www.iva.co.uk

Just received confirmation this morning from LLoyds TSB underwriters that Lloyds will not offer a Mortgage to anyone who has ever had an IVA or even completed one in the past!! Surely this can't be a fair policy.

So I suffer for years during the IVA payback period (my own fault I know) only to find out that this is a weight I have to carry for the rest of my life!

Has anyone faced the same response? Please let me know....

Has anyone been successful in getting a mortgage with any lenders with an IVA against their name???

Starting to think that this is the end of any chance of homeownership for me!

HI Pete -- there have been quite a few post IVA mortgages successes recently. The trick is to speak to a whole of market broker, who will know the lending criteria of the various creditors.

We have two such brokers who post regularly here: Ryan and Shaun, whose details can be found in the Ask an Expert link (scroll down the page for experts details).

Lenders all have their own criteria for lending and at the end of the day, its entirely up to each and every lender to have the right to lend to who they wish, no one has the right to borrow money full stop.

Having said that, there are plenty of ex bankrupts and IVAers who have successfully gained a mortgage from other lenders.

From the bank who probably has the worst record of selling unwanted products and expensive consolidation loans to their clients, this is a bit rich! Were it not for a substantial injection of government funding, Lloyds may well have found themselves doing their own insolvency.

Lloyds loss, will be every other lenders' gain.

It does seem to vary - we just moved last week (after a few years in a freezing cold old house) - again used a broker and with Halifax. Only advice i would suggest is save yourself the leg work and use a broker

Luluj used Ryan who posts on the forum and has a lovely house that is mortgaged post IVA. There is life after IVA so hang in there and do shop around using an whole of the market broker if necessary.

We're with Santander and spoke to them with regard to downsizing and was told they would never offer anyone with a history of an iva a mortgage either. Good luck on your search

Thanks for your advice everyone. Its good to hear that a mortgage is a possibility post IVA.

There will always be firms willing to offer mortgages to those with a checkered past.

As mentioned, it really is their loss.

Paul

Thanks Lesley - after another weekend away are ya with Freddie frog ?

Seriously - life after an IVA is great. Yes we got a mortgage whilst it was on a records - we did this by using Ryan as our Broker - he had access to a range of products and undertook a lot of work to ensure the lender we used in the end was the right one. Everyone has different circumstances, so deposit levels and mortgage rates will vary - the best advice is to contact a broker and as others have said we are lucky enough to have both Ryan and Shaun here on the forum.

There contact details are in the "ask experts a question" link on the left handside.

Best wishes and don't give up hope x