www.iva.co.uk

I'm in my 6th year of the IVA following failing to remortgage. I'm hoping once my IVA has completed that I may be able to remortgage with a high street lender.
I know this could be problematic but on talking to someone socially who works for Halifax has told me that the question about IVA/bankruptcy is now " Have you ever been made bankrupt in the last 6 years " as opposed to have you ever been made bankrupt.
She also said that Nat West also phrase the question in that way.
Is this a change of policy and does this mean post IVA that it would be easier to remortgage with these high street lenders

Hi and welcome,

As you have never been bankrupt then you can truthfully answer that question 'No' but if it asks about an IVA as well then you will have to answer 'Yes'.

Some banks have been easier to deal with than others for a long time. However as Jan says you just have to answer the question honestly which is why it is worth using a specialist broker who knows the criteria of each lender.

Hi

Let's hope this is a change by the major lenders

Would help many move onto a sensible rate post IVA

Regards

The tough stance on lending was always going to soften over time.

May be a while before 125% LTVs make a return though!!

Paul

Ryan and Shaun on here are mortgage experts who can help guide you in the right direction for a remortgage.