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peter564

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Joined: Tue Jan 12, 2021 7:04 pm

Post by peter564 » Tue Jan 12, 2021 7:04 pm
Hi all,
I have completed a full and final IVA almost 4 years ago, still on my record for another couple of years however me and my wife are quite desperate to move. We are currently staying with parents and they are downsizing very soon.

Cutting the long story short, a broker we spoke to managed to get us a mortgage in principle however the interest rate is a whopping 8% + the broker fee is £2K + admin fees
We have a 100K deposit and a combined salary of 74K+4K Bonuses and looking for properties just below £425k
We are just thinking if it’s worth going direct to a bank, I know Metro and nationwide accept applications for a discharged IVA over 3 years.

Is there any other banks that any one is aware of that would also be suitable?
We are more than happy to use a broker who would help as long as they can assure they would be helpful (no disrespect to any brokers on here), but time is also a issue.

If anyone could help or put us on to the right path that would be fantastic.

Kind Regards

Foggy

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Joined: Fri Dec 17, 2010 11:14 am
Location: United Kingdom

Post by Foggy » Tue Jan 12, 2021 7:48 pm
I would suggest you chat with Ryan or Shaun ... both are experts in adverse credit applications and have placed many mortgages for us ex-IVA'ers, often at High Street Rates. Be wary of OIP -- these often fail at the last hurdle due to the broker not understanding the full implications of an IVA.

Ryan and Shaun can be contacted via the details on 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
http://foggy.blogs.iva.co.uk

abbiesmum2003

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Post by abbiesmum2003 » Tue Jan 12, 2021 11:31 pm
I higjly recommend one of the guys that Foggy has mentioned rather than going direct to a bank.
If uou do too many applications thats get refused your credit history will be shot-more than it is already with iva still on your record.
We used Select Partnership couple of yeara ago for our post iva mortgage and they were very good-great communication, high street mortgage, etc.
personally id go with a broker experienced with IVAs especialy as its still on your file.
Best of luck with it all.

peter874

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Joined: Wed Jan 13, 2021 7:41 am

Post by peter874 » Wed Jan 13, 2021 7:41 am
Hi all,
I have completed a full and final IVA almost 4 years ago, still on my record for another couple of years however me and my wife are quite desperate to move. We are currently staying with parents and they are downsizing very soon.

Cutting the long story short, a broker we spoke to managed to get us a mortgage in principle however the interest rate is a whopping 8% + the broker fee is £2K + admin fees
We have a 100K deposit and a combined salary of 74K+4K Bonuses and looking for properties just below £425k
We are just thinking if it’s worth going direct to a bank, I know Metro and nationwide accept applications for a discharged IVA over 3 years.

Is there any other banks that any one is aware of that would also be suitable?
We are more than happy to use a broker who would help as long as they can assure they would be helpful (no disrespect to any brokers on here), but time is also a issue.

If anyone could help or put us on to the right path that would be fantastic.

Kind Regards

Foggy

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Forum Expert
Posts: 32774
Joined: Fri Dec 17, 2010 11:14 am
Location: United Kingdom

Post by Foggy » Wed Jan 13, 2021 8:39 am
Topics mergd.

BTW --- Select is Shaun and Ryan is Zebra.
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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