Will I ever be considered a good risk again?

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rachel.d

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Post by rachel.d » Tue May 29, 2007 4:15 pm
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hello - I completed my IVA in August 2006 and just assumed that this would clear my name if you like financially and I would be able to get a morgage upon completion. (This was the advice I was given upon starting the IVA). Now i am approaching mortgage lenders I am finding that I am still being penalised for having an iva even though it is complete and paid up?? I have had no further financial problems since and i am terrfied that I will still no longer be able to get a mortgage at 'normal' rates. Will I ever be considered a good risk again?
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Adam Davies

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Post by Adam Davies » Tue May 29, 2007 4:18 pm
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Hi Rachel
Are you using a mortgage broker ??
Regards

Andy Davie
IVA.co.uk Spokesperson and site manager
(aka Neverending)

Please check out my blog: http://andydavie.blogs.iva.co.uk

View my profile here:
http://www.iva.co.uk/andy_davie_profile.asp
Andam Davies
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Oliver

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Post by Oliver » Tue May 29, 2007 4:18 pm
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Hi Rachel

Are you seeking assistance from a specialist mortgage broker? If you have been in an IVA sometimes you will find that the high street banks aren't willing to include you in their lending portfolio. This is nearly always resolved by dealing with a specialist mortgage broker.

Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp
Best Regards
Oliver
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saz

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Post by saz » Tue May 29, 2007 4:53 pm
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I was told that once the IVA is complete then it will remain on my file for a further year (6 in total) then after that i would be fine to get mortgage/other credit!! This might be happening to you as you only finish your IVA in August!! you might have to wait until August 2007 for be fully free!!

I'm no expert that's just what i was told, I'd like to hear answers from the experts.x

On the road to recovery IVA accepted
59months to go
Three cheers for IVA's
Wish I had done it sooner
23months to go
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Oliver

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Post by Oliver » Tue May 29, 2007 4:58 pm
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Becuase Mortgages are underwritten differently as they are secured loans you will be able to get a mortgage at any point whether it is during the IVA or after you have completed it. The key is speaking to a specialist lender.

Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp
Best Regards
Oliver
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