www.iva.co.uk

I completed an IVA F&F 10.2009, Have kept my credit file as clean as can be with all the right definitions after the defaults IE Satisfied or partially satisfied. My question is with my mortgage company. Have been with them for over 10 years. No problems what so ever. Took out a tracker package in 2011 no questions asked but now when I am looking to update my package which is coming to a close all they can offer me is a variable rate. They say it is now flagging as a credit riski. Question SHould i try harder with the mortgage company or go else where ?

Mortgage lenders have really tighened up their criteria in recent months, i recently spoke to someone who was rejected as a result of a late credit card payment!

Any defaults will stay on your credit file for six years, do you know when the defaults are due to fall off your credit file?

the IVA was completed in October 2010

When was your IVA approved? your IVA and defaults will show for 6 years from the date of approval

The IVA was approved in March 2009 and the completion certificate was Oct 2009. Appreciate the six years ; so 2015.

Do you have any suggestions as to whether to stick it out with current lender till the Credit file is clean or do you know of a mortgage company which may be sympathetic.

Regards
DAC26

You could always try Ryan he posts on the forum and I'm sure he'll give you some advice in the first instance as to the best thing to do.

His contact details can be found on the left in the Ask experts a Question Link. He's helped lots of posters but do understand if you just want to sit it out with your current provider. x

Yeah 2015 they will fall off.

We have a mortgage broker Ryan on here who may be able to offer you further advice, he can be contacted via ask an expert tab on the left of the page

Lol, good advice lesley

Many thanks will take up the advice.

I spoke to Ryan yesterday about my mortgage to see if there was a better deal out there....the advice i got was ensure credit file is as clean as it can be before seeking new options. He also confirmed that lenders had really tightened up in the last few months with bad debtors and therefore options were even more limited at the moment, but still not impossible.

That's the stumbling block if you show defaults satisfied or not won't make a jot of difference until their gone, you are basically stuffed.

There are brokers out there that can get subprime loans but you won't want to be doing that.. Even livivng in the wrong postcode can work against your CR's

To get High Street lending rates you CR must be clean and all trace of defaults and IVA gone, this will only happen after six years (statute) my advice don't go to previous lenders or apply for any credit until all three CR are clean and gone

I waited and on the axe of six years sanitised my CR's of all trace of IVA I get something like 982/1000 credit score and that happend overnight, (odd but true) that's the way it works

(they're)