Hey everyone, thought I would update on my mortgage application. It's been accepted and we have a formal Full offer! So happy right now.
Will give you a brief history of our iva so you know what position we are in. We finished a joint iva in January 2013, it was a 6 year one as we had to extend due to payments being reduced. We received our completion certificate in February, which was very quick.
We are buying a new property which is due for completion in December so needed an offer which would cover this long as most only last six months and we have a 10% deposit. Our mortgage has been offered by a high street bank and this is the surprising bit that actual bank was one of my creditors!
The interest rate is 4.6% which is higher than some companies out there but our mortgage broker has said to stick with it for now to know we are safe and definitely have an offer for the amont of time needed but then in August apply for another one with a lower interest rate but we know we can afford the payments on the first offer if we don't get anything cheaper so covered both ways. Apparently we need to have a offer for the whole period to keep solicitors happy even if we change it later on.
Sorry it's such a long rambling post!
Kelly that is fantastic news. There really is life after an IVA and I'm sure this will be positive for others. So pleased for you. Enjoy your debt free future in your new home.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
PJG Recovery have a free online advice channel at www.debtadvicetv.com. If you are ready to ask us for specific advice or help, then get in touch at www.pjgrecovery.com/contact-us.asp . I look forward to speaking to you.
Thankyou guys, hope thus helps some other people as I know how scared I was waiting for the full offer. We went through a mortgage broker and they have got the offer from Halifax bank.
Well done, you’ve set yourself free from your IVA shackles. As the Director Head of Experian says it won’t really matter, we make the tools that make the decision anyway! You are living posting proof of the way forward, I for one am very happy for you.
Kelly.23 just in case that's not clear to you The Director Head of Experian went on live national radio @6.45 last week, as I was driving home from work and basically tore up that mortgage form filling myth, contrary to the nonsense that's been posted on here by a few posters, it was a good day!
Just to update in the post today we received our written mortgage offer! Starting to believe it more now we have it in writing, spoke to the house builders yesterday and they said contracts should be ready in the next week, so excited to think by Christmas we should be in our own place, sorry to keep brining up about my mortgage, your probably getting bored of hearing it, but hopefully it helps someone still working through their iva.
Did the offer from Nationwide never materialise..or did you end up going via a broker to get the long offer up to December?
So pleased for you..Im hoping to be doing the same in a few months, so posting your experience is invaluable to people like me in a (hopefully) similar position x
When you reach the end of your rope..tie a knot in it and hang on!
