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Discussion and questions about what to expect when your IVA is finished
By Carla
Hi there Karenontheedge. Did you make any progress with this? Have you been able to find anyone who might be interested in offering you a mortgage?
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By Geraldine
Yes, do please let us know karenontheedge as it would be really useful feedback for others who are reading the forum. :)
By karenontheedge
This has been a much harder job than I think the earlier posts thought it would be. I am computer savvy and not afraid to speak to people on the phone but have found it very difficult getting hold of the right people. I imagine anyone with less confidence would find it impossible.
I found websites for the potential mortgage lenders that had been mentioned on this post and they all say that you need to go via a broker/intermediary. I contacted several local brokers recommended to me but none of them used anything other than "high street" lenders. On checking back on sub prime lender sites I found a list of possible brokers. I rang 4 of them. Three told me that no-one would consider lending until at least 3 years since IVA has ended. Despite the IVA being paid off early, our having at least a 50% deposit and only wanting to borrow 2X salary. One broker has asked a few more questions and has submitted an application in principle to them. He will not tell me who they are and I am waiting for him to come back to me. These brokers are totally unknown to me and miles away from where I live I feel I am taking a huge gamble giving them personal and financial details. It is very scary and stressful and is making me very ill.
I will obviously update the post when I hear.
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By Hayden
This is really frustrating karenontheedge. Unfortunately the situation you find yourself in just shows how very difficult it is to get a mortgage in the current client if you have been through an IVA in the recent past and is still showing on your credit file. I really hope the one broker you are speaking to who has shown promise does come up with an option for you. If I hear of any other options I will certainly be sure to post them on the forum......