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jimmys
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If you are applying for a Mortgate post IVA how would the lender know that you have been in an IVA? Can they check historic records?
This is assuming its over the 6 years and all your credit agency files are cleaned up.
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IVANotOverYet
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font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by jimmys
If you are applying for a Mortgate post IVA how would the lender know that you have been in an IVA? Can they check historic records?
This is assuming its over the 6 years and all your credit agency files are cleaned up.
Whether or not they can check beyond six years' past is one thing, but they may well ask you if you have been in an IVA or declared bankrupt - and to not declare it if asked would be fraud.
IVA Completed!
Final payment made November 2011.
CoC received 12/10/12.
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jimmys
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Thanks IVANotOVerYet........of course if they ask then telling them will make it known.
Can anyone out there give a definative answer for ways it can be traced beyond the credit agencies or declaring it.
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Niobe
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Some banks keep their own records for longer than six years.
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jimmys
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That's a good point, I wonder if they can check with each other?
Heres the situation, I am over 6 years, completion certificate is due any day now, credit histories are nearly clean (just the IVA which will come off once I have certificate and one default that is incorectly dated but only be a few weeks so will fall off shortly)and we have about 15% deposit so were keen to buy while the market is low.
I've looked at some application forms and it seems to vary between companies whether they ask if 1-you have ever had an iva, 2- currently have one, or 3- dont ask at all.
If they only ask 2 or 3 and the company wasnt one part of my IVA I can see no reason why I couldnt get a normal mortgage with standard deposit rather than mess around with a specialist (i.e. expensive!) mortgage company.
If I am wrong please say as I would rather find out now that apply and get a turndown on my otherwise clean credit record!
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sponge
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I also have a squeaky clean CR at 61/2 years and there has been some debate as to the morales of your answer
My view is why blight yourself and if they don't ask don't say .
Naturally choose a bank that you have no connection with. Statute is slightly different with previous mortgage debt as that is 12 years, other loans of course as you would expect are six, so they may just keep it till then, but just maybe.
Just google "can I have a mortgage in an IVA" a lot of useful information out there
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jimmys
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Niobe
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I believe you just have to google it?
