IVA & Mortgages

A question about : IVA & Mortgages

I started my IVA in September 2007 and it was completed in 2012, there was nothing on my credit file and just wasn't sure but we went to a local broker who was dubious but we were approved and have been in our new house now for 2 weeks and I finally have my name on the mortgage.
Just thought I would post to say it is possible and can be done so don't give up hope.

Best answers:

• Thanks for sharing that. Was it a high street lender? A good interest rate? Did you have a large deposit?
• Congratulations on your new home Jemma1984
  I also got a mortgage last year shortly after my IVA had dropped off my credit files. I approached a local building society direct with a 15% deposit and got a 3 year fix at 3.29% (I was totally honest about my IVA)
  I hope you dont mind me chipping in with my own experience but this is exactly the sort of thread that I was searching for when I feared I would never be able to get a mortgage again.....yes there is definitely hope
• Of course I don't mind anyone chipping in, as said it is a great thread to give others hope. Every place I searched said I would have to wait up to 4 years from when I finished it which we couldn't understand because my score was in the 900's and we gave up hope.
  We went to a local broker and was totally honest and he said we found one but interest was really high because of the 'risk' and we said we wouldn't want to pay that much as it was more than we was paying for less a mortgage (mortgage in husbands sole name). We asked him to search anyway because any effect on my credit rating would be gone by the time we would would look at moving again.
  It is with Kensington and we had a 25k deposit on a 150k house so a fair chunk which kept the interest rates lower at 4.74% for 2 years.
  But they had approved us for a bigger mortgage and less deposit but the house had too many problems so we pulled out.
• I'd just like to add.....not only is it possible to obtain a mortgage after an IVA, it is also equally possible to do so following Bankruptcy as well.
  The secret seems to be, use a whole-of-market broker, and get a hefty deposit.
• Thats good to know Alistairq too, its good to see recent positivity, hopefully it will give hope to others looking to take this route.