www.iva.co.uk

Hi,

I am currently almost one year into a new IVA and am wondering about my options after it is completed, when I want to buy a new house. I currently have a mortgage and my provider has said that I cannot re-mortgage or move house until 6 years after the IVA is completed, i.e. 10 years from now. I believe the IVA comes off my credit rating in 6 years but obviously it's up to lenders what further restrictions they apply.

What I'm wondering is whether anyone has a list or reference of which providers offer mortgages to people more quickly after an IVA is completed. I have no intention of changing my mortgage until the IVA is completed. Or failing a reference/list, whether other members could tell me when they have managed to get a mortgage after IVA completion. For example are there providers who will lend right afterwards, 2 years later, etc.

And what are the typical terms, e.g. presumably the deposit needs to be higher.

Thanks.

There have been several forum members who have managed to get a mortgage post IVA -- one at least from a high street lender at current rates. The lending criteria do vary from lender to lender, but it looks like the market might be relaxing a little.

We are lucky to have a whole of market broker on here, who can advise further. His contact details are in his profile and his forum name is Ryan.

Definately worth contacting Ryan - he has helped a few forum members (me included) and has been able to negotiate some good deals for people at different stages of their IVA.