1st Time Morgage wanted for ex- iva

Ex_debtor

Hi everyone,

I am after a bit of advice.

I was discharged from my iva in August 08 and have been debt free since that date. My Credit rating is climbing as a result of info on this forum. Thanks guys.

I now find myself wanting that 1st Time mortgage. I contacted a Financial advisor over the phone and they didnt want to know as I HAD an IVA. They said it was difficult as I need to have been away and clear of debt for 4 years after discharge.

Does anyone have any ideas? I have an appointment with the bank on Monday (7th March 2010). I am hoping that the bank doesnt say the same for the sake of my family etc.

I am ex-military and have tried the RAF Benevolent Fund (Only for advice).

Am I wasting my time? Can someone offer any valuable constructive advice.

Many thanks

Ex_Debtor

poppy10_2

How much of a deposit do you have saved up?

Ex_debtor

Thanks Poppy. I have 20% saved.

Ex_debtor

Guys whats best please?

Using a broker or a Bank?

I spoke to a bank today so they will let me know by Weds this week. The truth is that I expect to get turned down but the kind lady who interviewed us offered to ask the advice of her department as to what I could further do to improve my chances.

Any advice as we would appreciate it. Thank you.

Ex_debtor

Is there anybody out there that can advise me please? Please? Please?

1.I have asked SSAFA a Military advice line for their kind advise - Have not replied to my emails (I have checked spam etc btw).

2. I have also contacted Homes for Heroes twice - No reply yet, and always hopeful.

3. Bank update : Their advice is I need 4 clear years after my IVA, and THEN they MIGHT consider me? (This was Lloyds TSB). I had to chase them for an aswer as the girl who promised to get back to us forgot???? to get back to us. They also said I need at least 25% Deposit!.

I am begining to feel now that I its Me against the World, I feel in a worse state than when I had debt. (I honestly have NO debt). Its dragging me down and I feel absolutely helpless and feel I am depriving my family of a home.

I live in hope.

:j I await anyone with useful information please and hope someone can offer me advice. Many thanks.

ViolaLass

Ex_debtor wrote: »

I am begining to feel now that I its Me against the World, I feel in a worse state than when I had debt...I feel absolutely helpless and feel I am depriving my family of a home.

If you can't buy, can't you rent? I understand that buying is nice if you can afford it, but there are other ways of providing your family with a home.

Ex_debtor

Many thanks for replying ViolaLass,

I am currently renting. The house we live in is the one we want to buy. It was originally up for sale and we persuaded the owners to rent to us........we are fast approaching the end of the loan period in Dec 11. We have first refusal to buy so it all sounds a dream........