Lloyds TSB New mortgage application after IVA

didaiva

Last year I completed a 5 year IVA. The IVA has now been removed from the Credit Agencies earlier this year. I now have clean credit files at all three credit agencies.

I am thinking about applying for a mortgage with Lloyds TSB as a first time buyer.

However I did have a loan and credit card with Halifax, who subsequently sold the debts onto Max Recovery during the IVA.

I'm wondering if there is going to be a record of this now Halifax is part of Lloyds Banking Group and will this stop me getting a mortgage with Lloyds TSB / Cheltenham & Gloucester.

Halifax at the time was a separate bank but now they have joined forces I'm not sure I'm going to be successful now. I have a clean record with Lloyds TSB however.

Has anyone been in this situation, and can anyone advise how they got on. Also do they ask the dreaded question about ever entering an arrangement on their application form thus hiking the interest rate up, or do they qualify it by a certain timeframe. I cannot find a paper version of the mortgage application on lloyds tsb website only the electronic application which I don't want to fill out if I'm not going to be accepted or even considered based on previous completed IVA.

Simon_gloster

Re your last point, yes they do ask have you ever been in arrears, made arrangements or been bankrupt. Answering yes generally declines the application.

If you have at least a 30% deposit and been clean since the iva, its worth a punt. When isay clean, I mean clean. Not a late payment since the iva.

Good luck.

didaiva

Thanks for replying.

I am aware that they ask the question in some way and I know that buy to let is different but I came across this form which you can safely answer NO to

http://www.moneyexpert.com/apply/mortgageprequal.aspx?producttypeid=6&productid=224416

The question being "In the last 12 months have you had any CCJs or IVA's, declared bankruptcy or missed any repayments?"

What I wanted to know was if Lloyds, who use Cheltenham and Gloucester use the word "ever" as opposed to the above when applying.

Yes my credit files are all clean now, not so much as a missed payment. I'm thinking more along the lines of 75% LTV max. But fear they have records via "The Halifax" who joined with LBG afterwards affecting my application.

Foxy-Stoat_3

I would contact a whole of market broker who has actually sold a mortgage for people with recent IVA and don't go direct to any high street bank or building society.

We went to Halifax - computer says no...

Went to a broker and arranged it with Halifax and computer say yes !!

Filled in the application 100% truthfully too.

didaiva

So what changed then?

What did the broker do to get the application accepted by Halifax that you did not do the first time round?

I'm not sure about going to Halifax as they were part of my IVA and fear they will decline me. Lloyds TSB however have been my bankers throughout the IVA and have been a good bank so really want to give them my business. But again similar fears, that cause Halifax are now part of them it'll get rejected.

Foxy-Stoat_3

No idea, I think I was speaking to an idiot in the branch with a screen in front of them rather than an underwriter that deals with brokers and looks at the risk.

If they were part of the IVA or not, I doubt it will make much difference but good luck with whatever you do.