a good starting point is to speak to Ryan who is an expert on the forum. Ryan is able to secure mortgages for people who have been in our situations. Depending on your own circumstances Ryan will be ok to let you know what your options are.
Ryan's details can be found on the left hand side under ask the expert - he comes highly recommended and has helped several forum members over the last two years.
Last edited by luluj on Mon Feb 25, 2013 5:44 pm, edited 1 time in total.
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
It may be advisable to check to see if you've been removed from the Insolvency register also. The record of the IVA will stay on your credit file for a total period of 6 years, however you can add a note to state that it's been completed if you forward a copy of your completion certificate to all 3 credit reference agencies. Whilst you're checking, make sure that the default dates on your credit files are also correct as these may cause you problems too.
There is a common mis-conception that as soon as your IVA disappears from your credit file (ie. after 6 years) then it ceases to be relevant to a mortgage lender. As part of your application they will ask if you have ever made arrangements with creditors. Recording a 'Notice of Correction' as suggested above has little impact because lenders tend to ignore these and, in any event, it's often a computer which makes the decision in the current climate! Do make sure as suggested that any defaults are dated on or before the date of the IVA.
It would be useful to know when your IVA was registered as, in spite of my comments above, the 6 year period is sometimes seen by lenders as a line in the sand. What I am saying is that lenders may chose to accept the previous IVA but they won't ignore it entirely. It would also be useful to know what purchase price you are looking at.
Specialist Mortgage Advisers. Highly Commended at the British Mortgage Awards.
Hi,
We finished our iva January this year and have been offered a mortgage in principal from nationwide (went to them directly) and through a mortgage broker who used Santander , although i have been told by another mortgage broker that the first broker must have lied on our application to get one from santander as they never accept ex iva, not sure who is telling the truth but i hope the nationwide one helps you in your search.
Thank you all for your advice but I have been lucky enough for my father to offer going for a morgage with my partner so hopefully this works out and I will cover payments, f&f was accepted a week today, 2yrs 10 months early so I am very happy
