Need to move can someone help please!!!

[Lula]

Hi in terms of the query with Shared Ownership an IVA Wouldnt prevent you from doing this however bit of info for you.
There is a waiting list for shared ownership property - you should register your details with the home buy agent for your region - go to http://www.housingcorp.gov.uk/server/show/nav.2128. You will find lots of info here.
You will also require the depoist and need to show proof of £3000 in savings for stamp duty/legal costs etc.

lula

lulablog.blogs.iva.co.uk

[mikebdomain]

Melanie & Andrew,

All I will say on this is; there are a number of products that in certain circumstance are available to us. You will have to remember that Leybridge Limited is a broker / packager and as such we have a number of exclusive products that are not available to other mortgage and insurance brokers. Our sourcing system, for example, holds over 16,000 products

For the sake of community spirit, we have been known to get them through;

Abbey
Leeds & Holbeck
Cheshire (normally requires annulment or settlement of IVA)

But, it’s obviously on a case by case basis and down to the underwriters where they have discretion.

And of course lulu is correct the applicant will still need to fund the other costs such as fees and stamp duty.


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

[johnz]

Hey Andrew[:D] Am curious now about the software you use. Am wondering if I've tested your software - lol[:D][:D]

Johnz

[Andrew Graveson]

Hi Mike,
To be fair through our affiliations and associations we all have access to exclusive products. Do you agree that none of these lenders appear to have an appropriate product right now for a 100% loan on a shared ownership property while in an IVA? Would any underwriter have discretion to make this decision at this time?

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

[Andrew Graveson]

Hi johnz,
Most of us mortgage brokers use sourcing software of one variety or another. Which have you tested?

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

[MelanieGiles]

Hi Mike

The companies you have quoted - would they welcome an approach directly from one of my clients, or does it need to be done via a broker? And if these deals are available for new purchases, can they also be used for remortgages as well?

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

[Rainbow]

Hi Adam, Can I just ask do you have any children or health needs or are you elderly? In which case you would be entitled to Homelessness assistance - If you still wanted to go down the Shared Ownership route you could get the Council to nominate you instead of housing you through the Homeless Act that way you would get higher priority for Shared Ownership.
Rainbow

Every Cloud has a silver lining. At the end of the Rainbow is a Pot of Gold - Or Hope!

[sjw]

hi im in a shared ownership property 50% mortgage and 50% housing assiciation we got mortgage with leeds building society 100% mortgage so no deposit though i am not in an iva we did have adverse credit rating the housing ass just require that you can show taht you can afford the payments mortgage + rent. hope this helps

[Andrew Graveson]

Hi sjw,
That's great that you got the mortgage, and a sensible decision for all as well if it's an affordable arrangement for you.
I think that this is the sort of area where the market has moved in recent weeks and I think the option that you benefitted from may not be available to others in the near future.
It's a shame.

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

[sjw]

hopfuly they will be as luckly if its the right dicision for them, i only moved into my shared ownership house a few months ago so its worth them trying. x

[mikebdomain]

Melanie

Sorry no, we have only had a success with purchases so far. The ones we have completed took a lot of work by our processors working directly with the lenders underwriters.

Recently we tried for a shared ownership remortgage but were unable to place the applicant whilst they were still in the IVA. Although my advisors tell me that if the applicant was to purchase the rest of the shared ownerships and were offering a F&F they could get a product.


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

[JulianSampson]

I like the idea of community spirit! Of the adverse Lenders around we act for Preferred on their Shared Ownership schemes and their product (I bow down to those who actually for the sourcing!) are geared to this situation. I doubt they do 100% (does anybody in this climate?). Preferred are not direct with these though Melanie so you would have to run through Andrew/Mike etc


Julian Sampson
Solicitor
Wright & Wright LLP
www.wrightandwright.com
See my article in Clean Slate magazine

[MelanieGiles]

Boys

On what basis would Preferred lend to someone in an IVA with shared ownership do you feel?

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

[JulianSampson]

out of my depth! over to those who can.....

Julian Sampson
Solicitor
Wright & Wright LLP
www.wrightandwright.com
See my article in Clean Slate magazine

[Andrew Graveson]

From Preferred's current product guide for shared ownership:

"IVA/Trust Deed (Scotland) not accepted if within the last six years"



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