I completed an IVA F&F 10.2009, Have kept my credit file as clean as can be with all the right definitions after the defaults IE Satisfied or partially satisfied. My question is with my mortgage company. Have been with them for over 10 years. No problems what so ever. Took out a tracker package in 2011 no questions asked but now when I am looking to update my package which is coming to a close all they can offer me is a variable rate. They say it is now flagging as a credit riski. Question SHould i try harder with the mortgage company or go else where ?
Mortgage lenders have really tighened up their criteria in recent months, i recently spoke to someone who was rejected as a result of a late credit card payment!
Any defaults will stay on your credit file for six years, do you know when the defaults are due to fall off your credit file?
PJG Recovery have a free online advice channel at www.debtadvicetv.com. If you are ready to ask us for specific advice or help, then get in touch at www.pjgrecovery.com/contact-us.asp . I look forward to speaking to you.
PJG Recovery have a free online advice channel at www.debtadvicetv.com. If you are ready to ask us for specific advice or help, then get in touch at www.pjgrecovery.com/contact-us.asp . I look forward to speaking to you.
The IVA was approved in March 2009 and the completion certificate was Oct 2009. Appreciate the six years ; so 2015.
Do you have any suggestions as to whether to stick it out with current lender till the Credit file is clean or do you know of a mortgage company which may be sympathetic.
You could always try Ryan he posts on the forum and I'm sure he'll give you some advice in the first instance as to the best thing to do.
His contact details can be found on the left in the Ask experts a Question Link. He's helped lots of posters but do understand if you just want to sit it out with your current provider. x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
PJG Recovery have a free online advice channel at www.debtadvicetv.com. If you are ready to ask us for specific advice or help, then get in touch at www.pjgrecovery.com/contact-us.asp . I look forward to speaking to you.
PJG Recovery have a free online advice channel at www.debtadvicetv.com. If you are ready to ask us for specific advice or help, then get in touch at www.pjgrecovery.com/contact-us.asp . I look forward to speaking to you.
I spoke to Ryan yesterday about my mortgage to see if there was a better deal out there....the advice i got was ensure credit file is as clean as it can be before seeking new options. He also confirmed that lenders had really tightened up in the last few months with bad debtors and therefore options were even more limited at the moment, but still not impossible.
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
That's the stumbling block if you show defaults satisfied or not won't make a jot of difference until their gone, you are basically stuffed.
There are brokers out there that can get subprime loans but you won't want to be doing that.. Even livivng in the wrong postcode can work against your CR's
To get High Street lending rates you CR must be clean and all trace of defaults and IVA gone, this will only happen after six years (statute) my advice don't go to previous lenders or apply for any credit until all three CR are clean and gone
I waited and on the axe of six years sanitised my CR's of all trace of IVA I get something like 982/1000 credit score and that happend overnight, (odd but true) that's the way it works
