I think that mortgage lenders are missing a complete trick by isolating people in IVAs or who are shortly about to finish IVAs. They have no debt, are used to budgeting and probably entered into an IVA to actually protect their homes - so the thought that they might default on a future mortgage has to be pretty remote, especially as they now have a disposable income which demostrates affordability.
Melanie I couldn't agree more [:)] this is precisely the point I’m making. They are absolutely missing a trick and the sooner one of them realises and does something about it the better, as the others will probably follow suit after someone else.
The funny thing is, banks are absolutely terrified of lending to the 'wrong people' however, you cannot guarantee and are less likely to be able to predict the behaviour of a more traditional safe bet customer with a bit of debt against them.
We are used to budgeting and I think its pretty safe to say that none of us will be making the same mistake again, the same can’t be said for most other people who’ve not gone down the route of a degree in finance and budgeting, or as its more commonly known, an IVA [:D] [;)] [:D]
As you said kitkat, some people would rather spend money on the pleasures in life than make sure their mortgages, bills etc are paid. My stepdaughter is one of them - constantly cancelling DD's because she wants to buy this or that, or go somewhere. She always seems to come up smelling of roses though!
I've never been in mortgage arrears, that is one thing I've insisted on as I don't want to lose my home, but if I want to move at all once the IVA is finished, I doubt I would be able to get any sort of mortgage.
It's about time the financial institutions looked at the big picture, rather than tar everyone with the same brush.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Hi all,
is there any one out there that can put me in touch with a mortgage company or independent broker that will consider accepting me on a first time buyer mortgage?
I completed my full IVA in June 2011, it was then taken off my credit file after i chased it with the credit companies almost a year later.
I, and i am sure others are also struggling with it too, am struggling with finding the right contact to look at my case for a mortgage. I also have a 10% deposit.
Thanks in advance guys!!
IVA Completed June 2011!
Update is it has now been 6 years + 1 day since the start...it has all just been removed from my credit report! Soo Happy!
Hi,
I would be happy to help any of the posters on this thread with some mortgage advice.
We have helped many of the members of this forum obtain mortgages, so would be happy to look at anyone's situation.
Please get in touch
Ryan Radford
IVA Mortgage Expert
Zebra Money Centre
IVA Mortgage advice needed? Looking at Right to Buy and completed IVA still on credit files ?
