Banks that do not ask "The Question"

[TheMatrix]

I cannot use halifax as they were a creditor, hence my current bank is lloyds tsb and doubt I'll be able to use them too so now looking for a bank to save my deposit with that will like me. Finding it hard though.

[mole]

You could lie?

[TheMatrix]

Don't want to do that, could end up in trouble.

[Shining]

Probably best to be honet all the way as you agree TheMatrix. x

[Broke of London]

It may be best to use a whole Market broker like Ryan who can help people with an impaired credit history. Remember, just because they ask the question it doesn't mean they'll refuse you!!

[luluj]

Have a chat with Ryan.......why do you want to save the mony with th same bank that is going to lend you money for a mortgage ?

We have a mortgage via Ryan, with a Building Society ...... The interest is higher due to the IVA on our records but in all honesty we didn't mind that as it was a means to getting a mortgage.

[TheMatrix]

What I wanted to do was save the money with a bank or building society regularly with them so they can see that I can afford the mortgage repayments when I come to apply.

Have been using Lloyds TSB as been my bank throughout my IVA but have now heard, unofficially that they look at old accounts from the Halifax before deciding whether to accept at the later stages of the application which is not good.

I'm not in a position at the moment to buy, I've saved up a 10% deposit now but do also want a bit of savings to fall back on and would like to increase the size of deposit to more like 20% which will take a further year. Just doing some research at the moment as to where I should be saving so not really in a position to apply otherwise I'd have a word and see where I stand.

I agree about the asking of the question BOL but I would think it would have a significant impact on any decision. e.g. I know HSBC would not touch me as an example as they rule out BR / IVA / Defaults with or without them so answering yes to them will just see me and them wasting time even if I did not have any old debt with them previously and they knew nothing about it until I put it on the form they'd still decline. Not that I'd touch HSBC anyway

[Sarahhayley]

Hi, have you tried Co-op bank, they have a basic bank account that is specifically for people who have been bankrupt, or have financial difficulty. I have just seen it on their website as I was in the process of applying for a new bank account myself.

[TheMatrix]

That was one of the first banks I checked out as have no prior history with them

However this tends to suggest they are not interested

http://www.co-operativebank.co.uk/servl ... T.svl=nav3

Will call and find out more as it says on the page tomorrow though and if I like what I hear I might try for their standard current account and if accepted move. But due to the eligibility requirements for the mortgage am doubtful but know they have good reviews on here.

[ginger3232]

Matrix - thats a bit dissappointing with the Co-op attitude to mortgages post IVA. Bank of Ireland have certainly changed their attitude also - the question previously was "in the last six years......"

Co-op dont borrow money from other banks - there tend to use their own funds to lend out - so they have also known been a bit stricter on borrowing.

[TheMatrix]

They all seem to be tightening up their lending criteria

[vince666]

Unfortunately the vast majority, if not all lenders now ask the dreaded question for direct applications. My understanding is that if you answer honestly the application will automatically be rejected without any consideration.

You therefore only have two real options:

1. Speak to a whole of the market broker such as Ryan who may be able to introduce you to a lender that doesn't ask the question.

2. Answer the question incorrectly. Technically this probably amounts to fraud and is really not advisable. However most of us were fed a few non-truths when signing up to an IVA in the first place, so I certainly wouldn't blame anyone who did this if they felt this really was the only option available to them. At the end of the day, none of us deserve to be denied access to a mortgage for life.

[TheMatrix]

Well spoke to a number of banks and building societies today, either they flat out rejected the option to apply or said that the IVA needed to be completed for 6 years before they would consider me.

A hopeless task

Edit: Oh and another question they ask is how much was the IVA for, when it started and when it completed.

[luluj]

Don't give up - when you are ready contact Ryan and he will be able to support you I am sure. Our IVA ended in March 2011 and in April 2011 we had a mortgage agreed with a Building Society - we were honest and upfront with Ryan and he did all the leg work to search for the best deal - we have to pay a higher interest rate for a couple of years but so be it - we are on the property ladder !

[Niobe]

That's disgraceful - I wouldn't want to let them know how much my IVA was for! The fact that it has been completed should be enough.