Just read the halifax mortgage thread, and thought this might be useful information for someone out there...
When our fixed rate was coming to an end I rang the mortgage company to ask about further deals and didnt mention the fact that we are in an IVA.
It seems that a lot of the mortgage companies (if you've been paying on time and have a good track record with them) dont go through all the credit rating / searches etc. (Our IP had written to them, so they must have it on record somewhere!)
We got a good rate at the time which will end in December.
So my advice is ring up your company and dont mention the IVA unless they do.
Your mortgage company will know about the IVA as the IP has to let them know about it.
Although some may be ok, others won't. Mine wrote and told me that we were bankrupt, even though we're not. I doubt we will get anything from them when the time comes.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
This should be the case Jan, Ip's do write to the mortgage companies to tell them of the IVA, and no doubt it will be recorded in file somewhere, but I was just highlighting that in some cases this doesnt stand out and it is possible to obtain another good fixed rate with the same lender by simply ringing their call centre and asking them about new fixed deals when yours ends - all without you willingly reminding them about your IVA. Its just being economical with the facts.
If you rang them up and start off by saying " can i have a new fixed rate but I'm in an IVA..." they will probably say..... NO!
I can see what you're saying flowerpot, just the other day I wanted to purchase some boots for my daughter, went through the process and it came up with account opened with £100 credit limit! That's not what I wanted at all, they'd obviously not credit checked me!
I didn't ask for a new fixed rate I reverted back to SVR but worth asking about a new rate as you're proof they may help but if they say no we've lost nothing either. x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
Its a case of nothing to loose by asking and being careful how you ask and what information you offer.
When we got out rate re-fixed during our IVA they didnt credit check us because we had good payment history. Its worth asking if you have to 're-apply' because so long as you've been good, they will usually just switch you to another product without all the fuss of a full application.
Our problem now is that our mortgage company is also bankrupt! (B&B) and offer nothing but the SVR which will apply to us from January 2010!
I'm afraid it is, my hubby reliably informs me his drill is on its way out and without a drill there is no work....around £350 for a new one, this ones last 3 years so it's not done bad. This morning the fridge decided to pack in, that was secondhand from my daughter so doesn't owe me nothing but what to do?? Both equally important in their own right...
Melanie if you're looking in I may have to bother you about the drill a little later on. xx
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
I've never had a fixed rate mortgage, always been SVR.
Lesley, I hope you get things sorted with the drill.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Lesley where in the country do you live, I'm not far from helen are you near her. And what type of drill is it, I might know of somewhere that you will be able to get one, esp as this company is getting rid. The only downfall is that they are 110v so would need a transformer.
The company is literally going to throw them in the skip and everything works. Total waste, but their boys won't use because of the power thing.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk