Will I have problems getting a mortgage now?

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Elena

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Post by Elena » Sat Sep 22, 2007 3:35 pm
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Hi There,
I have recently completed an iva, and would like to get a mortgage as we want to buy a house. Will I have lots of problems getting it now?
Thanking you in advance,

Elena
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MelanieGiles

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Post by MelanieGiles » Sat Sep 22, 2007 3:38 pm
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Hi Elena and welcome to the forum

There are still many lenders who will consider you for a mortgage, but choose a reputable broker to assist you with experience of searching the market, and one who is independent of any particular company or companies.

You will need to find a deposit of perhaps between 10% and 20%, which may be difficult if you have just concluded an IVA.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp
Last edited by MelanieGiles on Sat Sep 22, 2007 4:17 pm, edited 1 time in total.
Regards, Melanie Giles, Insolvency Practitioner
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mikebdomain

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Post by mikebdomain » Sat Sep 22, 2007 4:14 pm
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Hi Elena and welcome to the forum,

Your ability to obtain a mortgage will of course depend on your personal circumstances. Your completed IVA will not hinder you in anyway, apart from a slight loading on the rate.

To find the best mortgage product available to suit your circumstances, you will need to complete a fact find with a mortgage broker who will carry out a credit search and advise you accordingly.

FREE ADVICE IS THE BEST ADVICE

LEYBRIDGE LIMITED
Mortgage Broker
Specialising in adverse credit.

see feedback and testimonials at:
http://www.leybridge.com/testimonial.php
Check out my blog at:
http://mikebdomain.blogs.iva.co.uk/
Please read our Initial Disclosure Document(IDD):
http://www.leybridge.com/Leybridge-IDD.pdf
Last edited by mikebdomain on Sat Sep 22, 2007 4:19 pm, edited 1 time in total.
LEYBRIDGE LIMITED
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Directly Authorised Firm FSA No:313790
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Soulgrowth

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Post by Soulgrowth » Sat Sep 22, 2007 5:42 pm
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Elena

Just to let you know that I have just re-mortgaged with an IVA on my record without too much difficulty whatsover ... but like Melanie says, it may be difficult to buy a property whilst you are in an IVA as you will need a deposit and your income is likely all accounted for.

I have noticed that Barratt housing do a £99 deposit scheme ... but I expect that there is some link with a mortgage company who may not be favourable to people in IVAs ... has anyone had experience of this I wonder?

Debbie

www.babynamings.co.uk

www.soulgrowth.co.uk
Debbie
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