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Buying new property. Should i tell the lender that we were on IVA before?

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Happy88
Posts: 61
Joined: Wed Jan 19, 2011 10:50 pm
by Happy88 » Tue May 09, 2017 7:59 am
Hi all,

We have finished our IVA last year and last months our credit reports have been updated, all bad debts has dropped off and me and my OH rating is now excellent. We own a flat and are thinking to sell and buy a bigger property.
My questions is because our credit reports has now been updated (6 years last month), do I need to tell the lender that we were on IVA before? Would they be able to check if we don't?
Thank you!
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Michael Peoples
Industry Expert
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Joined: Mon Nov 03, 2008 12:36 pm
by Michael Peoples » Tue May 09, 2017 8:02 am
You only need to answer what you are asked. Some lenders ask have you 'ever' been in an IVA whereas others ask have you been discharged within a set timescale. I suggest you consider using a specialist broker like Shaun Vickery from Select or Ryan who post here as they would know which lenders would be most suitable.
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kallis3
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Joined: Mon Mar 17, 2008 4:02 pm
by kallis3 » Tue May 09, 2017 8:04 am
I agree with Michael - unless asked then don't tell them and also agree you should speak to either Shaun or Ryan for mortgage advice. Both come highly recommended.
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Foggy
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by Foggy » Tue May 09, 2017 8:50 am
Agree with the above -- answer the question according to how it is asked. It is a needless risk to lie and not worth the sleepless nights. A good broker can be worth his weight in gold !
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Ryan
Industry Expert
Posts: 514
Joined: Thu Nov 03, 2011 10:03 pm
by Ryan » Tue May 09, 2017 9:52 am
We would be happy to look at your situation if you were to contact us.

Regards
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Happy88
Posts: 61
Joined: Wed Jan 19, 2011 10:50 pm
by Happy88 » Wed May 10, 2017 9:32 am
Hi all,

Thank you for all your input, much appreciated. I will contact Ryan soon. Do you have an email address Ryan?
How easy it is to get a bigger mortgage after IVA? We have a property to sell and there are some equity in the property for a deposit. Do you think we will be able to get into Help to buy scheme?
i feel really scared these days to do anything that involved getting our credit checked.
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kallis3
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Joined: Mon Mar 17, 2008 4:02 pm
by kallis3 » Wed May 10, 2017 10:04 am
Hi,
Contact Ryan via the link above and I am sure he will be able to help.
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luluj
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Joined: Sun Dec 09, 2007 6:54 am
by luluj » Wed May 10, 2017 2:56 pm
Ryan can be contacted here
http://www.ivamortgageexpert.co.uk or via the expert page
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