Mortgage with incorrect defaults on file

Klixx

Hi, I entered into an IVA in Feb 2018, that is all done and dusted, over 6 years and gone off my credit file etc. apart from 2 accounts that show a default date of August 2018 that were included in the IVA (they should be gone too). I recieved a mortgage in principle from the Halifax earlier this month who asked if I’d had any defaults in the last 6 years and I said no because I’ve been trying to get the lenders to change the default dates on the accounts mentioned to the correct date and also technically I don’t have any defaults in the last 6 years and my past IVA documentation shows the creditors default notice in Feb 18 and not August. I did speak to the mortgage advisor again and told them about this situation and she said not to worry as if you’ve passed the soft check you should be ok however I’m wondering if they will require more deposit from me or charge me higher interest rates because of the defaults showing. I know the mortgage advisor said not to worry but I can’t help it, I’m about 4 weeks away from needing the full application and all I can think about is being knocked back when they hard check me or having to pay extortionate rates when I’ve already served my time because of a couple of accounts with incorrect information showing (I’ve already contacted the CRA and creditors to try and amend this but have just been brushed aside). I’ve had no applications for credit in the past 6 years since the IVA, and not missed a payment on anything, mortgage is for a new build £200k and my salary is £52k got the DIP with 10% £20k however been told to expect to put 15% (£30k) down with it being a new build. 

ACG

They wont change the interest rate. You are either accepted for the product or you are not. Im not sure if that is a good or bad thing. But I think you will be fine in all honesty.  

Klixx

ACG said:

They wont change the interest rate. You are either accepted for the product or you are not. Im not sure if that is a good or bad thing. But I think you will be fine in all honesty.  

Thank you. I’ve just been stressing out about things and always jump to the worst scenarios that I read.

Christologymum_2

@Klixx .I’m watching with interest as I’m almost identical. IVA finished 13th March, but not dropped off file yet but checking daily. 

I had 2 defaults that were part of the IVA one coming off April one June but looking to put house on the market ASAP so don’t want to have to wait for them to drop off. Contacted one of the lenders and they agreed to change it so dropped off now, the other I’m getting no where with but it’s the April one so prob just stick it out now. 

Just out of interest how did you get Halifax to do just 10% deposit, when IVA only just settled I keep getting told I’ll need 30% deposit which is fine I’m just curious. 

Klixx

Christologymum_2 said:

@Klixx .I’m watching with interest as I’m almost identical. IVA finished 13th March, but not dropped off file yet but checking daily. 

I had 2 defaults that were part of the IVA one coming off April one June but looking to put house on the market ASAP so don’t want to have to wait for them to drop off. Contacted one of the lenders and they agreed to change it so dropped off now, the other I’m getting no where with but it’s the April one so prob just stick it out now. 

Just out of interest how did you get Halifax to do just 10% deposit, when IVA only just settled I keep getting told I’ll need 30% deposit which is fine I’m just curious. 

I just applied for a DIP as soon as the IVA disappeared from all CRA and 2 defaults were left, got declined by HSBC,Barclays,Nationwide and Halifax gave me an agreement in principle, 2 days later I was walking the dog and one of their mortgage advisors rang me to go through everything and they confirmed the deposit amount and the amount I could borrow, they said I may need 15% for a new build though but anything that’s not a new build it’s 10%, however the broker I’m now talking to says 10% might be ok for the development I was looking at but we shall wait and see. I was told I would need 30% too until the IVA dropped off in Feb.