mortgage advice

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by Tony.w » Sun Sep 17, 2017 10:42 am
Hi guys I am after advice for a new mortgage after an IVA.

My Iva 6 years ends in April 2018 we have £42K deposit and are looking at buying through a specialist broker for around £215K @ 5% rate due to the IVA.

We are currently renting at £900 p/m so the logic is mortgage @ £1000 p/m although not ideal is still better than another wasted 8 months rent.

My question is if I take this type of mortgage out and want to re-mortgage to a better rate in 2 years would I be penalised as would it show that my mortgage is a specialist IVA mortgage and would this then re-strict my access to better deals in the future as I don't really want to sign up to a higher rate mortgage for too long just to enable us to get back on the property ladder.

Also after checking my credit file all of the 4 major credit agencies don't show my IVA only callcredit who have wrong info showing accounts in default etc and I am in the process of getting it amended, but why doesn't Equifax show my IVA it shows I have perfect credit which is wrong?

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by kallis3 » Sun Sep 17, 2017 11:21 am
Have a word with either Ryan or Shaun, both mortgage experts who post on here and who have helped several posters over the past few years. You will be better off waiting until you get that completetion letter.and drop off the Insolvency Register.
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by Foggy » Sun Sep 17, 2017 11:36 am
Ryan and Shaun's details can be found towards the bottom of the yellow section here:


Be careful with jumping in too early and remortgaging too often, as the costs could well outweigh any potential savings in the long run.
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by Ryan » Mon Sep 18, 2017 7:50 am
The information on all 3 credit reports can vary especially things like default dates.

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