www.iva.co.uk

Hi

Just after some advice. We entered an IVA march 12, early settlement Oct 14 and completion certificate received April 15.

We currently have a mortgage with nationwide (£96k) that is portable and have the possibility of a perfect property (£130k) which would require no further borrowing as the deposit and fees etc would be paid with equity (should achieve £135k in sale) we have when we sell this house.

Does anyone have any experience with porting a mortgage, is it even possible with IVA still on file despite no further borrowing. Also would nationwide be aware of our IVA as don't want to give them a call to discuss only to alert them to fact we entered one and risk them wanting to change rates etc.

Thanks for reading.

Hi,

It will all depend on whether or not Nationwide and your IVA company are happy - Nationwide will have been made aware of the IVA as all mortgage companies are but most are not bothered.

Thanks for your reply. Will I need to let the IVA company know if it has been settled and completion certificate received nearly 2 yrs ago?

Maybe worth having a discussion with nationwide.

Thanks

You won't need to let the IVA company know but your IVA will remain on your credit record for the full six years from it being taken out.

Apologies as well - I misread the original question!!

Thank you

If it were me I woukd contact Ryan from Zebra Money or Shaun from Select - both are mortgage broker experts on this forum who will offer you personal advice and may know of other nortgage products more suitable.
I can personally vouch for the service from Ryan's team at Zebra.

Thanks I have sent him a message.

Nationwide have a good track record with those who have been in IVAs. Personally I would call them first and explain the situation as you may be pleasantly surprised.

Thank you we have now spoken to nationwide and wasn't an outright, we have a meeting booked with local branch next week to see if they can do anything.

Thanks

Fingers crossed!!

It is a good sign that they are considering it rather than an outright rejection. Fingers crossed.

You might find it harder as the IVA will not clear off your record until 2018.

If no luck with the bank speak to one of the mortgage experts on this forum instead.

Take care not to make a formal application as this could damage your record further.

Best of luck.