will need to organise mortgage in near future

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karlw

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Post by karlw » Mon Apr 28, 2008 2:19 pm
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Just completing a full and final iva and will need to organise mortgage in near future. Can anyone help with info..i.e. Questions are -

Is this possible with iva record?
If so, what is likely ltv% ( Need 120k against £160k property - partner will fund 40k deposit )
What is likely interest rate?
Who should I approach ?

Any help would be much appreciated

Cheers

Karl
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Oliver

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Post by Oliver » Mon Apr 28, 2008 2:42 pm
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Hello

Yes absolutely a mortgage is possible if you have recently completed an IVA and I feel that a loan to value of 75% will also be obtainable. I would approach a specialist mortgage broker (there are at least 2 who post on this forum) and discuss your options and possible interest rates with them.
Best Regards
Oliver
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Emily

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Post by Emily » Mon Apr 28, 2008 4:39 pm
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With the prospect of neg eq on all house prices now are you so eager to get into 'debt'....the days when people are investing in their house as some 'Cash machine' wherby they can draw money out as a remortgage to fund their spending is becoming a past time....

I think you should keep you dep' for a while until the "grimm tale" in house price subsides. It is true that it is s buyers market, but you need to go in when the market drops no further.....as soon as the news report a rise in house price then it is safe to go back in. That time will come....
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