Blimey i havent been on here for ages! I finished my IVA in Jan 2010 but i finished it early and it will still be on my records until June 2013.
I am currently saving for a mortage and i have just checked my credit report which had a score of "good" does this mean with a good deposit the likelyhood of me getting a mortage is good?
Also looking at the debts have a status as "default" and a balance of "satisfied" should it still be like this? Will this affect my chances? If it isnt suppose to be like this what do i need to do to change it? I am sorry i know this question is asked a lot but it is so confusing and any help would be appreciated
Hi Sarah. Make sure all of the defaults are dated on or before the start of your IVA, they will then drop of when the 6 years is up.
The likelyhood of getting a mortgage while the IVA is there is slim. At the moment even those with an "Excellent" rating are having difficulty without at least a hefty deposit.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Hi Sarah
I'm currently in a IVA and decided to check mine to see whats going on and they gave me a 'good' score of just over 700 (due to the state of my bank account and phone contract I'm told). The score is irrelevant as its comes up as bankrupt when any one does the credit check (it did when Natwest tried to upgrade my account).
If Football was meant to have been played in the air then God would have put Grass in the Sky
OK Thanks guys i have actually opened up a save to buy account with Nationwide and there are some conditions but when you are ready and saved enough you are elidgable for a mortage (subject to the normal checks with just a 5% deposit so fingers crossed in a years time i should have enough, but for now i shall try and put it out of my mind as i keep looking at houses that i cant get yet
Fingers crossed that you can get a mortgage Sarah.
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
Sarah - you sound as if your doing all the right things - just save to Bu**ery - as tempting as it is avoid looking at houses till your ready.
Hopeful the mortgage situation would have changed to you benefit in the next couple of years and hopefully you will have a chance at a better mortgage rate.
Hi Sarah
I would be very suprised if you can get a mortgage 95% LTV with the IVA still on your file, however you never know how the mortgage market will be in a year or two
Regards
