Mortgage Post I.V.A

b3ckford

Hi all, wonder if I could have your input,

finished my I.V.A in dec 2010 so in dec 2011 it will fall of my credit files along with the 4 defaults.

Looking at all 3 credit ref agencies, I still have good credit history on there which will stay on until 2014 ish

Included a current Vanquish CC which I obtained in may this year, a RBS CC which was settled, O2 mobile contract, which is still ongoing and all green, settled carphone warehouse, Vodafone contracts as well as a Santander current around which is all ongoing and green

I’m on the electoral register

One search which was from Vanquish which I’m now a card holder of.


In January, I will be looking at attempting to secure a mortgage with my girlfriend

I earn £16,000 my girlfriend £21,000, we have a joint deposit of £45,000 excluding money for fees which we have money separate for

My GF has Excellent History

We currently have no debt, I have DD with sky, virgin (which we will share) GYM, Mobile, spotify subscription.


Where at the moment just glancing at houses for around £150,000

Am I still dreaming at a January date?

Thanks for all input

b3ckford

Any input off Anyone?

kingstreet

You won't have a problem getting a mortgage.

It may be worth avoiding the cherry-pickers like HSBC and meeting an independent or whole market broker to make sure you get the right lender straight away.

b3ckford

Thanks for the reply I take it I have to declare I was in a IVA? Even though it's off my reports? How do I go about as to look for a whole of Market broker. are they in astate agents? I take it the interest rate will be sky high even though we have in my eyes a big deposit?

kingstreet

You answer the question you are asked honestly and completely.

Halifax, for example, asks no questions about your credit history. It uses its internal system to identify credit problems. Other lenders may ask "have you ever defaulted on a credit agreement, had a county court judgment or IVA?" and obviously you'd answer that question as you should.

You can find independent and whole market brokers here;-

https://www.unbiased.co.uk

click on mortgage advice and add your postcode. Switch off the big ads only and you'll get a list of brokers in your area.

Whole of market brokers will only recommend products which pay them a commission and they may charge a fee on top. Independents will source from all lenders, even ones who don't pay a commission. You pay a fee for this service, but any commission which may be payable will be rebated back to you.

Estate agent advisers, particularly the big national chains, operate from a small panel of lenders, won't offer direct deals, receive commission and may still charge you a fee. What you might call the worst of all possible options for you.

I don't see the rate being sky-high. You may not qualify for the best deals in the market, but the best deal for your individual circumstances may not be that much worse.

b3ckford

Thanks for all your help. Much appreciated!