www.iva.co.uk

Hi I finished an IVA and got my certificate 24th may 2017 after paying an extra year as I couldn’t remortgage, my question is I’m trying to purchase a house for £448k with a deposit of £68k and stamp duty set aside of £12,400, as I have since sold my house, my credit file is good and nothing about the IVA on my credit file or on the insolvency register, I’m trying to purchase a house that was bought by a building company that built retirement homes and purchased the house off the owner and they haven’t owned it for 6 months, is it possibale to get around this what with my IVA history, many thanks for the long winded question.

I would suggest a chat with Ryan and / or Shaun who are both whole of market brokers with experience in adverse credit. Their details can be found here:

memberlist.php?mode=team

They are in yellow towards the bottom of the list.

Foggy wrote:

I would suggest a chat with Ryan and / or Shaun who are both whole of market brokers with experience in adverse credit. Their details can be found here:

memberlist.php?mode=team

They are in yellow towards the bottom of the list.

Thanks Foggy

Be interested to know what Ryan and or Shaun's advice is ... to me the deposit seems low to the value of the property and your iva is still quite "fresh" so may cause an issue - hope not for your sake as I know how important it is to move on after your iva concludes.

Hi Steve,

If the IVA began over 6 years ago the bigger issue may be the fact the builders have owned it for less than 6 months, unless it was part exchanged? Also most Lenders take the 6 months from the date they appear as Owners of the property on the Land Registry.

Regards

Both issues can probably be managed, on the assumption that the builder bought the property in part-exchange. This all relates to Council of Mortgage Lenders (CML) guidelines and Anti-Money Laundering rules but it's possible that it can be navigated if everything is 'above board'.

I know it’s really none of my business but why would you want to borrow so much having been through debt problems ?