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IVA, 10%, Mortgage Help.
Rammsteinbrit
Posts: 4 Newbie
Morning all,
Me and my gf are desperately trying to buy the house we rent, which will truly be our forever Home. We have an offer accepted.
Before Covid, we had enough saved for a 95%, and we had a AIP. Since covid, we've been able to secure 10%, as no 95s are available.
However, my gf had an IVA back in 2011, which has all been paid off etc a few years back. We've paid for an advance credit check, and it doesn't appear on there. Both of our credit ratings are very high.
Our broker was going to place us with Platform, on a 90%, but they've changed their criteria and have said they won't accept anyone who's had an IVA (things were OK pre Covid)
Also, we've got other people coming round and viewing the place...so times a factor.
What do we do? Any advice? Do we not mention the IVA unless asked? We're VERY desperate, and do NOT want to leave this place.
Thank you all in advance.
Me and my gf are desperately trying to buy the house we rent, which will truly be our forever Home. We have an offer accepted.
Before Covid, we had enough saved for a 95%, and we had a AIP. Since covid, we've been able to secure 10%, as no 95s are available.
However, my gf had an IVA back in 2011, which has all been paid off etc a few years back. We've paid for an advance credit check, and it doesn't appear on there. Both of our credit ratings are very high.
Our broker was going to place us with Platform, on a 90%, but they've changed their criteria and have said they won't accept anyone who's had an IVA (things were OK pre Covid)
Also, we've got other people coming round and viewing the place...so times a factor.
What do we do? Any advice? Do we not mention the IVA unless asked? We're VERY desperate, and do NOT want to leave this place.
Thank you all in advance.
0
Comments
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Is your broker limited to that one lender?
Have they basically said they can not help now?
I have just opened up a Platform application form and they ask "Have you ever entered into an IVA?" - it will come up with them, so you probably need to knock them on the head and find a new lender and/or broker.
I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.1 -
Morning,
No, the broker has alot of lenders, but apprently none of them will take 10% AND are OK with someone who has had an IVA.
Do you know of any lenders that do offer a 90% and are OK with an IVA past?0 -
How long ago since discharge
I have to be honest - with the lack of 10% lenders and how strict they are on credit score I can't see you getting this with less than 15% deposit0
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