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Solicitor bankruptcy search

Printed from: The IVA Forum - Individual Voluntary Arrangement Forum
Topic URL: http://www.iva.co.uk/forum/topic.asp?TOPIC_ID=42502
Printed on: 15 September 2014

Topic:


Topic author: stephendl
Subject: Solicitor bankruptcy search
Posted on: 20 January 2012 17:56:42
Message:

Just want to check something,

I have applied and been accepted for a nationwide mortgage, went into branch and completed full application for a property we have brought. She asked me if I was ever made bankrupt but not if I was in a Iva, so I said no,

Now looking at the legal searches it says there will be a bankruptcy search carried out,

My question is they search the insovancy register, and go back 100 years so I've read, will I be on there even though I was in a Iva and not bankrupt? It's been 6 years and my credit report are all clean hence the acceptance

Replies:


Reply author: Foggy
Replied on: 20 January 2012 17:59:49
Message:

If they specifically used the word bankrupt, then you answered honestly, so you are OK from that point of view. What they will do if they discover the IVA is anybodies guess at the moment.

Best of luck, let us know how it turns out.


Reply author: kallis3
Replied on: 20 January 2012 18:00:07
Message:

Once your IVA is complleted then it should have dropped off. Check it for yourself. You'll see what they can see.


Reply author: stephendl
Replied on: 20 January 2012 18:22:24
Message:

Yeah she specifically said "have you ever been made bankrupt" I came off the insolvency register last year, about 13 months now so I am no longer on there but what I'm thinking is, will the solicistor go back say 6 / 10 years? Also I guess even though it's a bankruptcy search an iva will show on there?


Reply author: kallis3
Replied on: 20 January 2012 18:24:37
Message:

I don't know how far they go.back but it will say IVA if they find anything.


Reply author: stephendl
Replied on: 20 January 2012 18:37:19
Message:

Hmm, so my mortgage could get thrown out, ok thanks for your help, much appreciated


Reply author: Daveyboi
Replied on: 20 January 2012 19:05:43
Message:

They have specifically asked if you have been made "bankrupt", if it does come up on their search that you have been in an "IVA" you have not lied and hopefully it won't affect their judgement. If they were concerned about that they would have asked if you have ever come to an agreement with your creditors before on debt.

I wish you the best of luck keep us updated and don't be too defeatist too soon it may all be well. Also if they do reject you there are companies that don't mind post IVA's so don't give up hope. There's always a solution somewhere :D


Reply author: kallis3
Replied on: 20 January 2012 19:08:22
Message:

Good luck from me as well.


Reply author: plasticdaft
Replied on: 20 January 2012 19:08:52
Message:

There is no record of your IVA though,after it drops off the credit files,other than if any creditors keep records of customers who went into an IVA themselves.

Paul


Reply author: Andy Davie
Replied on: 20 January 2012 19:15:02
Message:

Hi
Whenever you buy property, regadless of your credit history, the solicitor will carry out a bankruptcy search.

You have nothing to worry about

Regards


Reply author: Daveyboi
Replied on: 20 January 2012 19:15:53
Message:

In previous threads it has been said that companies can basically print off the insolvency register and then no matter whether you are on it now or not they can search you forever more that you have been on it. Whether this is true or not I don't know but I do know that if you are asked if you have been in an IVA or ever come to an arrangement with your creditors I would say answer truthfully as you could be done for fraud if you lie on a legally binding contract such as a mortgage and is really not worth it.


Reply author: Andy Davie
Replied on: 20 January 2012 19:32:05
Message:

Hi

I am not aware of it flagging up on the Insolvency Register unless you are still on there.

Answer truthfully, if asked have you ever been made bankrupt and you haven't then you have nothing to worry about. If it states have you ever been made bankrupt or entered into an arrangement with your creditors then the answer should be yes.

Regards


Reply author: Daveyboi
Replied on: 20 January 2012 19:38:15
Message:

Andy it was in a previous thread where some companies do a kind of yearly download of the Insolvency register which of course shows IVA's as well as bankruptcy then they have a database of their own to search in the future so whether you are on the insolvency register or not you could still be searchable. Basically by making it an online database and so accessible it means companies can use that information in the future against you potentially.

As I have said and you appear to agree just answer truthfully and then nothing can be held against you


Reply author: stephendl
Replied on: 20 January 2012 19:58:59
Message:

Would a solicitor do this though? I have answered it truthfully she asked if I was bankrupt I said no. I was in a Iva but never bankrupt


Reply author: Daveyboi
Replied on: 20 January 2012 20:01:26
Message:

I very much doubt it Stephen I think you have answered everything truthfully and have nothing to worry about. If you do have any problems my advice stands to not give up hope and just research into companies who are accepting of post IVA candidates. I think you will be fine.


Reply author: stephendl
Replied on: 20 January 2012 20:07:53
Message:

Thanks for all your help the mortgage has been approved so hopefully this won't affect it. Don't want to loose the house we have gone deep into the buying faze


Reply author: Daveyboi
Replied on: 20 January 2012 20:08:59
Message:

It's bound to play on your mind but think positive thoughts and cross any bridges that pop up along the way when they do otherwise it will stress you out big time. Off out for a drink now so good luck and let us know how you get on :) Have a good weekend


Reply author: stephendl
Replied on: 20 January 2012 20:09:15
Message:

When they do the search are they just looking for bankruptcy ?


Reply author: stephendl
Replied on: 20 January 2012 20:11:02
Message:

Thanks Daveyboi you've been a great help


Reply author: kallis3
Replied on: 20 January 2012 20:13:21
Message:

Fingers crossed that you get your house without any problems. Got everything crossed for you.


Reply author: stephendl
Replied on: 20 January 2012 20:19:14
Message:

Thank you :)


Reply author: stephendl
Replied on: 20 January 2012 23:03:20
Message:

Just been doing some reading and from what I can see the solicistors will carry out this search,

Bankruptcy Search (K16)

And that searches the register for the last 5 years, so I should be alright considering my I V A is now complete more then 6 years

Land Charges Search (K15)

This search talks about if the land is unregistered, then the search will need to be carried out on the person, this can go back to any date, but surely the land has a house on it with previouse owners so it surely must be registered, am I reading that right? I should just need the k16 search?


Reply author: kallis3
Replied on: 20 January 2012 23:09:19
Message:

No idea on that one Stephen.

I really think you will be ok.


Reply author: Foggy
Replied on: 20 January 2012 23:10:18
Message:

Depends on how long ago it was last sold. I believe all of the UK now has compulsory registration, but this hasn't always been the case. Chances are it is -- you could alway check yourself with the Land Registry online ( there is a small fee).


Reply author: stephendl
Replied on: 20 January 2012 23:20:18
Message:

Yeah, I think I will order it. It's 4 but left my wallet in the car. The k15 form does say this
APPLICATION FOR AN OFFICIAL SEARCH
NOT APPLICABLE TO REGISTERED LAND

So if that's the case It should be alright. Thanks again sorry to moan but first time I brought a house and just want it all to go smoothly :) will keep you all posted for future reference Incase some one else is in my shoes


Reply author: kazzafunk
Replied on: 20 January 2012 23:25:46
Message:

I hope everything goes ok for you! Let us know as it's always encouraging to see that you can get a mortgage post IVA.


Reply author: kallis3
Replied on: 21 January 2012 07:24:00
Message:

Looks as though it will be ok Stephen.

Let us know when the housewarming party is!!!!


Reply author: Firefox
Replied on: 21 January 2012 10:08:32
Message:

Hi,

I found this link that explains everything . it seems you have nothing to worry about.

http://freeconveyancingadvice.co.uk/bankruptcy-search-k16-os1-os2-precompletion-searches-conveyancing.php

I will probably be in the same boat as you next year...

Best of luck with the move


Reply author: stephendl
Replied on: 21 January 2012 12:03:14
Message:

Hi, thanks for that link.ive just done the land registry search to make sure it was registered and it is.

So looks like its just a basic k16 bankruptcy search. Will keep you all posted as to what happens.

Good luck to you also for next year Firefox


Reply author: robertsb
Replied on: 23 April 2012 10:31:14
Message:

I have a similar problem right now and was wondering how you got on? When filling out the on-line form I was asked 'have you ever been decalred bankrupt' to which I answered 'No'.

I've been on the phone to Nationwide for over an hour and was not asked about about this again. The credit checks were all fine and I've had the application form in the post to sign and return to them, having paid the booking and surveyor fees.

Now I notice on the declaration that I have to sign that it says 'Ever Baknrupt/Declared Insolvent' with a 'No' next to it. I can't truthfully sign the declaration as I have a completed IVA. Now that I've invested money in the purchase, I don't want to blow it at this point but I'm having a bit of a panic...


Reply author: ginger3232
Replied on: 23 April 2012 11:07:25
Message:

robertsb - it may be worth scrapping the application or at least speaking to Nationwide again and then seek advice from a whole market broker - they will be able to identify which lenders are more verse on post IVA.

If you mortgage is refused - this also need to to go down on the next application if asked.
you will need to answer truthfully on the application as if you knowingly mislead the information - you may find mortgage fraud charges being applied.

Most main lenders are part of CML - and share information (similar to car insurance)data bases


Reply author: kallis3
Replied on: 23 April 2012 11:31:41
Message:

I agree with ginger that you should go to a whole of market broker.

We have a mortgage broker on here. His name is Ryan and his details can be found under the 'Ask a Question' link on the left hand side of the page. Give him a ring as he has been able to assist several posters to get mortgages.


Reply author: sally.kp
Replied on: 15 February 2013 10:04:01
Message:

What was your outcome stephen we are in the same situation rght now would be very good to have some advice.


Reply author: don
Replied on: 17 February 2013 16:15:54
Message:

Hi

Dont waste your money on the land charges search. this was the way in which to register various matters relating to a property and person before the advent of registered land. it would not be carried out against you in any event as would be done against the seller and the property ONLY if the land is not registered with the land registry so dont worry about that one. The bankrupty search is carried out against you the borrower and will reveal if there are any CURRENT registered insolvency or bankruptcy entries against you. So i you have been accepted for the mortgage and your name is not on the insolvency register - you will be fine I am sure.


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