Mortgage FTB 9 years after IVA

Kirstie30

We are applying for a mortgage 9 years after an IVA completed and ended. It’s no where to be seen on our credit scores. The application has not asked about IVAs. I am self employed. We are looking at a 5% deposit. OH is a good earner. Together we earn £68k per year before OH overtime. Application went in late last week. It’s with Coventry BS. I’m so worried and nervous that it will all be fine then after exchange it’s found out about the IVA even though years ago. Affordability, credit scores are all great! MB knows about IVA but didn’t really say much. Is that because it’s years ago. I know Coventry are one of the ones who say after 3 years not worried - but I am and will be forever I think. The vendors are such lovely people I’d hate to let them down at that stage. I can’t live this worried can anyone help? They’ve just asked for tax return for current year as restrictions may have changed my income (it hasn’t so that doesn’t concern me). Argh please some one give me hope. 

Kirstie30

should add we have a DIP done a hard search. 

K_S

@kirstie30 I'm sure your broker has seen this and run the case past the lender before placing it with Coventry. However, this is what their published credit history matrix says. It may well be outdated or have other qualifying criteria in the background that you meet, so please don't get too alarmed yet.

Kirstie30

Ok so what can we do? There was no where to say we had one on forms that we could see, and it doesn’t show on credit history as so long ago. 

K_S

Kirstie30 said:

Ok so what can we do? There was no where to say we had one on forms that we could see, and it doesn’t show on credit history as so long ago. 

@kirstie30 Nothing much really, you've done everything right - used a broker, told them about the IVA etc. And as I said, your broker would/should have run it past Coventry before recommending them.

lonibra

Kirstie30 said:

Ok so what can we do? There was no where to say we had one on forms that we could see, and it doesn’t show on credit history as so long ago. 

Talk to your MB and show him the criteria. Better that he confirm this now with Coventry than when the solicitors run bankruptcy checks etc where the IVA might be picked up.