Disclosing a previous IVA

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paige504

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Post by paige504 » Tue Jan 28, 2020 8:00 pm
hello, my partner was in an IVA which finished April 2018, we are in process of applying for a mortgage, and this has now dropped completely off his credit file, and he has spent 2 years building that file back up, will he need to tell the lender he did have an IVA a few years ago?

kallis3

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Post by kallis3 » Tue Jan 28, 2020 8:09 pm
Depends on whether they ask if you have ever been in an IVA.
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Foggy

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Post by Foggy » Tue Jan 28, 2020 9:05 pm
They ask the question in various ways: Are you in an IVA - NO. Have you startedf an IVA in the last 6 years - NO. Have you ever been in an IVA -- YES

Then comes the issue that some lenders will lend anyway, after 6 years from the start, some 3 or 6 years from the end, some never.

I would suggest a chat with Ryan and / or Shaun who are both whole of market brokers who have, between them, helped many with an IVA in their past.

Contact details can be gleaned from their profile pages:
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
http://foggy.blogs.iva.co.uk

luluj

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Post by luluj » Wed Jan 29, 2020 2:32 am
Totally agree with foggy ... its all in how the question is asked.

Ryan and or Shaun are a great starting point to seek help.
Sharing from experiences of dealing with debt

There is a solution for everyone .... Just need to stay positive !

Look at my blog "All I wanted was a baby"

paige504

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Post by paige504 » Wed Jan 29, 2020 8:06 am
Does anyone know if pepper money as the question? From their application form I cant see it

Foggy

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Post by Foggy » Wed Jan 29, 2020 8:40 am
Wed Jan 29, 2020 8:06 ampaige504 wrote:
Does anyone know if pepper money as the question? From their application form I cant see it
Some don't ask at the offer in principle stage, but only when and if the application proceeds. They are a specialist lender so, I imagine, will not be surprised. Could I ask what sort of rate they are quoting ?
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
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