Mortgage 5 years after closure
Posted: Tue Feb 18, 2020 12:18 pm
Hi all, it's been a while! I hope everyone that remembers me are all doing well. Me and my husband had IVA's agreed in 2011 and had a variation agreed in 2014, we didn't get completion certificates until Feb 2016 due to PPI reclaims and an outstanding debt that was originally missed and had to be included. We've moved on with our lives thankfully and are now in a much better place.
At the time, we had a prime mortgage with Accord on interest only, since the IVA ended we changed to repayment and have stayed with Accord since whilst our credit files improved. The IVAs are no longer on our credit files and our reports are in good shape.
We have remortgaged onto a new deal a couple of times with Accord and not had any issues. Recently we wanted to obtain some additional lending to upgrade our kitchen as its really tired and obviously we had no funds for a few years whilst in the IVA.
We were honest with accord when applying for the additional funds that we were in an IVA from 2011 to 2014 but they have now come back to us to say that because we weren't 'discharged' (thats the term they keep using!) until 2016 it falls outside of their lending policy as we have to be 6 years post 'discharge' I keep telling them that you aren't discharged from an IVA, that we had a variation which was agreed in 2014 and weren't required to contribute further, we were just waiting for loose ends to be tied up essentially (PPI etc), so they are now asking for evidence of this.
We were with the lovely Melanie Giles, I have emailed her but not sure if she's still around as at the time I think she was giving it up.
I guess I'm clutching at straws here but I assumed that once the IVA fell off your file it would be easier, I didn't realised that not only is it on for 6 years but then following completion its a further 6 years before anyone will consider lending to you?
Can anyone advise?
At the time, we had a prime mortgage with Accord on interest only, since the IVA ended we changed to repayment and have stayed with Accord since whilst our credit files improved. The IVAs are no longer on our credit files and our reports are in good shape.
We have remortgaged onto a new deal a couple of times with Accord and not had any issues. Recently we wanted to obtain some additional lending to upgrade our kitchen as its really tired and obviously we had no funds for a few years whilst in the IVA.
We were honest with accord when applying for the additional funds that we were in an IVA from 2011 to 2014 but they have now come back to us to say that because we weren't 'discharged' (thats the term they keep using!) until 2016 it falls outside of their lending policy as we have to be 6 years post 'discharge' I keep telling them that you aren't discharged from an IVA, that we had a variation which was agreed in 2014 and weren't required to contribute further, we were just waiting for loose ends to be tied up essentially (PPI etc), so they are now asking for evidence of this.
We were with the lovely Melanie Giles, I have emailed her but not sure if she's still around as at the time I think she was giving it up.
I guess I'm clutching at straws here but I assumed that once the IVA fell off your file it would be easier, I didn't realised that not only is it on for 6 years but then following completion its a further 6 years before anyone will consider lending to you?
Can anyone advise?