Will Virgin Money be able to see my IVA record after 3 years of completion?

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david581
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by david581 » Sat Jun 17, 2017 2:50 pm
My Iva has been completed for more than 3 years and off my credit files for experian and equifax. I have been accepted for a mortgage decision in principle by halifax. My questions is that so far through out this process i have told my broker i have never had an IVA as i thought that after 6 years i did not have to disclose it. The application is in the process of going through now and in full flow so will Virgin money who i have applied with be able to see my IVA?
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kallis3
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by kallis3 » Sat Jun 17, 2017 3:05 pm
Hi,

It should be clear of your record by now as long as your credit records are clear, however,if asked if you have ever been in an IVA you should be truthful otherwise it could come back and haunt you.
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Foggy
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by Foggy » Sat Jun 17, 2017 3:10 pm
In theory they wouldn't be ale to see the IVA on any live record, but I suspect they might have access to archival records -- the big alarm bell here being the fact that PPI claims companies seem to be able to go back beyond live records --- so why not any other finacial institution ?

As Kallis says, being dishonest about a past IVA might come back to haunt you.
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david581
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by david581 » Sun Jun 18, 2017 9:44 am
Thanks for the replies

When you say it may come back to haunt me when are we talking about?? Surely one and if i'm approved the banks will have done all there checks and will have no other way of finding this info if not found on my initial application.
Virgin are the only company who i can go with to get the mortgage i want and it says on there website if you have been in an IVA they can not help. So it makes no difference really as either way i may not get the house i want so i dont have anything to loose really!!
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kallis3
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by kallis3 » Sun Jun 18, 2017 9:55 am
Some companies go back years so it is always best to be honest.

Have you spoken to either Ryan or Shaun to see if they can assist?
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Foggy
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by Foggy » Sun Jun 18, 2017 9:56 am
Sometimes these things do come out of the woodwork -- if (a big IF) they do, you will have made a fraudulent application. Best case you get a slap and maybe an interest rate increase, worst case the house is repossessed and you get a fine and / or prison sentence. I believe one of the Industry Experts has experience of seeing someone dealt with by the courts for fraud. I, in a past life, have only seen one repossession as the fraudulent application came to light as a by product of a different investigation.
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david581
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by david581 » Sun Jun 18, 2017 10:39 am
thanks again

I get the point you are making but I would have to be the unluckiest guy in the world to get it approved and then for them to find out later that I have an IVA and to then send me to prison for not declaring it!! Especially when these IVA companies constantly tell you that your credit if fine after 6 years!

How do I speak to Ryan or Shaun please?
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Foggy
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by Foggy » Sun Jun 18, 2017 10:50 am
david581 wrote:
thanks again

I get the point you are making but I would have to be the unluckiest guy in the world to get it approved and then for them to find out later that I have an IVA and to then send me to prison for not declaring it!! Especially when these IVA companies constantly tell you that your credit if fine after 6 years!

How do I speak to Ryan or Shaun please?



You can find their details under the "Quick Links" tab (top left) then "The Team" on the drop down --- hang on I will get the link .........
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Foggy
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by Foggy » Sun Jun 18, 2017 10:51 am
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Ryan
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by Ryan » Mon Jun 19, 2017 7:26 am
David,

As others have said Lenders may have access to old information. Some Lenders may be willing to lend now though so if you were to contact us we would be happy to take a look at your situation.

Regards
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Michael Peoples
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by Michael Peoples » Mon Jun 19, 2017 8:34 am
I do think you should be careful as even if you do get the mortgage you could be constantly looking over your shoulder in case anything comes out. I know Shaun has managed to get high street mortgages for ex clients of ours and other firms so it is possible. Some mortgage companies ask have you ever been in an IVA whereas others will ask have you been discharged from one without x years. This allows you to answer truthfully so I hope there is something there for you.
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Ryan
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by Ryan » Mon Jun 19, 2017 8:44 am
We certainly have access to High Street Lenders who will look to lend normally 6 years after an IVA began.

Regards
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Lisa Thomas
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by Lisa Thomas » Mon Jun 19, 2017 8:49 am
If they have asked you the question of whether you have been in an IVA or had a payment plan with creditors and you've lied and put no then this is fraud and is why it could come back to haunt you.

If they have not asked that question then you have done nothing wrong.

The devil is in the detail.
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