Decision in principle

[AL28]

Hi all,
Would I be able to get a decision in principle while still on iva register. Drops off 25/9/2019. My Iva And defaults etc are all erased from my credit files so just waiting for this. I know you’ll say wait 8 days and then apply it’s just I’m getting squeaky bum syndrome about a new build I want to reserve and it might be gone!

[Foggy]

It might be possible -- depending on the prospective lender, but, having seen DIPs reversed on the full application, I would tread carefully.

Have a word with Ryan and / or Shaun, who are both whole of market brokers with experience in adverse credit applications. Their details can be gleaned from their profile pages here:

Ryan: memberlist.php?mode=viewprofile&u=18488
Shaun: memberlist.php?mode=viewprofile&u=22837

[Shaun Vickery]

A decision in principle would normally only be possible before the IVA is off of your credit file with a lender who would accept the IVA on it - which is likely to mean a higher rate. As Foggy says, a decision in principle is just that and isn't guaranteed ....so the question is probably only a technical one in any event. You really need to get yourself in a position that you are comfortable enough to pay a deposit....which would probably need more discussion to investigate the options and agree a path that is both practical and you are happy with. Any competent specialist mortgage adviser will be able to help you do do this. I'd certainly be very careful about just making random applications to lenders though.

[Ryan]

Hi,
You could easily get a decision in principle with a lender who will accept the IVA today, just make sure this is with a lender who only does a soft search, you can then re-apply on 26th to another company who will offer better rates, and nothing will have caused you an issue, but at least you get to reserve the plot!
Happy to help if you need