www.iva.co.uk

Just wanted to say hello and introduce myself as I am new here.

My name is Paul, and I live in the Midlands.I have actually finished my IVA for around 69K which ended in April 2010 after 5 years. I only wish I knew about this site earlier!!

For those starting out or midway through, hang in there it really does end quicker than you think.I'm not sure if I speak for everyone but it is also nice to reach the end and have the feeling of appreciating the value of money back. I will try and pop on here once a week at minimum.

P.S If anyone can point me in the direction of post IVA mortgage lenders I would greatly appreciate it

Bye for now, Chopper

Hi Chopper and welcome to the forum.

I'm pleased to hear that you have finished your IVA. Well done on completing. As to mortgage lenders, one of our posters did get a mortage but she had a 50% deposit.

You will need a good deposit and will probably have to use a sub prime lender.

Hi kallis3,

Thanks for the welcome. It really is refreshing (and a little sad at the same time) to see so many people who are/were/going through the same struggle.

Not sure about having 50%, but myself and my partner only need to borrow £80k (maybe only £72k) for a part buy part rent with a £10k deposit. I know it's wishful thinking but if you don't ask you don't get!!

Chopper

HI and welcome to the forum. Well done on completing your IVA. Try a all market lender and you never know it's worth shopping around but as Kallis says it's a tough one. Great encouraging post. x

Welcome to the forum. How clean are your credit files??

Paul

Congrats on completing your iva! Very inspiring!!! x

Hi guys, again thanks for the warm welcome

plasticdaft - My Experian credit history is now spotless. My score is approx 928. I checked last August (4 months after finishing) and both my IVA and IVA completion were shown. However on checking last week both have gone although I'm told that lenders use another more secret history file that will show IVA 4 to 6 years after completion.

My partner has a score of 999 so a bit annoyed to have been rejected especially when we only wanted to borrow £80k.

Actually that reminds me a good tip for anyone who uis stil in an IVA. Get a cashplus pre paid credit card and opt for the creditbuilder option. You pay £4.95 a month for the card BUT it improves you credit score while in an IVA, and because you are not borrowing the money you are within the rules

Chopper

That is a great read Chopper, and I am pleased to see that things are moving along for you correctly post-IVA.

Chopper as someone who has just had their IVA approved today you have given me great encouragement to ensure this works. thanks and good luck with your mortgage

newbeginnings - Thanks and congrats on starting the journey. To be honest it's all about getting yourself in the right mindset from the off.

Forget the money you are paying, and learn to be more extravegant with your expenditure when you get your first expenses review. I'm a mechanic, and once my IVA started my car recieved a great deal more care/servicing than previously, my tools broke more often, my tolietries increased and my work boots were replaced more often if you catch my drift. Don't take the mickey, but put your mind to it and your expenses can be greater than you first thought.

Good luck, wishing you a safe and speedy journey
Chopper

I must agree with the last post. Be honest with your expenditure, if petrol goes up put it in, put in for car services, as children get older put in for clothes a little bit for school trips and so on. Im not saying make it up but think of everything. I was lucky and never had to increase payments in my IVA with the annual review because i could evidence that i needed the money. My heart sinks when i read posts about people really struggling each month and kids going without the very basics. Be honest with your I.P and it makes life a little easier.

chopper - happy to share my mortgage broker details with you. If you want them let me know and I will ask admin to send me your email address (it can't be posted on here) and I will send his details.

We did need a 50% mortgage / deposit back in april this year and there was only one lender willing to help - but things do change and he now may well know of others so it may be worth giving a go !

Luluj

Many thanks for that, if you could it would be appreciated. I'm going to try one more roll of the dice before giving up and renting for the next few years. I did think I set my email to be visible, more than happy for them to pass it on if that is what is required.

Chopper

Hi Chopper - I will send your details to Luluj.

kallis3

Many thanks