Is it possible to get a mortgage if you've had an IVA?

[stillvicarinatutu]

I'm guessing it needs to have run its term if you can but is it possible to get a mortgage after you've had an Iva?

It is, but you will likely have to wAit 6 years following the IVA being granted, and therefore it's removal from your credit file.

So if Ian Iva runs 5 years does that mean 11 years to get a mortgage?

It takes 6 years for things to clear from your credit history, I believe commencing once whatever the debt is, is paid off.
It doesn't have to be completely gone from your credit history to apply for a mortgage, but the longer you wait the better. 4 years is what would most likely be recommended. Before then you would probably only be offered a very limited choice from a specialist mortgage provider and be paying high interest.
With each year that passes the more lenders will lend to you, at better rates. Your best chance would be to wait a few years, save as big a deposit as possible during that time, build up your credit rating, and then see a good mortgage broker.

You can't get a mortgage whilst in an IVA.

But when the IVA is over and you receive your completion certificate, (copy gets sent to you, your creditors and the Insolvency Register) the creditors will then update your debts within your credit file to be "satisfied" at this point you will be able to apply for a mortgage. Upon seeing a copy of your Completion Certificate, the fact you have been in an IVA will not affect the bank's decision to approve a mortgage. You do not need to wait for 6 years. After 6 years the debts should no longer be visible on your credit file. I used to work in Debt and Insolvency Management and very often had to email banks copies of completion certificates for this very purpose.

I started an IVA in 2010 (it completed early in 2013) which came off my credit file in 2016. I successfully applied for a credit card in late 2016 and applied for an got a mortgage in late 2017 and we bought this house last month. So it is possible.

I think although my IVA completed in 2013 my credit rating was still poor which would have hindered getting a mortgage.

Thanks all. I think my problem will be my age when the Iva finishes. I'll be in my 50s.