Need to move can someone help please!!!

[adam090376]

Hi All
Our landlord has just told us that he is selling the house we rent from him and so we have to move. Problem is of course I am in an IVA so the problems of renting and credit checks start again.
Could Leybridge or another of the mortgage experts on here get in touch with me so we could maybe look at a mortgage??
Any help would be great.
Thanks

[Andrew Graveson]

Hi Adam,
I'm sure any of the mortgage brokers posting here would be pleased to speak to you. Contact details are typically stored in the profile sections.

Andrew Graveson
Independent Mortgage Broker & Bright Oak Debt Management
andrew@brightoak.co.uk
www.brightoak.co.uk

[mikebdomain]

Hi adam Please feel free to give us a ring as Andrew has previously stated the telephone number is in our profile

FREE ADVICE IS THE BEST ADVICE

LEYBRIDGE LIMITED
Mortgage Broker
Specialising in adverse credit.

Firm FSA No:313790
Personal FSA No:MJB01557

see feedback and testimonials at:
http://www.leybridge.com/testimonial.php
Check out my blog at:
http://mikebdomain.blogs.iva.co.uk/
Please read our Initial Disclosure Document(IDD):
http://www.leybridge.com/Leybridge-IDD.pdf

[mikebdomain]

Adam - do not forget, as you are in a current IVA you will need the permission of your IP / Creditors to obtain a mortgage and you will need friends or family to raise the deposit of between 5 to 15% depending on your circumstances.

FREE ADVICE IS THE BEST ADVICE

LEYBRIDGE LIMITED
Mortgage Broker
Specialising in adverse credit.

Firm FSA No:313790
Personal FSA No:MJB01557

see feedback and testimonials at:
http://www.leybridge.com/testimonial.php
Check out my blog at:
http://mikebdomain.blogs.iva.co.uk/
Please read our Initial Disclosure Document(IDD):
http://www.leybridge.com/Leybridge-IDD.pdf

[iva experts]

Hi Adam,

You will need to discuss this with your I.P as you will need their permission to apply and gain a mortgage. If you can get a rate which does not affect your IVA payment then this will make your case better, however as you are in an IVA your chances of getting the best rate on the market will be slim as a high street lender will see you as a risk.

How will you fund the deposit?

Best Regards,
IVA Experts
http://www.iva-experts.co.uk/

[adam090376]

Hi All
Thank you for your responses, I have another question for you regading shared ownwership housing.
Can we qualify for these schemes in in IVA??
If so and the mortgage is currently cheaper than our current rent do we still need to find the 5-15% deposit?
Really starting to get in a bit of a panic now as we could find ourselves homeless soon and the thought of having to pay depoists, 4-6 weeks of rent in advance when I am in an IVA is starting to get me down.
Hope you can answer my questions?
Regards
Ad

[Andrew Graveson]

Hi Adam,
I see no reason as to why an IVA would disqualify you from a scheme necessarily if you would otherwise qualify. You will however require a deposit - the need for a deposit relates to the security that the mortgage lender needs to hold on the property rather than issues surrounding affordability.

Andrew Graveson
Independent Mortgage Broker & Bright Oak Debt Management
andrew@brightoak.co.uk
www.brightoak.co.uk

[mikebdomain]

Hi Adam you will need to check with the shared ownership partner whether they would allow or accept you whilst you were in an IVA.

There are lenders that have products that will not require a deposit for shared ownership schemes, it does depend on what scheme you are going to be using, (Private or social housing)and whether they will accept the lenders that supply those products.

FREE ADVICE IS THE BEST ADVICE

LEYBRIDGE LIMITED
Mortgage Broker
Specialising in adverse credit.

Firm FSA No:313790
Personal FSA No:MJB01557

see feedback and testimonials at:
http://www.leybridge.com/testimonial.php
Check out my blog at:
http://mikebdomain.blogs.iva.co.uk/
Please read our Initial Disclosure Document(IDD):
http://www.leybridge.com/Leybridge-IDD.pdf

[Andrew Graveson]

Hi Mike,
Which lenders are offering a zero deposit mortgage for a shared ownership purchase while in an IVA?

Andrew Graveson
Independent Mortgage Broker & Bright Oak Debt Management
andrew@brightoak.co.uk
www.brightoak.co.uk

[mikebdomain]

Hi Andrew

LOL - Your independent, look it up in your sourcing software.


FREE ADVICE IS THE BEST ADVICE

LEYBRIDGE LIMITED
Mortgage Broker
Specialising in adverse credit.

Firm FSA No:313790
Personal FSA No:MJB01557

see feedback and testimonials at:
http://www.leybridge.com/testimonial.php
Check out my blog at:
http://mikebdomain.blogs.iva.co.uk/
Please read our Initial Disclosure Document(IDD):
http://www.leybridge.com/Leybridge-IDD.pdf

[adam090376]

Hi All
Thanks again for your advice and knowledge.
I have spoken to my IP firm and they have said that if I am going to rent another property and have to pay advance rents etc then they will consider a payment break to allow me to do this so hopefully if we cant mortgage then we can rent somewhere. Just a quick question on renting. Will there be problems with credit checks ETC??

[mikebdomain]

Hi Adam that's great news. I understand that some landlords will credit check, there are people that have been through this already, so someone with a bit more knowledge in this area may be able to help more.

FREE ADVICE IS THE BEST ADVICE

LEYBRIDGE LIMITED
Mortgage Broker
Specialising in adverse credit.

Firm FSA No:313790
Personal FSA No:MJB01557

see feedback and testimonials at:
http://www.leybridge.com/testimonial.php
Check out my blog at:
http://mikebdomain.blogs.iva.co.uk/
Please read our Initial Disclosure Document(IDD):
http://www.leybridge.com/Leybridge-IDD.pdf

[Sadsack]

Hi Adam

If you are going through an Estate Agent, then yes you are subject to credit checks and you may be refused on the basis that you are in an IVA. If you are open and honest with the agents from the start, I would think that they would (some of them at any rate) be sympathetic to your predicament, although they perhaps will ask for more deposit - maybe 3 months in advance. Private landlords don't always do a credit check, although there are companies on the internet who offer this service to landlords at a cost of course.

My advice at this point, is to be honest with everyone you are dealing with. I am BR, found a private landlord with a property which is ideal for me and before I even went to look at the property I told him I was BR and he was grateful for my honesty.

Good luck

Sue

Ho Hum! Think I'll bang my drum!

Read My Blog
http://sadsack.blogs.iva.co.uk/

[MelanieGiles]

In the spirit of a community forum, I thought Mike's response to Andrew was a little ungentlemanly!!! You don't hear Catallus and I, or any other of the IP experts reluctant to share industry knowledge.

Come on boys! Let's help each other please. And Mike could you let me know of the name of any lenders who could offer such a product, as I have at least half a dozen client who would be interested.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

[Andrew Graveson]

Per Mike's suggestion I just had a look at my sourcing software and couldn't find anything.

Mind you there were only 7752 different mortgage products available from 97 different lenders.

Come on Mike, spill the beans brother.......

Andrew Graveson
Independent Mortgage Broker & Bright Oak Debt Management
andrew@brightoak.co.uk
www.brightoak.co.uk