I'm very surprised then! You have been very lucky.
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
i too wasnt aware the mortgage company would be advised of the IVA,we signed up in march for a 2yr fixed rate as the existing one had come to an end they didnt flag any problems,i was made aware by the iva company that i wouldnt be able to move to a different mortgage provider though because they would do a credit check
You're probably the only one I've heard of recently Mart. As far as I was aware the IP was obliged to inform any secured lender of the IVA.
Hopefully one of the experts can advise on that one.
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
I would too be interested to hear what the experts have to say on this issue. I wonder if it makes a difference if your mortgage company is also one of your creditors for another account, for example a credit card. Then they would definitely know about the IVA and not want to help you. I only have my mortgage and current account with YB and they are not one of my creditors in my IVA. I think that probably makes a difference.
"Just when you think that you can make ends meet, somebody moves the ends."
I know that my mortgage company were informed by the IP as they very kindly wrote and told me and also did a 'drive by' valuation and charged me £65 for doing so! They also told me that they had been informed that I was bankrupt!!
I have no other debts with my mortgage provider.
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
I dont think all companies do check, if your payments are all on time, you're not extending the deal or switching between repayment and interest only or trying to borrow more money I dont see the need to perform checks because you are not increasing the risk of non-payment to the bank.
The reason I went into the IVA was to protect my house!
"Just when you think that you can make ends meet, somebody moves the ends."
On the other hand they may worry that as you are in trouble with your unsecured finances you may well end up in trouble with your mortgage.
Who knows how these companies work!
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
I've never had a fixed rate, have always either been interest only or SVR which I am at the moment.
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
At the time we signed up for the iva we had been to our bsociety to request an interest only mortgage which they were helpful in telling us the payments and pitfalls of an interest only mortgage,we could have signed up there and then but decided not to,on reflection probably was a bad idea!
our house is up for sale now so when it sells no doubt we are moving into rented accomodation as we are in divorce and our iva will be changed to individuals from the joint iva we have now
i bank with the yorkshire bank as well.
but my mortgage is with cheltnham and gloucster and my fixed rate comes to an end in december so will post my little forray into this subject when i find out.
cc received 6th January 2014 now upwards and onwards
This month i came out of my fixed deal with C&G my payment dropped from £645 a month to £325 on the SVR, i rang my bank (barclays) as the were offering a cracking deal when i informed them I was in an IVA they wouldnt entertain me at all, so I went back to C&G and told them straight away I was in an IVA the guy said that was no problem and I got a offer on a new 2yr fixed straight away, although I got a rubbish interest rate offer and am paying £565 a month but hey its fixed and a little bit less so I am happy with that, all I can put it down to is I have never missed or been late with a payment
You are very lucky then - most posters are not able to get a new fixed deal even if they have never missed any payments with their company.
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
