Hi all. Just wanted to share with you all that there is light at the end of the tunnel. I started my Iva journey back in March 2016. I agreed to a 6 year Iva with Blair Endesby which changed to Grant Thornton and then Aperture. I was fortunate enough to have no issues what so ever with my IP. My journey ended in March this year and Completion Certificate arrived in May. Applied for a Capital One Luma credit card and was accepted and so started spending about £50 a month and repaying in full each month.
On to the credit reports. Paid the one off £2 fee with Experian and Equifax and registered for free with Noddle. Everything had dropped off except for a Yorkshire bank loan that was showing missed payments from the first 12 months into my Iva. After a few phone calls to Yorkshire bank they apologised and removed the defaults from all 3 credit reference agency.
So 6 months after the end of my Iva I needed to sort out my mortgage and swap from my interest only to a Repayment mortgage with a good rate with a high street lender. I was going to use one of the mortgage brokers on here but decided to go it alone. I started looking online at best mortgages and made a few calls to see if they would lend to someone that has been in an Iva. Didnt get off to a good start as most said No. Then rang Hsbc and First Direct. Both said yes. Chose to go with First direct as they have won all the awards for best bank and customer service. Did my full mortgage application and today they rang to say everything has been accepted and is all going through. They also asked if i was interested in swapping my current account to them and taking a loan, overdraft, and credit card which i declined.
Its great now knowing that there are high street banks out there that are happy to help even if you have made silly mistakes in the past.
Good luck to all that are on their journey's through Iva at the moment, and there is light at the end of the tunnel
Well done Andy. Must say I am surprised that First Direct / HSBC were the ones to come through as they are both notorious for closing accounts with no notice when they discover the account holder is in an IVA -- even when they are not a creditor.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
That's great news but I am also surprised that First Direct have come forward - they are notorious for closing accounts.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Thats a great post and will give hope to other forum members.
Did you have to declare your past iva in the application ? Having recently done our mortgage I know 7 years on we still say yes if the question is "have you been/are you in an IVA" ...
Sounds like HSBC and First Direct have changed their approach maybe !
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
TBH I explained my whole IVA situation at the very start of the application and all they asked was whether i had my completion certificate and confirmation of start and end date. I would go as far as saying that they were brilliant from start to finish. Asking questions about life style. It just seemed a more personal touch and made it all seem so stress free
Brilliant to read. I will be hopefully finished in November and next year will have to sort out mortgage as been on interest only since 2009 when started DMP before IVA.
Started a DMP sept '09
IVA since Dec '11
Completion Certificate Dec '16
