When could we apply for a mortgage?

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kelsus

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Post by kelsus » Mon Aug 13, 2018 5:19 am
Firstly let me start by saying this forum has been godsend and source of great information reading about people's experience. Up to now been a read only user but signed up for some advice.

So me and my wife completed our IVA last month following a long 7 years but it has been worthwhile experience and life lesson and we are better for it. As it started back in 2011 the impact on our credit record has been almost instantaneous with score being excellent to good across 3 main agencies presumably as it has been over 6 years since we started iva. The insolvency register has also been updeted with completion date however it still showing on their website 3 months from completion date. Our Clearscore report says an entry is due in next 10 days in relation to notification of iva completion but unsure whether it will actually show on report since at via started in 2011.

My question is when would be right time to apply for mortgages?

Our intention is to put our flat on market (we have quite a bit of equity) and use an all of market broker specifically someone who has experience in dealing with people who had difficulties in past. If anyone could share some recommendations that would be appreciated.

Many thanks in advance.

kelsus

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Joined: Sun Aug 12, 2018 6:42 pm

Post by kelsus » Mon Aug 13, 2018 6:33 am
Completed our IVA and now want to apply for mortgage

Ryan

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Post by Ryan » Mon Aug 13, 2018 7:05 am
Hi,

When did the IVA start?

Regards
Ryan Radford
IVA Mortgage Expert
Zebra Money Centre

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Ryan

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Post by Ryan » Mon Aug 13, 2018 7:07 am
I just replied on your other post - as it began over 7 years ago there are certainly High Street Lenders who would consider lending at this time. We have certainly managed to obtain Mortgages for many others in similar situations.

Regards
Ryan Radford
IVA Mortgage Expert
Zebra Money Centre

IVA Mortgage advice needed?

Contact me at http://www.ivamortgageexpert.co.uk or via the expert page

Foggy

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Post by Foggy » Mon Aug 13, 2018 7:49 am
Topics merged.
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

kelsus

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Joined: Sun Aug 12, 2018 6:42 pm

Post by kelsus » Mon Aug 13, 2018 9:35 am
Thanks for merging thread foggy and thank you for response Ryan will get in touch to discuss further.

joanna144

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Post by joanna144 » Mon Aug 13, 2018 10:18 am
I completed my IVA in August 2016. I was given a Mortgage by a high street bank last month.
It has been a struggle but finally I am seeing daylight. Once the IVA was finished I saved the IVA amount. I have 1 credit card from current account provider used only to get a better credit score. Anything I spend on it the money already has to be alloxated for.
The only thing I did not save for was my car.
Which I have a bank loan for.

Foggy

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Post by Foggy » Mon Aug 13, 2018 11:08 am
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 (in addition to Joanna, above) 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:

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
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