IVA Mortgages Max 75 per cent LTV (Panic!)

[mikebdomain]

Adrian,

most sub prime lenders won’t now put in print what they will lend .

I find that a very strange comment coming from some who is qualified to CMap standard, you know as well as I do they HAVE to put in print what they will lend and not only that, they have to put in print the significant benefits and pitfalls – they would be in an awful lot of trouble if they didn’t. You should also know all about KFI’s and offer letters, the industry standard…

they should know what products exist and loan to value ratios (IPs’)

Why on earth or rather how on earth would an IP be aware of all the products available, it’s not their job or role or a requirement for them to know. They have to be aware of the regulations and requirements of running an IVA initially on behalf of the debtor and then when instructed on behalf of the creditor. When an agreement is drawn up they are only able to go on what is available today and what LTV’s are currently industry accepted based on average criteria for people with specific IVA circumstances across the range of the thousands of mortgage products that are available at the time. Even the most experienced IFA’s phone us for advice on what products are currently available for specific circumstances.


FREE ADVICE IS THE BEST ADVICE

LEYBRIDGE LIMITED
Mortgage Broker
Specialising in adverse credit.

see feedback and testimonials at:
http://www.leybridge.com/testimonial.php
Check out my blog at:
http://mikebdomain.blogs.iva.co.uk/
Please read our Initial Disclosure Document(IDD):
http://www.leybridge.com/Leybridge-IDD.pdf

[Adrian Ratcliffe]

Mike
I have done Cemap1, I started by buying into a mortgage company that went bust as soon as the FSA regulated the mortgage business.
I bought leads for adverse mortgages at over £100 per time from the likes of money supermarket etc, as you know this doesn't work and it is probably why you are on here so that you and your company don't have to pay to generate leads.
On my point about IP's my contact ay my IVA company came out with the comment of me going back to Northern Rock and asking them to remortgage me, so you think that is sound advice when I have an IVA ?
With respect I have been told there will be no more product guides for people with IVA's as from next week.
I also find you ODD

[Skippy]

I think a line ought to be drawn under this one now - it's getting personal. I've read other forums where personal comments seem to be the norm and I'd hate to see it happen on this forum.

Yesterday is history, tomorrow is a mystery, today is the present - a gift to make the most of.

View my blog at http://skippy13.blogs.iva.co.uk/

[aguise]

Totally agree skip

Ang

Please visit my blog at http://aguise.blogs.iva.co.uk/

[mikebdomain]

Adrian – LOL you find me odd, hmmmmmmmmm.

You went bust when mortgage regulation come out? No wonder you have such a cynical view of the industry…

No, I don’t personally think that an IP telling you to remortgage with NR sound advice, did they actually say that, or did they suggest you approach your current lender first before approaching a mortgage broker? Which is in fact sound advice irrespective of who your lender is.

Product guides for IVA’s from lenders?
I have been in the industry for an awful long time – even before FSA regulation and I have never actually seen a product guide for people in IVA’s produced by a lender. There has been, and still is, lenders criteria produced for brokers and intermediaries which give details regarding LTV’s allowances amongst other things – but, not for the general public.

CeMAP 1
So when you went into one about having done your CeMAP's and knowing about the industry, what you actually meant is that you have taken the CeFA and CeMAP Module 1 which is all about the introduction to financial services and regulation. Not CeMAPS 1, 2 and 3 which would have given you the knowledge you require, without experience to give basic advice. With a CeMAP 1 in our company you would not be deemed sufficiently competent to offer advice and would only deal with initial applicant contact.

Sorry, that you think I am odd, perhaps I am, but at least, I know what I am talking about!

Whoops - sorry missed out the bit about lead cost. Yes we buy leads (24%) but, not from similar sources as yours. We also produce leads from our own websites (43%). We also get an awful lot of referrals and repeat business (33%). I am on this site by invitation and I am NOT going to turn away business that comes from it… after all I don’t want to go bust!


FREE ADVICE IS THE BEST ADVICE

LEYBRIDGE LIMITED
Mortgage Broker
Specialising in adverse credit.

see feedback and testimonials at:
http://www.leybridge.com/testimonial.php
Check out my blog at:
http://mikebdomain.blogs.iva.co.uk/
Please read our Initial Disclosure Document(IDD):
http://www.leybridge.com/Leybridge-IDD.pdf

[Skippy]

[:D] Mike!

Yesterday is history, tomorrow is a mystery, today is the present - a gift to make the most of.

View my blog at http://skippy13.blogs.iva.co.uk/

[Soulgrowth]

Having had the honour of meeting Mike at the meeting on Monday in Bristol ... I can assure you that he is not ODD at all!! Well, at least not on the surface!! Indeed ... a very professional man, along with his charming business colleague who came along with him [:)]

Debbie

www.babynamings.co.uk

www.soulgrowth.co.uk

[Soulgrowth]

P.S
And I was impressed by Mike's moral and ethical business stance!

Debbie

www.babynamings.co.uk

www.soulgrowth.co.uk

[mikebdomain]

Well Soulgrowth, how kind.

I thought you were wonderful as well, and not at all odd [:D]. I do however, agree with every one else, this is not healthy, and I will no longer be posting on this particular thread. Sorry if anyone has been offended by any of my comments.

FREE ADVICE IS THE BEST ADVICE

LEYBRIDGE LIMITED
Mortgage Broker
Specialising in adverse credit.

see feedback and testimonials at:
http://www.leybridge.com/testimonial.php
Check out my blog at:
http://mikebdomain.blogs.iva.co.uk/
Please read our Initial Disclosure Document(IDD):
http://www.leybridge.com/Leybridge-IDD.pdf

[Adam Davies]

Hi
No more postings on this thread guys.Points have been covered and it's getting too technical now.I always welcome debate but without the personal remarks.
For info we have two IPs posting on this site and have also been lucky to have recently aquired a regular contribution from Mike regarding mortgages.It has been very useful info and will help many.Also Mike was invited on the forum by myself because of his unbiased expertise.
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp