IVA marker on credit file.

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stewpots
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by stewpots » Wed May 02, 2018 2:28 pm
I have been turned down for a mortgage very late and for two reasons one of the reasons, the IVA marker is still on the credit file.

The IVA was taken out July 2010 and I completed it in 2012 . Why would it still be there ?, should it not have gone by now , its 8 yrs after it was taken out and 6 years ago it was completed.

Its says on my file ...

""""IVA DATED 02/07/2010 WAS REMOVED FROM THE INSOLVENCY SERVICE RECORDS ON 01/02/2013. ADDED BY IVABKYLD ON
01/02/2013"""

Any help appreciated
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Ryan
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by Ryan » Wed May 02, 2018 2:39 pm
You would need to contact the Credit Reference Agencies and provide a copy of the Completion Certificate and they will remove it for you.

Regards
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Foggy
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by Foggy » Wed May 02, 2018 2:48 pm
That looks like a Notice of Correction --- some CRA's put these on to emphasise that the IVA was completed within the 6 year period -- but it does not drop off at the 6 year mark and has to be removed manually. A request to the CRA involved will do it .... check all three, just in case.
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stewpots
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by stewpots » Thu May 03, 2018 9:56 am
Many thanks all I need now is find now is my completion certificate sent 6 years ago
Can I request a copy it , if I can’t find it.

I have a letter on formal paper in 2012 confirming it had ended but that was for work purposes would that be ok for the credit agency ??

Also is there a good place to ask is there a mortgage advisor who dealt with things like this ?


Basically, my advisor was rubbish had mortgage agreed in principle then mortgage company came back and wanted more deposit and reduced repayment terms. I had my solicitors involved re house then
As another company had turned me down the mortgage advisor asked for my full credit file ie as to why they had changed their terms , which I sent. They then said they spotted a IVA marker and will make sure the mortgage company offering revised terms were aware of that
The thing is the revised terms were offered after that company had done their credit search (I can see that on the file), it looks like my mortgage advisor has told them to check for the third time or told them there is a IVA marker there. ??
Could I get my 299 booking fee back ??
This marker is on Equifax I didn’t see it on the others
Do mortgage companies see the full credit files like I do and look for markers its on page 15
I had no issue getting credit cards (just two) in pass two years and small loan, all of this was post 2016 ie 6yrs after IVA taken out.
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Ryan
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by Ryan » Thu May 03, 2018 9:59 am
That's sad to hear but not uncommon unfortunately. We specialise in obtaining Mortgages for Clients following IVAs and would be happy to discuss your situation if you were to contact us.

Regards
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stewpots
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by stewpots » Thu May 03, 2018 11:06 am
I now understand the mortgage advisor did disclose what they saw on the credit file and said they were duty bound to disclose it to the lender

What if i had never sent the credit file to the mortgage advisor ?

Do they have to do that ??

Obviously the lender dont appear to have been concerned initiallty
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Foggy
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by Foggy » Thu May 03, 2018 11:26 am
If it is a Notice of Correction the CRA will not normally need sight of a completion certificate to remove it.
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stewpots
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by stewpots » Thu May 03, 2018 3:23 pm
Foggy wrote:
If it is a Notice of Correction the CRA will not normally need sight of a completion certificate to remove it.


Many thanks

I assume getting by booking fee back is non starter

Do they have a legal right to disclose private information on my credit file to the mortgage company without my agreement ?
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Shaun Vickery
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by Shaun Vickery » Thu May 03, 2018 4:10 pm
Hi Stewpots. It doesn't sounds as though the Mortgage Adviser you went to has done a very good job at all. You may be able to argue that you wouldn't have paid the booking fee if they had. They may not be a specialist in this area but they should do their groundwork first (including checking your creditfile) and ensure that you meet the lending criteria. Of course it's up to you whether you wish to pursue that issue.

In terms of whether they have to disclose that information to a lender the answer is yes, or risk losing their FCA permission and/or facility with the lender.

I would not recommend making an application to a lender and not disclosing the IVA - at some point you will be asked the question, but if you refer to an appropriately experienced specialist they may be able to assist you without needing to.
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