Life after an IVA

charliebear1992

I am now 3 years clear after completing my IVA. What I am looking for is what is best to upgrade my credit file and also what are the chances of a mortgage with my husband. We were not married at the time I had my IVA so all in my maiden name & different address, now we want to move to a new property & just looking for things to help us achieve this. Are there any lenders out there that will take me into consideration as I have remained debt free for the past 3 years and jointly we pay our current mortgage (though not in my name) and all our bills. Any guidance will be greatly appreciated. Thanks

cheesedoffwithdebt

I am sure others will come along who know more than me, but my understanding is that to start putting your credit file in order, you need to show evidence of using credit successfully-this in my view is the big flaw in the credit scoring system because it relies on people keeping up repayments, there is no looking at whether things are affordable.

To do this, what I am intending to do is take out a credit card, have a very small limit, borrow during the month and pay it all back. If you are just doing this to get a better score I'd spend a fiver every month, pay it back on time, you get no interest and your positive credit file starts to rebuild.

As I say, there are some people on here with professional rather than Lay knowledge on this but as far as I know, thats the only way to build a positive credit score.

Anondebtadvisor

The IVA will show for 6 years from the start of the IVA, i suggest credit checking yourself to make sure the IVA is no longer showing and any defaults have fallen off the credit file before you make a mortgage application and then you should not have any problems.

If you make an application and then it is declined because there is an outstanding item on your credit file, this will affect your chances as this will leave a footprint on your credit file.

Foxy-Stoat_3

You will be able to get a mortgage through a whole of market broker, depending on the level equity in your current house.