Good morning. I completed an IVA back in 2010 with a clean credit file from 2011. Since that experience my credit has been well managed. I have checked my credit file and the insolvency register with no evidence of an IVA. I am about to make a mortgage application. What hurdles am I likely to meet? I'm SO worried my past is still going to affect my future
Have a chat with Ryan or Shaun - they will be able to help you out with some advice.
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
You should have little problem but just in case make sure any search is a soft search which does not damage your credit file. Relieved 33 recently completed a mortgage via Shaun Vickery and the Select Partnership so a High Street mortgage is a possibility.
We completed last week nearly 3 years post iva. Our credit reports were clear, we both have stable, permanent employment and we felt very nervous like you.
For that reason we went with a broker and paid their fee. It was a very thorough financial analysis of where we are and want we want to do. We have a High Street mortgage, previously the wrong side of Northern Rock, at a very good rate and getting it hasn't affected our credit rating or meant we had to trawl pages and pages of small print to see if the iva would be an issue.
I know some posters have previously said that they hadn't declared a past iva but I would worry about being done for fraud! I would definitely recommend Select with Shaun.
It's important to plan ahead of making a mortgage application and avoid making random applications to lenders. An expert in this area will be able to guide you through it.
Specialist Mortgage Advisers. Highly Commended at the British Mortgage Awards.
I agree that a broker woud be worth his weight in gold. There have been a few IVA'ers who have walked into a HIgh St band and got lucky --- however, there have been more who have shot their credit rating down again, by making refused applications -- these leave a stain, and a red flag, on your credit files.
Reference in the replies above has also been made to honesty --- if you are asked "Are you in an IVA?" , you can truthfully reply "No" .... If asked "Have you evern been in an IVA?" , the truthfull reply would be "Yes" ..... now ... to some lenders this won't matter ( some will lend, some in 3 or 6 years, some never ... depending on there own criteria). However, a false reply could well see a sympathetic lender turn you down, or the house repossessed later, if it comes to light).
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
