www.iva.co.uk

Hi.. We made our final payment for our IVA back in September last year so are in our last year of the six!

Due to a family bereavement we have hopefully been given the opportunity to buy a house from a family member (currently renting). My parents have offered to help with the deposit but there is also an possibility that we may be able to move into the house rent free until we manage to save the deposit ourselves. Would it be better to try for a mortgage now or take the rent free option and wait till the IVA is off our record?

Personally, I would be drawn to the rent free option until the credit files are clear as this would open up more lenders and better rates --- however, you should also balance this against the potential for rising interst rates generally, which might offset any gain !

I would strongly suggest a chat with Ryan and / or Shaun, who are both whole of market brokers with considerable experience ( and success) with adverse credit applications. There contact details can be gleaned from their profile pages here:

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

Brilliant, thanks. I've sent the company linked on Ryan's profile a message and hopefully hear back from them soon. It's a great opportunity to get onto the property ladder so want it all go well!

Totally agree with foggy, wait for it to clear a bit longer and take some professional advice in the meantime from Ryan and his team.

I had similar at end of our iva and we are now nearing 11 years in on our ownership of the house ...great opportunity that came from sad times.