kate773 wrote:Hi There, Our IVA is in its final equity year and due to complete in October 2018. Our plan is to move home into a bigger property with a LTV 60% approx, no later than 2020 as I complete my degree June 2019. My husband has a very good income and hopefully I should have a reasonable one. Any advice in repairing our credit file in preparation to move would be wonderful. I have read through few policies on high street banks and so far come across x3 banks that might consider someone post IVA.
Hi .. have a read here regarding file repair: https://www.iva.co.uk/what-does-an-iva- ... dit-record
If the IVA started in October 2012 the clearing process should start soon after you get the completion certificate (which can take a few months!). The defaults, if correctly dated, will also start dropping off in October. So, you should have a clear run once you have completed your degree.
I would be wary of approaching High Street lenders directly as, despite their published
policies, the way they treat IVA's varies (indeed, sometimes from branch to branch of the same lender!). We have had at least one former poster who has actually done this and was lucky on his first attempt (if you get refusals, they stain the credit record and make following applications difficult). We have also had a few, who have gone direct, get agreements in principle to a mortgage, only to be turned down when the house purchase was actually underway!
I would advise that you chat to a whole of market broker with specific experience in adverse credit. We do have a couple who post on here; Ryan and Shaun. Their contact details are here: