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Posted: Mon Aug 03, 2015 9:12 am
by Steven.y
I have a mortgage and is due for renewal in 2 years. If I have an iva will It stop me getting the renewal?
Posted: Mon Aug 03, 2015 9:22 am
by lifenoteasy
It depends on the lending criteria of your bank.
Posted: Mon Aug 03, 2015 9:27 am
by kallis3
Hi and welcome.
Some mortgage companies are happy to do so, some won't. Mine own was happy to offer me a new deal once the IVA had finished even when I told them I had been in one.
Posted: Mon Aug 03, 2015 11:22 am
by MG12
I changed my deal with current mortgage provider 3 years into IVA & provider knows about IVA.
Posted: Mon Aug 03, 2015 11:43 am
by simon1883
I'm with the Halifax and they are more than happy to look at deal - to the point where I am waiting for an offer. Ok so it isn't a market leading 1.50% job but I have high LTV and its a mainstream rate, with a mainstream lender. payments may even reduce. and all the reduction is yours until the next annual review.
So if you can tie in the offer acceptance to the day after you review you will benefit from a full years worth of savings.
Posted: Mon Aug 03, 2015 12:17 pm
by Helen.k
we are going through the application to get a better rate with our current lender (Santander), we have several debts to them also. The application was all done online and the new paperwork was through within a few days
Posted: Mon Aug 03, 2015 6:13 pm
by Foggy
A few have been converted to better rates during their IVAs. It does all depend upon the criteria of the lender ( and, I suspect, whether they had a good breakfast or not! ).