www.iva.co.uk

Completed iva successfully 2011 we applied for a mortgage with halifax last feb which was declined as we were told to wait till.the 6th yr from when we entered iva we have now done this. All defaults are cleared from credit file and all info reg iva gone however halifax still decline also mortgage broker doesnt think we will get a mortgage.
This s so frustrating as we entered into an iva blindly and regret it we shuld have and could have paid off ur debt just thought that way would be easier....how wrong. We have a 10% deposit and fees waiting both in employment of over combined income 80k please is there any hope of getting on the property ladder as our hard earned money going nowhere renting

Hi...we have a mortgage broker on the forum, Ryan. He has successfully achieved mortgages for a number of us with various circumstances, level of deposits and interest rates. He deals with the whole of the market...his details can be found on the left under "ask the experts" link......he will be very honest with you and provide you with some reassurance hopefully.

Hi, I hope Lulujs post has helped in directing you towards Ryan who has helped a few posters in the past.

this a cut n paste from a post I made yesterday and it sort of cuts to the chase

Well this is the tough choice at six years you CR will clear you of all trace of your IVA under statute law including defaults.

You'll have to check all three CR's and there will be some work to be done on your part to make sure it is clean

Once that has happened you can then apply for high street lending rates as I have seen on here with only 5%-10% deposit.

Slight little catch you maybe asked if you have entered into an agreement with your creditors. Some ask some don't

Simply put, say yes and you'll get turned down, say no and there's a good chance you'll get accepted (on the basis that all other condition were going to be a yes)

Naturally probably best to apply to those that were not a previous creditor.

There has been debate how you tick that box. The authour of this site Andy Davie has suggested brokers maybe able to get round this question all together.

You can get get a mortgage whilst in an IVA (cc or not your in it, for six years)but your looking at a very heavy deposit and above, high street interest rates.

But you may get stuck with this sub prime mortgage as it may tell other lenders on CR you've had a problem well after your IVA has long gone, lenders are very fickle even the wrong post code will affect the decision on getting a credit card and that's with a good credit rating.

There's a broker on here that's has obtained mortgages for those both in and out of IVA's Ryan but think real hard whilst in an IVA you don't get stuck with something you don't like later on.

The fiscal paradox is that after six years you'll see you credit rating shoot through roof on the axe of six years. There's good reason to if you've run your IVA true, then you get many green ticks on your CR and many of those, and with just a few searches equal many brownie points.

You can just google mortgage whilst in an IVA give you a feel of things.

For me I waited till my six years was done and I'm an advocate of not applying for any credit whilst in an IVA, which has been reflected by some of the other experts on this site, for good reason!

Thanks this all makes sense we do not want to ever use credit as we dont need it but really want a house .we are now 6 yrs down the line all records of iva are off credit file but what I want to know is when the solicitors bankcruptsy check how oes through will they find a record of our iva even rhough 6 yrs on as from what we are told is after the 6 yrs ate gone its all wiped clean. Our credit files are very good wirh no defaults on so if we just apply and dont mention the iva will it provess as normal.

Sorry for the grammer blinking predictive txt

tis like this your record of debt is held by the CR agencies for six years from your last payment. After this time statute of limitations kicks in "google it" and they are removed. All three CR agencies must be checked.

were halifax or it's affiliates a previous creditor, or you may have been declined for something far less importent

For example one poster said yes frmm a IVA finished 2002 and was declined by a high st lender another who finished their IVA only a year ago (but had cleaned thier file up) said no and got a principle mortagage offer from Nationwide with only a 5% deposit.

How you answer is down to you good, spend time looking at previous posts makes for some interetsing reading and gets a bit heated

know what you mean switching between work and this screen