At that age I paid everything off on time - I think the only loan I had was for a car. Once that finished I managed to get another one on my own. That was the slippery slope as I do love my cars!!! Then I got an Access card, Visa card (as TSB insisted I had to have one as it was a cheque guarantee card as well) and the rest, as they say, is history!!
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
My first proper credit card that! The writing was on the wall but I couldn't see it - I just got credit after credit, paid it off, got into trouble, paid it off etc., etc.,
Never again!!
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
Yes I was in a unique position witha 50% deposit - however Ryan has helped others with lesser deposits and different sets of circumanstances.
Personally I would take the advice of a broker - they will be able to guide you into the best time to apply and what the likely rates will be.
I am hoping my interest rate will change in 2013 when the IVA has left my file completely - but until then I am quite content to pay a little more each month knowing I am in my own home !
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
Hi, I finished my IVA in January 2011 and we are going to start looking for a mortgage in March. I have spoken to two whole market brokers that both say they can get me a mortgage with 10% deposit. They have said that all they do is only approach mortgage lenders who are only interested in the last 6 years. They also said that as long as the credit file doesnt show any defaults or the IVA (which it shouldnt after 6 years, and I have thoroughly been checking my 3 credit files) then I will be fine. I was suprised because everyone had been telling me I would need 40 % deposit and when I actually started ringing round I found that it isnt always the case. Dont get me wrong, I doubt I will get the lowest interest rates but by the time I come to swap mortgages in a couple of years I most likely will be able to get a better rate then.
Have a word with Ryan who posts on here and can be found via the 'Ask a Question' link on the left hand side of the page. His advice will be free.
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
Both companies advice is free and there are no fees until the mortgage has been processed. God knows to be honest, we'll just have to wait and see what happens.
Let us know how you get on - we wish you well and the information may well be of use to other posters.
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
