Obtaining a mortgage after being in an IVA can be difficult, sometimes feeling impossible with most high street lenders unwilling to consider an application if you have entered into an IVA within the last 6 years. At Plus Financial solutions we have lenders that will consider application after as little as 1 year after the discharge date. We even have a lender that will consider while in the IVA up to 50% of the property value.
What are IVA’s?
An Individual Voluntary Arrangement ( IVA ) is an agreement with your creditors to pay all or part of your debts. You agree to make regular payments to an insolvency practitioner, who will divide this money between your creditors. An IVA can give you more control of your assets than bankruptcy.
When can I apply for a mortgage after an IVA?
Started within the last 12 months with good conduct:
Up to 50% of the property value
Satisfied over 2 years ago:
up to 70% of the property value
Satisfied over 3 years ago:
Up to 75% of the property value
Satisfied over 4 years ago:
Up to 85% of the property value,
Contact us today to see how we can help you secure a mortgage after an IVA!