We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Mortgage Application Post IVA Completion

Options
Hi, i've had a little look around and I haven't found another question similar to this, if there is one please point me in the direction:

I should be receiving my certificate of completion for my IVA from Debt Free Direct imminently (after a ridiculously long process my last payment was December 2013!). It started in December 2007 and has "fallen off" my credit reports and according to experian and equifax i have excellent credit ratings (989 and 441 respectively).

My wife has a mortgage in her own name, and we are looking to buy a new house together with a joint mortgage as soon as possible.
I was surprised at how good my credit scores have turned out, however I am worried that my IVA will still present a problem. Ideally we need a mortgage lender that doesn't ask whether I have had an IVA, CCJ, Bankruptcy etc that still offers good rates, do these even exist? Halifax apparent;y don't ask for this on their initial application form - but ongoing could it become an issue? Obviously we're loathed to apply for a mortgage that we won't get if it effects our credit file by applying. We will have equity in our current house (around 10k) and around 5k in savings on top of that, my wife has had her current mortgage since 2012.

Any advice on this matter would be greatly appreciated, as it is all a bit daunting.

Comments

  • debtfree2016
    debtfree2016 Posts: 325 Forumite
    My suggestion would be to go through an independent mortgage advisor. They don't charge they tend to stick with certain banks and B/S where they receive commission. However they aim to get you the beast deal.
    Never make assumptions always ask questions>>>>>;)
  • I had an IVA and have had mortgages with Halifax and Barclays/Britannia.

    Didn't go through a broker for either, just checked their lending criteria.
  • debtfree2016
    debtfree2016 Posts: 325 Forumite
    Are the ok with IVA's ?
    Never make assumptions always ask questions>>>>>;)
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 350.8K Banking & Borrowing
  • 253K Reduce Debt & Boost Income
  • 453.5K Spending & Discounts
  • 243.8K Work, Benefits & Business
  • 598.6K Mortgages, Homes & Bills
  • 176.8K Life & Family
  • 257.1K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.