www.iva.co.uk

hello, i have completed my iva. it is now 6 years since it began and I have been issued with a certificate of completion. it will be wiped off my credit report this month or so. can I begin making arrangements for a mortgage? thanks

You can, but I would suggest speaking to a whole of market broker with a proven track record in dealing with applications for those with an IVA in their past. An inexperienced broker could do more harm than good.

Hi Sanmi
Can you post how you get on with a mortgage and who you end up using.
I’m in the same situation but struggling to find anyone at the moment!
Thanks

There are two brokers with a proven track record who post here: Ryan and Shaun. Their contact details can be gleaned from their profile pages:

Ryan: memberlist.php?mode=viewprofile&u=18488
Shaun: memberlist.php?mode=viewprofile&u=22837

I can personally vouch for Ruan. His company has been really supportive and helpful over the last 12 years since our iva ended and we have entrusted in them ever since to get us the best deal when our fixed rates gave ended etc.

Hi guys, we have helped many members of this forum obtain mortgages after an IVA. It is certainly possible.

Hi Ryan,
I was wondering if I could just run a quick question by you please?
When you say ‘after’ an IVA, is it only possible after it’s been removed from your credit file after 6 years, or if you finish early is it possible to get it with a completion certificate but the IVA still on file?

I only ask as my sister has offered for my husband and I (and all four of our children!) to move in with her family for 2 years, what we would save from renting, the IVA company would obviously take, we would have paid all debts, fees and interest in maximum 6 months and have 18 months of big savings, however our Iva only started in 2018, so we would still have a year before it was removed from our files and obviously would need more time to build our score. So we’re thinking perhaps, two years with my sister to save a decent deposit, then perhaps renting again for two years (not touching said deposit) while we wait for it to be removed and to build score, then going for a mortgage, or could we go straight in without renting again?

Thanks in advance, I hope it makes sense and you don’t mind!

**apologies OP for gatecrashing, I jumped on the first post I saw about mortgages and I guess keeping all relevant info in one place may help other people **

Hi,

Give Ryan or Shaun a call via the links Foggy posted above and they will be able to give you more specific advice.

Hi Rlh1994,
Everybodies circumstances are different and i can predict the future on how lenders would view your position, but if you had a 30% deposit saved today, i could get you a mortggae as long as the IVA was Satified before completion.
Does that help?

That’s great for a bit of insight, thank you so much Ryan! We’ll definitely come back to this when we’re ready!

Some good general advice there ... gives a better understanding of what you need to save ..Good luck

You are very welcome.
Happy to help if you have any other questions along the way and also to help repair your credit file once you clear the IVA.