Can I get a mortgage with an IVA?

Can I get a mortgage with an IVA?

IVA’s (Individual Voluntary Arrangement) can be considered by Adverse lenders, they may take into account the following factors:

A satisfied IVA can increase your chances of getting a mortgage and it can depend on how long it has been satisfied for. However if the IVA is not satisfied some lenders may apply some conditions to the mortgage offer i.e. the IVA must be paid off with the advance.  

An IVA will normally last on your credit file 6 years from the day it starts and some lenders may ask if you have ever entered into an IVA regardless of it being satisfied or not. 

There can be many variables with when it comes to IVA’s. You may need a bigger deposit and the interest rate can be higher than high street deals however this is not to say you will be refused a mortgage as each application will be assessed on a case by case basis on its own individual merits.

To understand your chances of getting right mortgage for you I will need to do an assessment of your credit file so get in touch to see if I can help you

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