How long before my credit file is healthy enough for a standard mortgage rate ?

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suky424

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Post by suky424 » Mon Apr 14, 2014 6:17 pm
I am coming to the end of my 6 years, I have about 6 months left. My IVA itself was completed early on a F&F settlement. My partner and I are hoping to buy a house together as soon as we can. I realise that my credit file is still showing the IVA and as such will affect any mortgage rate we are offered. My partner has a healthy deposit, (he learnt the art of saving from his father). My question is how long is it likely to be before my credit file is healthy enough for a standard mortgage rate?
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Shining

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Post by Shining » Mon Apr 14, 2014 6:20 pm
Hi, as you say your IVA will drop from your credit files after 6 years from the start date of the IVA. However, you'll have the job of tidying up your credit files and removing any incorrectly dated defaults. One agency does move the credit file into a section of the report too. (sorry to be vague, but I honestly can't remember which).

Also bear in mind when applying for a mortgage that question have you ever been in an IVA or similar may crop up.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
 
 

suky424

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Post by suky424 » Tue Apr 15, 2014 9:20 am
Thanks Lesley
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