Advice re mortgage following IVA

BertrumB

Hi all

Im hoping for a few pointers on the possibility of getting a new mortgage for a house move.

My husband had an IVA, his 6 years are up and it has just 'fallen off' his experian file. He now has a Vanquis card to build up his credit file.

We would like to move - purchase price around £175000, we have equity of around £30000, he earns £24000, I earn £10000 and another £3500 in maintanence if this is ever counted.

How do we go about this? Ive sort of picked up that we would be better using a broker... how do I find one (just google 'broker' ?? lol), would we still be classed as high risk? Would we need a broker who specialises in bad debt??

Hope someone can advise, thanks.

Dave_Ham

Tricky, but just about achievable.

You may get lucky with a random broker, although I would be looking for personal recommendations. I would then ask the broker how confident they are, do they undertake many adverse credit mortgages.

If they are hesitant get another, as you will require a decent broker and expect to pay a fee too as doubt the fee free ones will be able to place this.

All the best

ijustwant

any luck on this?

ijustwant

i have been told they do other checks as well credit reports?

Think someone said there is a solictor or arrangment to pay register? is this true that they check back further than 6 yrs?

in similar situaution

Dave_Ham

ijustwant wrote: »

i have been told they do other checks as well credit reports?

Think someone said there is a solictor or arrangment to pay register? is this true that they check back further than 6 yrs?

in similar situaution

Firstly, in this situation always get your Experian, Call Credit and Equifax reports.

Furthermore, this is not to check that the IVA does not show on there; as clearly lenders have access to this information further down the line and at a point that would be costly. This is moreover to check that no anomalies have cropped on there from a debt agency or something aside from the IVA.

There are lenders subject to circumstances that will lend to ex IVA clients, although they all have weird and wonderful criteria and always best to get a professional on the case.

Good luck