www.iva.co.uk

Hi, my husband completed an Iva in September 2014 but then had to pay some extra payments after he produced his payslips in early 2015. We had a court letter the other week but just explaining the case etc (vague I know but I didn't make any sense of it). Anyway we are looking to move as we need to upsize due to having 3 children and a tiny house. I've just called our current mortgage lender and did a mortgage in principal and it was declined due to credit score. I spoke to a mortgage broker who suggested to do that first. I guess what I'm asking is there any hope in moving/getting a new mortgage anytime soon?? I feel completely deflated. The Iva started in sept 2009. What do we do???

Speak to one of the mortgage experts here such as Shaun Vickery from Select or someone from Ryan's office. It sounds like you should be able to get something so let one of the experts look at your credit file and see what if any problem there is.

I've spoken to someone today and they have asked to see our credit reports. My husbands is extremely poor! I don't hold out much hope. #128532;

That sounds disappointing but at least you will know for sure what you can get and when. You should be able to find out when the credit file will be cleared up enough to get that mortgage.

As suggested speak to Zebra Money (Ryan's company) or Shaun ... either will be able to offer support and guidance to you.

On the face of it whichever mortgage broker told you to apply to your own lender first needs to find another career - immediately. For a start they may not offer the best deal but he should know whether they are likely to lend based on your circumstances and it's potentially another search on your credit file unnecessarily which isn't ideal. Obtaining your own credit file is a really useful first step so that someone experienced can establish whether there's any work to do BEFORE you make an application. Its about maximising your prospects in advance. It's relatively easy to obtain a copy of your credit file from someone like Noddle (free for life) and don't concern yourself unduly over the credit score the agencies provide. I'd like to be clear about that court letter though.

It was a court letter as such just a break down of the case file. We have been told that one of the creditors didn't at first agree on the settlement and have done so now. We've been told we will have a certificate of completion soon but will not give us a definite timescale!
I've done both my credit report and my husbands shows the Iva even though final payments were made 11 months ago!

The IVA will remain on your credit file until completion which would explain the poor credit file. Put the pressure on your IP for that certificate as it is holding things up. Hopefully Shaun can have a proper look at your credit file and advise better.

Thank you for replying and advice. Unfortunetley my husband lacks in that area of pushing for closure even though he knows how important it is. If I could do it for him I would as it's frustrating. I'd be on the phone to them everyday to sort, his idea is to phone once a week if that (it won't happen). I'm awaiting a reply from a mortgage broker who deals with this (he had a half day today but didn't think to tell me when he left me a voicemail!! And then didn't return my call)

Give Shaun a buzz or drop him an email. He must be there as he has been posting and his details are in the ask an expert section.

Just want to give a positive update. We have just moved in to our new home!! We used equity in finance after speaking to Shaun. He put us in touch with Tim who was just amazing from start to finish. He explained everything really clearly and was just so lovely. We got our new mortgage quite quickly and finally completed on Weds 25th May.
I would recommend these guys without a doubt and will certainly use them again in the future if we decide to move again #9786;#65039;

Excellent news Libby -- enjoy your new home

Very positive post.

All the best in you new home.

Great news - well done.

Thanks for the really positive feedback Libby - always a pleasure to hear! Just to point out though that it is Equity Finance not Equity IN Finance. Subtle difference I know but we are a very different firm!

Best of luck in your new home and thanks again for your comments.