www.iva.co.uk

Hey everyone.
we made our last payment on 1st January and are now completely debt free which is a great feeling after 6 long years. We have been told by our company that completion certificate should be with us in t next few week.
My question is we have spoken to a mortgage advisor and told them all our history and we have been offered a mortgage in principal already, is it safe to start looking at houses or should we wait until we have our completion certificate in hand? Any advice would be ally appreciated
Kelly

Hi, well done on completing. Have they credit checked you? Have you ensured your credit files are all nice and tidy? It's great news you've been offered a mortgage in principal.

Thank you Lesley for the quick reply. I have checked my credit file with one company and it was 999 out of 1000 and the bank used the same company to credit check us for the mortgage. Would you think its ok for us to really start house hunting?

I'm no expert but it has been said on the forum that despite the score some have their own criteria for lending. Hang around and I know a much more knowledgeable poster will be along soon.

Hi -- and well done on getting an offer in principle. Which IP are you with, as some are taking up to a year and beyond issuing certificates ( whilst others can do it in weeks !!). Has anything been said about PPI refunds in your IVA ?

Our ip is Joanna wright, a few days after our last payment we got a letter saying we had to sign and return some forms regarding the ppi and the letter and our contact at our iva company have said they don't wait for the outcome before issuing a certificate as long as we sign and return the forms which we have so hopefully that is the case.
Still feel really nervous about getting our hopes up and looking at houses though as was not expecting to be able to so quickly

Our ip is Joanna wright, a few days after our last payment we got a letter saying we had to sign and return some forms regarding the ppi and the letter and our contact at our iva company have said they don't wait for the outcome before issuing a certificate as long as we sign and return the forms which we have so hopefully that is the case.
Still feel really nervous about getting our hopes up and looking at houses though as was not expecting to be able to so quickly

...of Begbies Traynor ?

It seems they are on the ball with PPI then Good news on that front.

Remember that the offer you have in in principle only -- hopefully your broker has been upfront with them and they ARE aware of the IVA.

I think they are part of that company that we were with, w3? The mortgage offer was from nationwide ( went to them diret) and i told their mortgage broker everything and even have an email from them confirming that its ok as we have passed the six year mark now, do you think this is correct or could it still cause problems along the line somewhere?

If they are happy I am sure you will be They are taking a very sensible route -- you have done your time !

Please keep us informed as to how you get on -- I am sure others in the same boat will love to know there are sensible lenders out there.

Thank you for taking the time to reply, i will definitely update when we get our completion certificate and when we find a house we like how the mortgage process goes, maybe a while as now we can actually look for houses i seam to have become very picky! This website seams a lovely place, shame i only found it towards the end of my iva as it would have helped a lot when you have those worrying 'what have i done moments' and 'will i ever get to the end' ones

Well done ...really keen to track your progress in moving onto the property ladder etc....so many other forum members will be looking in with interest ! Let us know how things develop and if you need to speak to a mortgage broker for further advice Ryan who posts on here is a broker who deals with the whole of the mortgage industry and has many a useful contact.

No PPI hold up. I wish Grant Thornton would do the same. Good luck and well done .

Hi Kelly

Just out of interest what level of deposit are you looking to put down for this mortgage and was it higher because you had been in the IVA?

Hello, as we did not have a property in mind when we were speaking to the advisor as we had no idea of what we could borrow they based the mortgage on the most we could borrow based on our earnings and the it got accepted on a 5% deposit. We have been told the interest rate is dependant on the size of the deposit so once we find a house and go in and discuss more about the price we will find out the actual interest rate. Hope that makes sense.