Mortgage / equifax / iva help..

Hitchy7

I started an iva in 2005 and paid early by full and final settlement in 2009...

I now have a decision in principle from natwest for a mortgage via help to buy and on checking equifax this blooming iva is hiding in the notice of corrections!

The full application for mortgage is going in on Wednesday, I've emailed equifax in hope they will remove it in time but I have no idea what else to do...

I'm worried they'll turn me down as it is but this is probably a given that hey will

UpToMyNeckInIt

Equifax are knowf ofr this.

Here is an earlier forum thread on this exact subject.

https://forums.moneysavingexpert.com/discussion/3770831

Might help if you can 'stall' the mortgage application for 2-3 weeks.

Hitchy7

Oh it's so frustrating...
As far as I'm concerned this should have been removed in 2011 :mad::mad:

We are supposed to exchange by 17th February so if the natwest decline the mortgage on Wednesday and it's because of the Iva we won't have the time to wait for equifax to get off their bum :-(

I sent a dispute to them but don't know how loving they take

Hitchy7

And the worst thing is...
It was an Iva both my wife and I entered into and it's not on her file but typically it's only me going for the mortgage due to her being self employed for too short as pace of time :-/ grrr

Hitchy7

So I've spoken to equifax and they have said they will 'log it'(?) but it will take 3-4 working days to sort,
Broker is coming tomorrow evening and needs to process the full app Wednesday... I can probably stall that until later in the day siting needing to pay money into the bank to pay valuation fee but seriously believe this will screw it up despite it being started in 2005 and cleared in 2009

UpToMyNeckInIt

...of course you may find that the NoC will affect anything - totally understand the 'stress factor' though.

It might be that NatWest already know about your previous IVA. I understand that many mortgage applications ask about previous insolvency and/or special repayment terms to creditors (eg: a DMP).

Many mortgage lenders also rely more on their own lending criteria, rather than credit ratings.

Got my fingers crossed for you, and do keep us updated with how you get on.

all the best.

Hitchy7

Goes from bad to worse..
It still on there so chased again to be told they will try to expedite it but it can take 21days

Grrrr

Hitchy7

Scrap that...
They've donr it

UpToMyNeckInIt

...great news - that was quick!!!

Good result.