Completion certificate received .. questions ?

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RunnerffirG

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Joined: Wed Jun 10, 2020 8:38 pm

Post by RunnerffirG » Thu Nov 26, 2020 8:31 pm
Hi all
I received my completion certificate today via email although full 6 years does not come to an end until Jan 2022
Please can anyone answer these couple of questions below
1. Am I now legally allowed to apply for credit without any comebacks ?
2. Would I be able to remortgage for a better rate before Jan 2022 ?
3. If yes to q1 any suggestions on how to start rebuilding credit?
4. Any further advice ?
Thanks
Lee

Foggy

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Location: United Kingdom

Post by Foggy » Thu Nov 26, 2020 8:40 pm
The 6 years is for removal from crtedit files, not the issue of the completion certificate -- this is issued whenever the IVA completes (sometimes early).

1. Am I now legally allowed to apply for credit without any comebacks ? Yes, as far as your IP is concerned he / she is no longer interested. However your credit rating is still shot for a while.

2. Would I be able to remortgage for a better rate before Jan 2022 ? Probably. The better the chance as your credit rating improves and, really, after the 6 year anniversary. Best to use an experienced broker such as Ryan or Shaun, who both post on here.

3. If yes to q1 any suggestions on how to start rebuilding credit? Slwly and surely -- but you need to wait for the IVA to clear your records ( 6 years from the start)

4. Any further advice ? Have a read here: https://www.iva.co.uk/what-does-an-iva- ... dit-record
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

RunnerffirG

Posts: 8
Joined: Wed Jun 10, 2020 8:38 pm

Post by RunnerffirG » Thu Nov 26, 2020 8:47 pm
Thank you, appreciate that
So basically can’t do anything until the 6 years is up in Jan 2022 would have liked to have been able to try and remortgage to bring the interest rate/payments down

Foggy

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Forum Expert
Posts: 32800
Joined: Fri Dec 17, 2010 11:14 am
Location: United Kingdom

Post by Foggy » Thu Nov 26, 2020 8:53 pm
There may be some lenders who will look at you, now that the arrangement has completed, but the rates will probably not be competitive.

Have a word with Ryan or Shaun. Their details can be found in their profile pages:

Ryan : memberlist.php?mode=viewprofile&u=18488

Shaun : memberlist.php?mode=viewprofile&u=22837

They have both helped many forum members.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

RunnerffirG

Posts: 8
Joined: Wed Jun 10, 2020 8:38 pm

Post by RunnerffirG » Thu Nov 26, 2020 11:17 pm
Ok will have a look thank you
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