Getting a mortgage loan after an IVA
An Individual Voluntary Agreement (IVA, also known as an individual voluntary arrangement) is often the only remaining option for those who are in debt and wish to avoid bankruptcy.
An IVA allows a borrower to arrange a reasonable, affordable payment plan with the creditors they owe money, that will enable them to settle what they owe over the course of a few years.
Understandably, many mainstream mortgage lenders are reluctant to lend to people with an IVA history, as it highlights an increased risk of non-payment.
At CLS Money, we work with a number of specialist mortgage lenders who are willing to offer a mortgage to a borrower who has or previously had an IVA. Our IVA mortgage lenders can help you get a mortgage even when most borrowers have given up hope after rejections from the high street lenders.
We will compare deals on mortgage loans from a variety of companies before suggesting a mortgage lender who is likely to accept your application. Once your IVA mortgage application has been submitted and successfully approved, we’ll make sure all the relevant paperwork is completed accurately and on time, and speak to your estate agents and/or solicitors to make sure everything is in order and ready for the target completion date.
If you have previously struggled to secure a mortgage due to a history of missed payments, or you’re concerned that your financial history will affect your eligibility for a home loan, you’ll benefit from honest, professional advice from our team.
We can help borrowers with their mortgage after all sorts of bad credit problems. No matter what your credit history, we've got an expert mortgage broker who can help you with your credit file. With the correct care and effort, borrowers can raise their credit score and work towards getting an IVA mortgage. As specialist IVA mortgage lenders, we're happy to provide the debt advice to get you back on track.
For more information on getting a mortgage with or after an IVA, contact our expert IVA mortgage brokers today.