after six years of starting the iva its done and dusted could i get a mortgage?
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I am in my sixth year since the start of my IVA and its finished and paid. I had a house with my ex partner who put me in the debt by the way grrrrr...anyway i walked away from the house and signed it over to her never missed any payments on the house,this was nearly 8 years ago since then i have been renting.Me and my new partner would like our own house she is a first time buyer so would i qualify as well as this would help with our deposit i earn ?37500 my partner ?16000 and have ?10,000 to put down.My defaults fall off my credit report in march so iam just testing the water to see if there is any light at the end of this long long tunnel.
Answers (1)
Hi Damieng71, not sure if you are still looking for an answer on this question?
It's the deposit that will make or break you with the mortgage lender. Some companies will ignore/overlook IVA's if fully settled and under a certain amount.
Some also look at when the IVA was registered rather then when it was settled, so you could be ok.
However they will all want a good 15% equity to even consider if, probably even more, 20% or 25%. so it's your deposit you need to look at.
Feel free to send through any questions to @moor_mortgages on twitter
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