# Anyone know about IVA's?



## Awol (Jun 29, 2007)

I was in one, ended it early with a full and final payment offer, after 3 years ish.

that was last may that the certifcate actually came through to say it had ended. 

now I'm pretty sure its going to stay on my credit check for 6 years from the start - till Aug 2011 

the fact that I ended it early in May 2008 shows on credit check, I have done experian one, did do credit score and i was above average as I never actually missed many payments etc - I think I was misled/miss sold IVA but thats another story! 

But looking into mortgages they wont touch me, although mortgage man in Lloyds nicely told the wife and I we could borrow 196k based on our salaries if it wasnt for IVA.

now normally they said they will go back to normal lending a year after IVA finished, but this is when its the full 5 years, and on your credit score for 6 years, 

does anyone know if we'll have better luck trying once IVA has been settled for a year i.e. may 2009?


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## asjam86 (Mar 23, 2007)

Yes they will begin to lend to you at decent rates again after 1 year. Yes it will remain on your credit file for 5 years but shouldn't have such a bearing on you. 

Take in proof that you repaid the debt ahead of schedule they will like that!


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## Beastmaster (Mar 13, 2006)

If you get an up to date credit file you can see if all of your creditors have changed your credit agreement from default to satisfied, if any are still in default you will need to send a copy of the completion certificate to them, and get them to change it otherwise wont get any credit and if you do then the rate will be high.


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## APK (Oct 6, 2008)

Forget C&G they will always look for a reason not to lend, find yourself a good independent mortgage broker, they should be able to find you a deal possibly from a high street lender at high street rates. What percentage deposit do you have?


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## Awol (Jun 29, 2007)

Yeah I have checked and all show satisfied now after some chasing!

we have 20k, possible wipe out savings for bills etc and stretch to 25 depending how much fees are and if we have to have any money to spend on place?

and property we were looking at is 145k, another one 140k 

so my maths says bout 14%worst, 18% bet, but that is the list prices, so would hope to better, but we don't want to look/offer until we know we an borrow money?

we did go to an IFA guy but as soon as we talked about the IVA he didnt really know much about it and said he'd get a colleague to call us, but no one ever did so we took it as they couldn't do anything.

Allan


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## APK (Oct 6, 2008)

AWOL,

Sorry to hear about your experience with the IFA, sadly there are still a lot of Lazy ones around! At 85% it will not be easy, but if your credit history since has been perfect, and it was fully repaid, it should not be impossible, you may get through with Halifax group, or alternatively some of the smaller building societies may consider, based on your personal circumstances rather than just a credit score.

Where about are you, as you really need to chat this through with a broker, and the broker then to chat it through with a lender rather than keep applying/being declined until one sticks.


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## Awol (Jun 29, 2007)

we have only been to Lloyds and this IFA for that reason, we didnt want to have loads of declined applications.

yes my credit since is perfect, and my credit before is 95%g reen dots lol if that makes sense. like i said i paid for credit score and it came up above average. 

I think what you say is correct, i need a broker who understands what has happened and can explain/talk about it with a lender in the right way. 

I am near Devizes, Wiltshire, SN15 postcode which is actually chippenham lol

Allan


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