Hi All - just wanted to find out from other posters how they have got on with getting renewals on mortgages when living with an IVA. The fixed rate on our mortgage finishes in July next year. We are just getting started with the IVA process and am assured that getting a mortgage with an IVA should not be a problem although we will likely incur less preferential interest rates. However I just wanted to hear (more reassurance for my nervous disposition) how others have got on. Has anyone needed to get a new mortgage having not long been in their IVA? Any stories of other people's experiences would be gratefully received!
Cheers y'all!
Fi x
Still gathering info....but hope to be on the right path pronto!!
Most lenders will be sympathetic and will try to accomodate a new deal for you based upon your circumstnaces. It is probably better to stay with the same lender, as they are likely to have better deals available for existing customers.
MelanieGiles wrote:
Most lenders will be sympathetic and will try to accomodate a new deal for you based upon your circumstnaces. It is probably better to stay with the same lender, as they are likely to have better deals available for existing customers.
So going to your current lender may be the best option Mel?? I only ask as our mortgage is with tsb and a lot of our debt was too,so I cant imagine they would want to help us out any!!
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
If you have paid your mortgage on time, and have a good loan to value, they are unlikely to link the unpaid unsecured elements to be honest. Give them a go - you may be pleasantly suprised!
Generally I have been able to fix my rate with the C&G, which I have prefered, however I have taken Mel's advice and actually not fixed but gone on the variable which is currently running @ 6.56% upping my mortgage by about £90 per month although I am looking and hoping the rates come down again in November and thereafter, if they look like they are going back up will get back on a fixed.This will give me a bot of flexability but as already discussed generally your existing lender will try and help you as much as poss.[:I]
On the slow safe road to success. Personal thanks to Melanie Giles Kallis Skippy Elv5 and all the other wonderful forum friends.
