I have got an 'IVA'.

Posted on 22 January 2011 by mohamed karim rahal


I have got an 'IVA'. I am looking for mortgage lender.

Mohamed,

Following the recent Banking crisis there is very little appetite amongst Lenders for applications from people with a history of poor credit.

Whether or not you are able to obtain a mortgage will depend on how much deposit you are able to put down, it may need to be as much as 50% of the purchase price or property value, when the IVA was registered and if you have completed the terms of the arrangement? Even if you meet a Lender's basic criteria you will still need to pass their credit assessment and it is not unknown for people to fail this despite appearing to tick all the right boxes.

I recommend that you speak to an independent mortgage broker about your situation. Please have full details of the IVA and any other adverse credit records along with details of the mortgage your are looking for.

Peter

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