Getting a mortgage top up after having IVA

Toads19

Hi guys does anyone know if I can get a mortgage top up after paying off my IVA 
I took it out 6years ago and paid it back early so I’ve been a year free of it 
I recently tried with my mortgage company to get a top up and they said I couldn’t because of IVA and said it stays on my credit file 6yrs after I’ve paid it off is this right  as I’ve googled this and it says it should come off credit file once it’s all paid I took it out 6years ago 

ACG

Most mortgage lenders work off the date of discharge rather than registration. Realistically your unlikely to get a normal rate mortgage for a couple of years. 

Depending on the numbers, it might be cheaper to look at a secured loan - ie a high rate on say £30k top up might be cheaper than switching your whole mortgage an adverse lender. 

You will probably need a broker to have a look through your credit report and help you with this as it will probably be far from straight forward. 

fatbelly

Toads19 said:

Hi guys does anyone know if I can get a mortgage top up after paying off my IVA 
I took it out 6years ago and paid it back early so I’ve been a year free of it 
I recently tried with my mortgage company to get a top up and they said I couldn’t because of IVA and said it stays on my credit file 6yrs after I’ve paid it off is this right  as I’ve googled this and it says it should come off credit file once it’s all paid I took it out 6years ago 

Neither is correct.

The mark stays on file for six years after the IVA starts.

It is only removed after that point if the IVA  has terminated/completed. Many IVAs last beyond 6 years.

So from what you say, it will be leaving your file this year