Re-Mortgage

beautiful-dreamer

Hi

My fixed rate mortgage is coming to an end very soon. Me and my husband have a bad credit history due to having had an IVA, due to past debt problems. The IVA completed 3 years ago but we still have problems getting credit, even though we are back on an even keel.

Our mortgage rate was about 7.5% but we have just had a letter saying that it will be going up to 9%. :eek:

Could anyone give me any advice on where i could get a mortgage with a reasonable rate please? It seems to be a minefield of information on the internet and i can't seem to get my head round it all.

Thank you in advance for any information that you can give me, it will be much appreciated

Thanks

Qual123

if your looking to go high street i think Abbey would be your only chance, as long as you have been good for 3 years since your IVA they will look at it. Ive just had a case for a discharged bankrupt accepted. they were only discharged 18 months ago and Abbey were ok with that.

beautiful-dreamer

Hi

Thanks for the info, i'll check them out

_Andy_

Hi

What's the property value and how much do you need to borrow?

beautiful-dreamer

Hi

Property is worth about 97k, need to borrow 54k

thanks

doelani

beautiful-dreamer wrote: »

Hi

The IVA completed 3 years ago but we still have problems getting credit, even though we are back on an even keel.

Your IVA should stay on your credit reference file for 6 years from IVA was agreed, when did you enter it ? Might be an idea to check and make sure al your debts have been marked as satisfied and that the date of your defaults are no later than the date of the creditors meeting.

Have you spoken to an Independant Mortgage Broker who can check all lenders. Hope you get sorted soon.

beautiful-dreamer

Hi

We entered the IVA in 2001, biggest mistake ever. Ended up having to remortgage to pay it off and ended up paying back more than we owed!!

I checked my credit report and it showed as clear, my husband needs to check his now to make sure it is up to date.

My credit rating must have improved because i have now been updated to a visa debit card from electron.

Thanks

doelani

beautiful-dreamer wrote: »

Hi

We entered the IVA in 2001, biggest mistake ever. Ended up having to remortgage to pay it off and ended up paying back more than we owed!!

I checked my credit report and it showed as clear, my husband needs to check his now to make sure it is up to date.

My credit rating must have improved because i have now been updated to a visa debit card from electron.

Thanks

yes good idea to check husband, hope you get sorted.

uncommonadvice

You need to talk to an independent broker asap but be prepared for the deals on the open market being greater than 9%

beautiful-dreamer

Thanks for all the advice guys, it's appreciated

Toughluck

I think as Qual123 said Abbey are flexible on low LTV, full status cases with historical adverse. As the loan to value is under 75% (and no defaults, CCJ's or mortgage arrears in the last 2 years) I would certainly punt you their way.