I completed my iva 5 years ago with a full and final, however the ccj is still on until march 2017.
my credit rating is fair sometimes good with Equifax, I would like to remortgage in 2017 (to get a better rate) after the ccj comes off,
Ebven though my iva will not show and the ccj will also not show will I have to declare this to a lender? or have I got this iva for the rest of my days?????
thanks
cal
Although the IVA does not show, and the ccj will soon drop off it all depends upon the wording of any question the lender asks. If they ask if you have ever been in an IVA or had a judgement you should declare both, or risk having the application rejected if they discover otherwise.
Declaring an IVA doesn't mean they won't lend as this will depend upon their internal policy -- some lenders don't care others will never lend. The trick is knowing who to ask. I would suggest having a word with either Ryan Radford or Shaun Vickery, both forum members, who are whole of market brokers with experience and some success in the adverse credit market.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
If I recall correctly, someone on here said that the Nationwide ask specifically "have you entered an IVA in the last 5 years?".
Which is nice, as you could answer "no" truthfully.
My opinion is you don't have to declare it even if asked the dreaded "ever" question once it's off your file. Otherwise why would it be removed from your file if you always had to declare it?
However, my opinion is not popular on here with regards that point!
If I recall correctly, someone on here said that the Nationwide ask specifically "have you entered an IVA in the last 5 years?".
Which is nice, as you could answer "no" truthfully.
My opinion is you don't have to declare it even if asked the dreaded "ever" question once it's off your file. Otherwise why would it be removed from your file if you always had to declare it?
However, my opinion is not popular on here with regards that point!
I leave it to personal discretion...
Hi Hubert. It is not that your opinion is not popular, but, as a forum we cannot condone answering dishonestly --- this has to be left to the individuals own conscience.
Although some have disputed that there is any risk I can confirm, from experience in a previous life role, that I know of parties who have lost their houses after being found to have made a false declaration on mortgage applications.
"You pays yer money and you makes yer choice"
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
