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First Time Buyer with IVA on file

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Guest

06/01/2021 - 12:24 pm

Hi there,

I am looking to buy my first property towards the end of next year through help to buy with my partner.

I had to take out an IVA in 2017 & fortunately was able to end it with a full & final offer less than a year later (2018).

I received my completion certificate 2 weeks after & now 2 years later have saved a deposit & starting to build up my credit rating.My partner has a great rating & recently sold a property.

My question is - is there any lenders that will lend to us? Baring in mind my IVA will still be on my file?

Thank you so much in advance,

Chloe

Guest

06/01/2021 - 12:26 pm

Hi Chloe, thanks for getting in contact.

Credit wise this is likely to be possible however you may have an issue if you want to delay for a year as from 31st March 2021 the Help to Buy equity scheme will only be available to First Time Buyers which your partner won't be.

Guest

06/01/2021 - 12:27 pm

Hi David,
Thank you so much for your reply and putting my mind at ease.

Do you happen to know what similar things will be in place to help us younger generation get on the property ladder?

Fortunately for us, the deposit isn’t a problem. It’s finding a property and mortgage in London.

Guest

06/01/2021 - 12:28 pm

The Government did announce the intention of helping people with purchasing next year however they did suggest this would also just be for first time buyers I'm afraid.

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