been completed for 4 years. I did a lump sum IVA 3 years ago, so still have a year to wait until I can consider this. Not that ive got a 25-30% deposit at the moment anyway.

Luluj if you dont mind me asking what level of interest rate are you paying with a 50% deposit?

I got a mortgage with a 29% deposit, paying 4.24% fixed for 5 years.

Hi we're paying 8% .... Which yes is alot but actually we are just content to be in our own home ! In another year we will get a better deal hopefully !!

I was thinking I'd need around a 25% deposit, if they're after 50% then it looks like I'll be saving up for a good few years to come, or I'll have to try and find a better job next year which is easier said than done at the moment.