I failed my IVA and since paid off the debts. Am I clear to apply for a mortgage ?

[Markdg15]

Hi all.
Need some advice I was on an IVA a number of years ago and decided I no longer wanted to continue with my IVA and agreed to let it fail. I have the fail notice dated 1st March 2010 and have since paid off the debts outstanding within the IVA.

My question now is will I have to wait until 1st March 2016 to apply for a mortgage or am I clear to apply now ? I must also mention my IVA is no longer showing on any credit file at all.

I have also been able to obtain finance and high street credit cards with ease now too.

Any help would be great.

Cheers

Mark

[kallis3]

Hi,

You may be ok but I recommend that you speak to either Shaun or Ryan (details under the experts link) to see if either of them can help you.

[Foggy]

The problem lies where some lenders will ask if you have "ever" been in an arrangement with your creditors.

Ryan and Shaun know who doesn't ask, or doesn't worry too much if the answer is yes .... depending on all of your other circumstances, of course.

[Lisa Thomas]

Hi Mark the 6 years applies to the date of the start of your IVA so it sounds like you have passed that point, hence there is no longer a record of it on your credit file. Hopefully Shaun or Ryan should be able to help regarding the mortgage query.

[Michael Peoples]

I think the IVA will be irrelevant except for the 'ever been in one' question. It will depend more on what is currently showing regarding the debts that were repaid so definitely speak to an expert and let them have a look at your credit file.

[Ryan]

Hi Markdg
You will need to get your credit files from all 3 credit agencies to ensure all adverse data has been cleared
I would be happy to look in to this for you once you have these.
I can be contacted at the website below

[Shaun Vickery]

If your IVA was originally registered over 6 years ago then there is a reasonable chance, depending on your other circumstances (income, deposit etc.)