IVA completed which bank/building society will accept me?

didaiva

I'm looking for a bank that will accept me for a mortgage.

I have completed IVA, no longer on my credit file. All data clear.

They all ask about previously being in a IVA. I'm having problems finding one that does not ask this question.

Is there any bank/building society that will consider me? Is there any bank or building society that does not ask this question? If so which one?

opinions4u

How much are you looking to buy a property for?

How much deposit have you managed to save?

ACG

I think they will all ask the question.

When was the IVA completed?

To be honest a fair bit of extra info is needed. There will be lenders willing to accept you in principle but i would suggest you speak to an advisor due to the extra info that is required.

Halifax accept ex bankrupts as soon as they come out of bankruptcy so long as they pass a credit score, an IVA isnt as bad as bankruptcy so there will definately be lenders (dont presume im saying go with halifax, its just an example).

didaiva

The IVA was completed last year. Current salary is circa 30K and I've been in my current job 13 years.

Halifax was an ex-creditor, so doubt they would be interested. I will have £25K available as a deposit for properties around £100K

So looking to borrow between 75-80% LTV.

My current bank is Lloyds TSB but concerned about the Halifax link with them. I have no other debts and looking to buy on my own salary alone.

Dave_Ham

Clearly you have done your homework as Halifax would have been a logical solution, although they are moving to a new system similar to Lloyds and hopeful they will not change this - your point about ex creditor is spot on as they will use this.

Would suggest you are on the right tracks with a Building Society, they are incredibly slow at processing currently and I mean incredibly slow...

Get some tailored advice though please, as dealing with Building Societies do have costs to underwrite in some cases successful or not...

You will get a mortgage given the information provided.

Also ensure you check all date removed from all 3 cra's including call credit as a few building societies do use them...

didaiva

Dave_Ham wrote: »

Halifax would have been a logical solution, although they are moving to a new system similar to Lloyds and hopeful they will not change this

Why's that, would it make any difference? Are Lloyds even a possibility now or later?

Dave_Ham wrote: »

Would suggest you are on the right tracks with a Building Society, they are incredibly slow at processing currently and I mean incredibly slow...

I was looking into the Nationwide, but apparently they too ask about being in a IVA previously.

Dave_Ham wrote: »

You will get a mortgage given the information provided.

I hope so :-)

Dave_Ham wrote: »

Also ensure you check all date removed from all 3 cra's including call credit as a few building societies do use them...

I have checked all 3 Credit Reference Agencies, they are all nice and green now.

Thrugelmir

Details of all IVA's are kept on the Insolvency Register so you will need to declare yours. The question is a standard one from all lenders.

didaiva

Details on the insolvency register were deleted over a year ago, I checked that too.

Thrugelmir

Did your IVA start more 6 years ago?

didaiva

Yes it started more than 6 years ago.

didaiva

I just been nosing at a few building societies Coventry, say they may consider me but it has to have been completed / discharged for 6 years. Going to have to wait just under 5 years if that's the case.