www.iva.co.uk

Hi All, I am looking for a mortgage in a couple of months I have 10% deposit. I am aware there are mortgage advisors on this forum that are able to search for mortgages for people that have been in an IVA in the past. But if I went to my bank or another high street lender and didn't offer them information about my previous IVA unless they asked, or if they did, I say "no",, is this the wrong thing to do? My IVA ended in Jan 2012, I received my cc in oct 2013 and my credit files have now been cleared up.

Thanks for all advice.

If they don't ask the question then you don't have to volunteer then information. Before applying make sure all you credit files are updated with the negative information removed.

If however they do ask questions - perhaps you should seek advice from a whole market brokers - there are lenders out there who will dismiss your application if they get to know about your IVA regardless of time spent.

Banks can and do store their own information.

Untrue answers on a application form and signing a form stating the answers have been answered truthfully can lead to legal complications as well as rejections

If asked you should tell them.

You should read the small print too ... If it mentions IVA or insolvency in any way then you should consider how the question is written and be truthful in your response ... What you shouldn't do is ignore and hide from it.

"if they did, I say "no",, is this the wrong thing to do?"

Not only is it wrong, it's also something called 'Fraud'.

Is it really worth going to court to buy a house?

It is possible to get a mortgage at high street rates after an IVA from normal providers. I've done it, and moved into a brand new house just before Christmas.

I used a broker, and gave them all the information honestly up-front .

A fraud conviction will mess your life more than any insolvency would so tread carefully.

Given that even opening a simple bank account results in questions about ivas someone lending you tens of thousands will probably have a question on insolvency.

Paul

Thanks all for you replies. These answer my question and it is helpful to learn of others' experiences in this situation and knowing what's best to do.

Most lenders carry out historic checks of the insolvency registers, so the fact that you have had an IVA will probably still be discoverable and failure to disclose same could ultimately scupper your application.

I'd strongly discourage you from doing anything other than being entirely honest in your application. Apart from anything else, lenders share information via central records and if you are turned down as a result of dishonesty then you can realistically wave goodby to your chances for the foreseeable future. It's a good question all the same and regularly debated on this forum. I'm biased, of course, but in your situation i would strongly recommend you seek the advice of a broker specialised in this field. If they know what they are doing they will be worth any fee they charge and, not only will they be able to increase your chances of success, you also have to bear in mind that you won't get a second bite of the cherry. They won't be able undo anything you have done incorrectly!