Mortgage with previous IVA (more than 6 yrs ago)?

notmyrealusername

I was previously in an IVA from September 2006 to September 2009. It was concluded early by way of a full and final settlement. I fully appreciate that it would be difficult if not impossible to get a mortgage with the IVA, albeit completed, still on my record. I had hoped that after 6 years when the IVA and all defaults have dropped off my credit report that I would be in a reasonable position but having read a few posts on here recently it seems this may not be the case?

I am saving for a deposit and have 2 x credit cards (both with 2k limits) that were taken out after the IVA concluded are used regularly but ALWAYS paid of in full, the lesson has been well and truly learned about credit.

So, in late 2012 I will have:

No IVA or defaults on my file, no debt, positive credit history from the last 3 years (bank account never overdrawn, 2 x credit cards, 1 x store card, mobile contract) and hopefully a deposit although it is only likely to be a 10% deposit.

Obviously nobody has a crystal ball but going on todays experiences am I likely to be considered for a mortage at a reasonable rate once the IVA is completely off my file or does the fact that I have previously been in an IVA go against me regardless of how long ago it was? Do mortgage applications ask if you have ever entered into an IVA (I know they ask about bankruptcy)?

Would be grateful for any input

CloudCuckooLand

If the IVA lasted until 2009, how will it be more than 6 years ago in 2012..?

notmyrealusername

CloudCuckooLand wrote: »

If the IVA lasted until 2009, how will it be more than 6 years ago in 2012..?

Thanks for the reply, as per my first post the IVA began in 2006 and was concluded early by way of a full & final 3 years later in 2009.

By late 2012 it will have fallen from my credit file as the IVA falls off 6 years from the date it began, not from the date it ended.

Burridge60

Get your credit file first and see for yourself.

There are lenders out there that would do it but don't expect them to be High Street names or the cheapest on the best buy tables.

Re read

Saw you had the file. Please don't go mad with the big names. They will score you and leave their marks and probably decline even though they could know this from their own rules and criteria.

notmyrealusername

Burridge60 wrote: »

Get your credit file first and see for yourself.

There are lenders out there that would do it but don't expect them to be High Street names or the cheapest on the best buy tables.

Thanks, I do have copies of my credit file and the completed IVA is still showing (as expected) - I have no intention of applying for a mortgage until a) the IVA is off my file and b) I have saved a deposit.

My query was really whether once the IVA is no longer on the credit file will I be in the position to get 'normal' rates or will the very fact that I have previously had an IVA (although 6 years will have passed so it will no longer be on my file) hinder my chances?