Turned down for remortgage because of IVA

Pinkjoey

Hello, I hoping someone can help me...I currently have a mortgage with TMB but I want to remortgage for home improvement purposes. I have checked & can more than afford it, my credit rating is sitting in the 'excellent' category and I have over £80K equity in the house and want to borrow £25K. I did my homework & thought Nationwide was a good option. I applied online but a referral was made...I had an IVA between 2006 & 2011 & it was successfully completed on time...due to a backlog with Grant Thornton it only went through the courts in Sept 2012...Nationwide have basically said I don't fit the criteria as I have to have been officially discharged for 12 months or more!!

Are all lenders the same? How do I find out before I waste my time completely?! I didn't go through I broker as I know too many people who have had bad experiences and nobody could recommend one.

Any help would be appreciated on this

Thanks

Dave_Ham

This is possible for sure subject to income/employment etc. although you are likely to need a good broker.

Your current account and credit line needs to be good as likely your case will need to be manually underwritten by a Building Society, which is where you are likely to end up.

Good luck