We applied for a remortgage to release funds to pay off IVA early. We are just over 3 years into 5 year IVA. Due to a mix up the lender has date of the modification meeting for IVA on their system as the date we entered IVA so they say we do not meet criteria so have declined it. They say we enterd IVA 2 months ago so cannot apply for mortgage.

Criteria is ..IVA satisfied or well conducted.........37 payments made plus extra £10k

CCJ up to £7.5k none in last 3 months............we have no CCJ

No more than 3 Months mortgage arrears inl last 12 months............no mortgage ar rears ever

LTV no more than 75%....................we are looking LTV 45%

We have all the proof about IVA dates to show them but wonder if once mortgage is declined is it even worth appealing it or once they say No will they not go back on this ?

Hate the though of going through it all again and being pulled at last minute again, mortgage was pulled a week before due to complete on remortage.

it is more likely to be the lender tightening their belt - speak to a free and independent adviser and also obtain a copy of your experian report for free off their site.

Appealing usually doesnt work as underwriters are sticklers. There will be a valid reason but it would be advisable to move quickly as mortgage comapnies as well as mortgage products are vanishing at an alarming rate!

thanks for your reply

I have already been told the one and only reason mortgage was declined and like it is to do with a date they have wrong on their system . I do know where this error occured and have all the documentation to show them the correct date. I have a broker dealing with this and he is confident that an appeal will work as this seems to be a admin error.

Hopefully will get an answer soon as going to see broker tomorrow.