I am recently out of an IVA my details no longer appear on the insolvency register either. I am hoping to be able to move out and into a larger house which is required, can anyone help me with a new mortgage, I already have my mortgage and have a separate secured loan. Any help please?
Mainstream credit will not look favourably on you regardless of whether you are on the Insolvency Register or not. The stumbling block here is your credit reference agency files. The IVA and defaults will all show there for 6 years from the start date of the IVA ( assuming the defaults are correctly dated).
I would advise a chat with a whole of market broker versed in the problems faced by those with an IVA in their recent history, such as Shaun and or Ryan who post regularly on the forum.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Even when your insolvency record vanishes from any current source,and it does drop off and with 0% trace....you might be pleased to hear..... But you will be asked about it by your broker and bank on 99.9999% of home related loans?
That is the illogical part of qualifying for a home loan with a cleared insolvent creditfile.
They(bank,broker) wouldn't ask what they deem as 'unimportant'.And even if the Iva no longer applies(prerequisite to an application)They still ask?
You need specialist brokers definitely to help you through the illogical process
Last edited by TzeKin on Sat Jan 03, 2015 12:20 am, edited 1 time in total.
