www.iva.co.uk

Hi we have now finished our IVA. Our last payment was last September but didn't get our closure certificate until January. We are also now of this insolvency list (think that's what it's called). We recently went to our mortgage supplier to ask to borrow extra money for renovations to our house. Of course the question came up have you been involved in a IVA in the last six years. We told the truth and unfortunately got a no. Since then I have run a credit check on checkmyfile and it says I have no IVA on my record in the last 6 years. Our actual IVA took 9 years from the date we started. So the question is if asked the question somewhere else about being in a IVA over the last 6 years I don't have to declare it?
Thanks

Hi Cookie,

If you are asked the question then you would have to answer truthfully as if you didn't and the Lender found out there could well be issues further down the line. We have access to High Street Lenders who will look to lend to you normally now though so feel free to contact us.

Regards

If it's not showing on the credit file then I don't have to claim it do I?. As it says the IVA stays on your record for 6 years from when you enter it. Ours was 9 years so 3 years over and the question was in the last 6 years. The credit file is what the lender will look at isn't it?
Is this correct? Thanks in advance for your help

Most Lenders will ask if you have been in an IVA in the last 6 years so you would have to say yes to that?

Regards

Most Lenders have the ability to see things a lot further back than 6 years - as I said there are Lenders willing to lend now so it's not something that you need to hide.

Regards

Yes it's not something I want to hide. It's just that if I don't have to claim it I would get a better deal with the bank than a specialist broker. It Was just them asking in the last 6 years,so guessing they only check that far back and if it's not showing on my credit file then didn't think I would have to claim it. Just thought it Was worth asking the question.
Thanks

Cookie,

We are a Specialist Broker but we would be looking to obtain a Mortgage for you with a High Street Lender - you wouldn't be looking at higher interest rates you would be looking at very good 'High Street' interest rates.

Regards

If you are asked the question you have to tell the truth.

We did tell the truth but was just asking the question as it doesn't show the IVA on my credit file. So if I was able to go straight to the bank wouldn't have to pay a broker to do it for me. Saving money
Thanks for your assistance

Using a Broker you'd probably save an awful lot of time...……..

Regards

The devil is in the detail:

Have you been in an IVA during the last 6 years ? YES

Have you entered into an IVA in the last 6 years? NO

If you answer incorrectly and get found out, the mortgage offer could be withdrawn (even after you have bought the house).