What’s the chances

Christologymum_2

Sorry I know I keep coming back with more questions but keep pondering and reading more and more. 

IVA finished 13th march waiting to drop off credit file any day, one default to Santander as part of Iva will drop off around 25th April, tried challenging this but given up. Come end of April both should be off credit file. 

House going on market next couple of weeks, and I need to secure a property on my own. 

I keep reading about Halifax and people getting mortgages straight out of Iva’s, due to the question about IVA in the last 6 years not ever, with as little as 10% I will be using a broker but just out of curiosity do people think this would go through with Halifax 

Late payment to TSB due to cancelling my overdraft and not picking up on it quick enough, status 2 paid off Jan 2021

Vodaphone status 4, due to a !!!!!! up with cancelling and not realising was a small amount owing, my fault settled Jan 2022.

Default from British Gas £76 electric, registered June 2020, settled. Here’s the kicker I was with them for gas and electric, paid by direct debit joint amount not separate accounts always paid on time then left and went to a different provider. Has shown all up to date and paid off when left, gas shows 5 missed payments then default but it was all paid together and I never had any letters etc from them as it was paid up. I’m going to challenge it as I don’t think it’s right, I can’t see how it can be but I’m not sure I’ll get anywhere, 

But if I can’t get it removed do you think Halifax would entertain me with that default, and couple of missed payments? 

I can go up to a 30% deposit but less would be better to give me some more options for houses, affordability is fine. 

Rest of my credit file looks healthy. No debt to Halifax banking group in IVA and banked with them since 2006 if that counts for anything. 

ACG

Were halifax or any of their group of companies involed in the IVA? 

Christologymum_2

No, and banked with them for a long time never had anything other than bank account with them 

Edi81

Christologymum_2 said:

No, and banked with them for a long time never had anything other than bank account with them 

This also includes Lloyds Bank, Black Horse? Not sure if MBNA would count as they didn’t own them 6 years ago. 

ACG

You stand a chance then. 
I tend to find its not so much about the IVA, but more about your credit report. 

A good example is if you went into the IVA because of a HMRC debt, you are far more likely to pass a credit check than someone who went into the IVA with 2 credit cards. The HMRC debt will not show on the credit report where as the 2 credit cards likely would. 

If your credit report will be clean come April, you stand a good chance with any lender where you fit criteria. 

Christologymum_2

Thanks no nothing at all to any of Lloyds banking group. 

Interestingly some of the debt in the IVA was to HMRC but also some other creditors such as Santander, Nationwide. I think MBNA one was one though. 

IVA and last default for IVA will be off April

I guess the question is will the small default for British Gas of £76 from 4 years ago be a problem if I can’t get it removed and the few missed payments? 

Would this likely go through with Halifax? 

pjs493

I think a small utility debt due to a misunderstanding following a house move is something that can easily be explained to underwriters. You could even look into having a note added to your credit report to explain what happened. In the grand scheme of things this could be something they’d be happy to overlook. 

ACG

pjs493 said:

I think a small utility debt due to a misunderstanding following a house move is something that can easily be explained to underwriters. You could even look into having a note added to your credit report to explain what happened. In the grand scheme of things this could be something they’d be happy to overlook. 

DONT add a notice of correction to your credit report. They get ignored as they take the data as gospel. 

When lenders do credit checks, they pull the information from them (balances, payment history etc), it then scores your application accordingly. 

Their system can not read a notice of correction, so it kicks it out for a human to take a look. It wont necessairly result in a different outcome, but it will likely delay it. 

kingstreet

ACG said:

pjs493 said:

I think a small utility debt due to a misunderstanding following a house move is something that can easily be explained to underwriters. You could even look into having a note added to your credit report to explain what happened. In the grand scheme of things this could be something they’d be happy to overlook. 

DONT add a notice of correction to your credit report.

^^^ This! ^^^

Christologymum_2

I’ll def not add a notice of correction. I guess I could always give Halifax a bash and see what happens come May