I need a mortgage is it impossible

nmd30

Hi All,

I need some good advice because I`m Having trouble finding a mortgage. I Have found a property pass the dip did the full application declined. I`m probably going to loose the property I am interested in.

I need to know which lenders/brokers(north east area) will lend to an ex iva which finished 35 months ago. My credit files are all up to date iva not showing credit cards all green which I pay off every month. I have 15% deposit.

I would like to know if am I just wasting my time and should just give up trying to get on the ladder or will it be ever be possible to get a mortgage.

ACG

I think 15% and 3 years ago is your stumbling block.

20%-25% i think there may be ways and means but im not so sure at 15%. Dont hold me to that as i have never been in the position to have to research it. Either way, i would imagine you will need a broker to get access to the lenders who will look at your situation.

I think getting your credit reports and booking an appointment with a broker who is happy to look at adverse should be your next step.

kingstreet

Passed the "DIP" with Halifax, then declined at full application, I suspect?

Halifax criteria is clear;-

We do not accept applications from customers who have ever been declared bankrupt or have made an IVA with creditors.

The soft search gives a false sense of optimism.

Dave_Ham

I would not give up just yet.

Who declined you after AIP, is Kingstreet correct with Halifax?

When did you start the IVA?

As suggested, get your credit files and get to a decent broker pronto. If it was the Estate Agent advisor I assume they would have already flagged the issue and are probably re-marketing already...

Good luck

nmd30

Hi
It was principality in the dip they asked if I ever had iva. which i answered correctly then dip was approved and credit search carried out. Then on full application failed although they don`t give a reason why it failed i am assuming its because of the past iva. Does anybody know if aldemore are worth a try.

kingstreet

Principality?

Thought they did a full search?

You need to establish if the IVA was the reason for the decline. If you go elsewhere, you may find you are declined again for the same thing, but it isn't something you know about.

Any other recent applications?

nmd30

My iva started in 2005 finished in 2010 I have check all 3 credit files none show my iva. all credit cards are green. Would linked address do harm to my file. I did apply to nationwide i did not even pass the dip. I want to lend 53500 i only earn 18000 pa

Dave_Ham

Hopefully you have been running some credit lines post IVA, although I still fancy there may be a lender that can help subject to the detail of course.

Good luck

nmd30

The problem is that I don`t know which lenders to try without doing further damage to my credit files. Finding a good broker in the northeast is really difficult would not know where to start.

Dave_Ham

You will need a specialist broker for sure and you have done the correct thing declaring the IVA, as this will save you grief and false hope further down the line.

Ensure you get the credit files as suggested though, as any decent broker is going to ask for them and they can take a few days to turn up.

nmd30

Any good specialist brokers out there want a challenge?.