How long after completion before I don't have to mention IVA on mortgage application forms ?

[Ryan]

Hi

Just41- yes the fisrtbuy scheme on new build houses would be an option for you with a 5% deposit.
A similar scheme is being brought out in January 2014 for 2nd hand homes also, we are still awaiting details on how this scheme will actually work

[sponge]

Claresilver I have my doubts about the 10 year record and my reason is that the statute of limitations only allows for 6 years form the last payment of any given debt to be held, That's an act of parliament. I find it hard to believe that they can hold records any longer without a change in legislation..

The exception to that in statute is mortgage debt with can be perused for up to 12 years

So for now I'm going to say that's a red herring and you close IP friend is worng!

[Foggy]

Sponge, I believe this limitation would apply to "public" records. Archived records might be different.

Banks hold records for 7 years after the cessation of any business relationship.

So there are exceptions.

[sponge]

nahhh....It's not archived record, it's archived public record. The point of statute, disolves the debt to the extent that it never existed, so it cannot be recoverd, at least that's what I thought the point was. Besides why 10 years, why not for all time that your record existed as an extra, or would that be an extra extra cost

double nahhhh red herring!

[Foggy]

I have neither the brain nor the will to look ... so will settle for the herring

[MelanieGiles]

IPs have to keep client records for 10 years, as do lawyers I think.