We have finished our IVA last year and last months our credit reports have been updated, all bad debts has dropped off and me and my OH rating is now excellent. We own a flat and are thinking to sell and buy a bigger property.
My questions is because our credit reports has now been updated (6 years last month), do I need to tell the lender that we were on IVA before? Would they be able to check if we don't?
Thank you!
You only need to answer what you are asked. Some lenders ask have you 'ever' been in an IVA whereas others ask have you been discharged within a set timescale. I suggest you consider using a specialist broker like Shaun Vickery from Select or Ryan who post here as they would know which lenders would be most suitable.
I agree with Michael - unless asked then don't tell them and also agree you should speak to either Shaun or Ryan for mortgage advice. Both come highly recommended.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Agree with the above -- answer the question according to how it is asked. It is a needless risk to lie and not worth the sleepless nights. A good broker can be worth his weight in gold !
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Thank you for all your input, much appreciated. I will contact Ryan soon. Do you have an email address Ryan?
How easy it is to get a bigger mortgage after IVA? We have a property to sell and there are some equity in the property for a deposit. Do you think we will be able to get into Help to buy scheme?
i feel really scared these days to do anything that involved getting our credit checked.
Hi,
Contact Ryan via the link above and I am sure he will be able to help.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
