bad icb after mort arrears,possible to get another mortgage before icb is cleared

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Coolpanda

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First time posting, In 2014/15 i fell into arrears of 19k on myself and partners mortgage.we went through a bad financial patch but after about a year and half we got on our feet again and were lucky a family member lent us 19k to clear the arrears,we fully paid every mort installement after that and 1k every month to the family member until the 19k was paid back to her.so for 3 years we have been doing great and managed to save 15k.we have an apartment with 196k outstanding mort and after a good few years of being in negative equity could sell for 205-210k. We have been saving with the intentions that in 2 years time our icb report will be clear and we could hopefully approach a bank again and move on,we have 2 children and are finding we are running out of space in our small home,question is? Should we approach our bank (ptsb) or bank of ireland (who seem understanding) and have given mortgages to people who have been bankrupt and hope they can forgive us as the arrears were after the bust and thats partially how we fell on bad times.if we are honest with them but can show how strong we are now with us both in permanent employement? Or should we just wait 2 more years? I am worried about falling into negative equity again which would keep us stuck where we are.any advice would be much appreciated.has anyone who have been in arrears managed to get another mortgage? Thanks
 
Approach your current bank first I think.

Credit history won't be your problem - but you'll need 20% deposit.
You've an unusual problem. If you were in negative equity, you'd only need 10% deposit.
 
Thank you red onion for the reply, getting the 20% deposit wont be a problem.if i go to ptsb but they decline us would that show up on my icb? Im 3 years in the clear and im petrified to do anything that would undo the good 3 years we have had,as we have worked so hard to undo this horrible mess we got into.
 
What would show on ICB is a footprint that PTSB had done an ICB check on you. I don't think the banks even look at it anymore - they get a summary of your credit history.

3 years clear history should be adequate to prove affordability. Just keep a clean record of your monthky savings as well to show you can afford an increased mortgage repayment.

If you can come up with the deposit, apply to both of them. If they say no, and it's because of the ICB, then apply again when it clears.
 
Thank you so much red onion for your help,i will work on getting the deposit and then i will try that.
 
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