Mortgages with IVA.
An Individual Voluntary Arrangement, or IVA, can have a major impact on mortgage applications.
Some lenders will not consider an application until the IVA has completed and enough time has passed. Others may review cases depending on the circumstances.
[ WHAT THEY CONSIDER ]
Date the CCJ was registered
CCJ amount
Whether the CCJ is satisfied
Date of satisfaction
Number of CCJs
Other adverse credit
Deposit size
Current credit conduct
Income and affordability
Explanation behind the CCJ
What is an IVA?
An IVA is a formal debt solution where an agreement is made with creditors to repay debts over a set period.
It is a serious credit event and is likely to affect lender options.
Can I get a mortgage after an IVA?
Possibly. The chances usually improve once the IVA has completed and time has passed.
The outcome may depend on
Whether the IVA is active or completed
Date of completion
Credit conduct since the IVA
Deposit size
Income and affordability
Current commitments
Property type
Overall credit profile
Can I get a mortgage during an IVA?
This is usually more difficult. An active IVA can significantly restrict lender options and may require consent from the IVA supervisor. The case would need careful review before any lender approach.
How we help?
Mortgage Centre reviews the IVA status, credit history, income, deposit and affordability before a lender approach is considered. This can help identify whether there may be a suitable route forward.
[ FAQs ]
Can I get a mortgage after an IVA?
Possibly. Some lenders may consider applicants after an IVA, especially where it has completed and credit conduct has improved.
Can I get a mortgage during an IVA?
It is usually more difficult and may require consent from the IVA supervisor.
How long after an IVA can I apply for a mortgage?
This depends on lender criteria and your wider circumstances.
Will I need a bigger deposit after an IVA?
Often, a larger deposit can improve options, but it does not guarantee acceptance.
[ WHAT DO YOU NEED ]
Personal
Passport
Proof of address
Credit report
Income
Payslips & P60
SA302s & Accounts
Bank statements
Property
Memorandum of Sale
Estate agent details
Solicitor details
[ GLOSSARY ]
HMO: House in Multiple Occupation
SPV: Special Purpose Vehicle
IVA: Individual Voluntary Arrangement
DMP: Debt Management Plan
CCJ: County Court Judgment
[ DISCLAIMER ]
Your home may be repossessed if you do not keep up repayments on your mortgage.