Ease or difficulty of getting a mortgage ?

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Natasha.h

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Post by Natasha.h » Wed Jun 24, 2015 2:45 pm
I'm still in my IVA at the moment but looking around at how easy (or difficult!) it will be for me to get a mortgage. On Nationwide's mortgage application form, it asks "have you entered into a voluntary arrangement with a creditor in the last 6 years."

Does this mean the date the IVA started or any part of the IVA at all? As if it's all, this would mean you have to wait a further 6 years after the 6 years the IVA is on your credit file (5 paying years, 1 year then removal).
 
 

Michael Peoples

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Post by Michael Peoples » Wed Jun 24, 2015 3:30 pm
Once six years have elapsed from the date the IVA was approved it should be easier to get a mortgage. Speak to a whole of market broker at the time.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
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If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com
 
 

Foggy

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Post by Foggy » Wed Jun 24, 2015 5:19 pm
On the wording of that specific question ... when did you ENTER the IVA ? I would take it that, after the IVA had gone from my records ( 6 years from the start) I could honestly answer that I hadn't entered into an IVA withing the last 6 years.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
 
 

luluj

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Post by luluj » Wed Jun 24, 2015 6:46 pm
Use a broker such as Ryan or Shaun ..they will advise you what to do in these circumstances. Their contact details csn be found under ask the expert section.
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hubert

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Post by hubert » Wed Jun 24, 2015 10:37 pm
Definitely the date you entered the IVA originally. So if your IVA finished, dropped off your credit file along with defaults, you were off the insolvency register then I think you'd be in the clear.

What a great question. So much nicer than "have you EVER entered into a voluntary arrangement with your creditors".
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