www.iva.co.uk

My IVA finished in July 2012, awaiting for those completion letter. I'm going thru divorce and husband took the only car off me and struggles to go to work as it's 15 miles away. Will I be able to get a car on finance with a conduct letter from the company to say I'm no longer in IVA?

Hi, well done on IVA completion. Moneybarn and a few others who I'm sure other posters will be able to name can help when in or just come out of an IVA.

Not sure if you could go to a main dealer as the IVA shows on your credit file for 6 years from dates of its acceptance.

You can and I believe there's one called moneybarn who posts on here, but like all things in your position there maybe a price to pay for that. I've seen a few posts here hire one maybe as an interim measure
I assume you pay upfront so there intrested in your identity rather than how credit worthy maybe?

Your credit report is shot until year six has passed and your IVA and defaults have dropped off. When that moment has passed and say you have six years of current account with no overdraft and no searches bar insurance, you become a surprisingly good lending bet and you should find that 0% finance becomes within reach.

Sorry about your impending divorce seems a popular subject of late, strangely my girlfriend of 14 years, left me just as my IVA finished

lesley trust me lenders won't even lend you a pen to fill the form out with even a sniff of an IVA or a default these days.

I read on another forum it's true you can get a mortgage in an IVA but they'll require a min of a 50% deposit and then of course where does one get a 50% deposit for anything whilst in an IVA. And even then it has to be third parties money in trust to the third party or IP will demand the deposit as part of the IVA

As I found out month 60-72 there's nothing to do, nothing to repair but you will of course have some more cash in your pocket £580.00 a month in my case yeee haaa

That is simply not true Sponge. I work with a good lender who has managed to find car finance for people in and out of IVAs.

Where do you get the advice from that you continue to post on the forum as authoritive rhetoric?

Do you mean in general?

Yes

Mortgages are available depending on circumstances with deposits far less than 50k.......a good mortgaged broker like Ryan will hopefully be able to direct any forum member in the right direction and if circumstances permit will source a good mortgage. I know of ex IVA friends who have gained a mortgage with a 15% deposit.

My advice always speak to experts in the relevant field!

psstt you two - mr inexpert here, but don't tell anyone. I said LULUJ 50% not 50k it's probably far WORSE than that depending where you live

January 2011 - IVA Mortgage Lender update
IVA mortgage lender table IVA Status Max Lending
Current 50%
Satisfied 1 year 50%
Satisfied 2 years 60%
Satisfied 3 years 60%

or like this

Furthermore, sub-prime lenders demand substantially larger deposits than high street lenders and, since the financial crash in 2007, most sub-prime lenders require a minimum 50% deposit as standard for all mortgage applications.

can I have another star?

I believe that's when you've done 1000 posts sponge.

Hi

It would be good to have Ryans input on this subject

Regards

font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by MelanieGiles

That is simply not true Sponge. I work with a good lender who has managed to find car finance for people in and out of IVAs.

Where do you get the advice from that you continue to post on the forum as authoritive rhetoric?

with a price to pay over the odds %

We will all pay over the odds whilst in or just out of an IVA.

At least someone is willing to lend to those of us with less than perfect credit records.