Recommended Mortgage Providers - IVA Completed

Harry_Hammer

Unfortunately, we have received the following message from the broker!

The original quote I sent you with Family Building Society was declined as their criteria states the IVA needs to have been discharged for 24 months – this was not clear on my sourcing system.

So despite making all payments for 6 years on the IVA, paid upto 4.99% on a variable rate mortgage and never missed a payment, we are penalised for another 2 years!!!!

Seems very unfair for taking the responsible steps to resolve an issue that was thrust upon us, due to a dramatic loss of income......

foxy-stoat

Not really, find a broker who has place an ex IVAer and you will be fine....that broker is the wrong one.

Don't forget that by taking on an IVA you have effectively being 1 step away from becoming bankrupt....paying back around 25% of your total debt. So it's not unfair of any lender not to lend to you as you have not fulfilled the original agreements you took out prior to your IVA.

Good lucks

Neutrinno

PrettyKittyKat wrote: »

Don't approach any lenders included in your IVA.

This isn't good advice. I've placed countless clients with lenders who've been a former creditor in an IVA.

Harry_Hammer wrote: »

Unfortunately, we have received the following message from the broker!

The original quote I sent you with Family Building Society was declined as their criteria states the IVA needs to have been discharged for 24 months – this was not clear on my sourcing system.

So despite making all payments for 6 years on the IVA, paid upto 4.99% on a variable rate mortgage and never missed a payment, we are penalised for another 2 years!!!!

Seems very unfair for taking the responsible steps to resolve an issue that was thrust upon us, due to a dramatic loss of income......

Get yourself a better broker who deals in adverse. There are high street options 100% achievable post IVA provided your credit file is in order.