Decision in principle

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AL28

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Post by AL28 » Tue Sep 17, 2019 10:21 am
Hi all,
Would I be able to get a decision in principle while still on iva register. Drops off 25/9/2019. My Iva And defaults etc are all erased from my credit files so just waiting for this. I know you’ll say wait 8 days and then apply it’s just I’m getting squeaky bum syndrome about a new build I want to reserve and it might be gone!

Foggy

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Post by Foggy » Tue Sep 17, 2019 10:35 am
It might be possible -- depending on the prospective lender, but, having seen DIPs reversed on the full application, I would tread carefully.

Have a word with Ryan and / or Shaun, who are both whole of market brokers with experience in adverse credit applications. Their details can be gleaned from their profile pages here:

Ryan: memberlist.php?mode=viewprofile&u=18488
Shaun: memberlist.php?mode=viewprofile&u=22837
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014

Shaun Vickery

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Post by Shaun Vickery » Thu Sep 19, 2019 9:09 am
A decision in principle would normally only be possible before the IVA is off of your credit file with a lender who would accept the IVA on it - which is likely to mean a higher rate. As Foggy says, a decision in principle is just that and isn't guaranteed ....so the question is probably only a technical one in any event. You really need to get yourself in a position that you are comfortable enough to pay a deposit....which would probably need more discussion to investigate the options and agree a path that is both practical and you are happy with. Any competent specialist mortgage adviser will be able to help you do do this. I'd certainly be very careful about just making random applications to lenders though.
Specialist Mortgage Advisers. Highly Commended at the British Mortgage Awards.

For individual, confidential mortgage advice see my details under the IVA Experts or go to http://clients.theselectpartnership.co.uk/

Ryan

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Post by Ryan » Fri Sep 20, 2019 8:42 am
Hi,
You could easily get a decision in principle with a lender who will accept the IVA today, just make sure this is with a lender who only does a soft search, you can then re-apply on 26th to another company who will offer better rates, and nothing will have caused you an issue, but at least you get to reserve the plot!
Happy to help if you need
Ryan Radford
IVA Mortgage Expert
Zebra Money Centre

IVA Mortgage advice needed? Looking at Right to Buy and completed IVA still on credit files ?

Contact me at http://www.ivamortgageexpert.co.uk or via the expert page
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