At Zeo Mortgages, we specialise in helping clients with an Individual Voluntary Arrangement (IVA) find the right mortgage for their individual circumstances. We have access to a range of specialist lenders who understand the challenges of getting a mortgage with an IVA. Unlike mainstream banks, these lenders assess applications on a case-by-case basis, considering your current financial stability rather than just your credit history. Whether your IVA has recently been satisfied or you’re looking to rebuild your homeownership plans, we can help you explore the best options available.
Can You Get a Mortgage with an IVA?
Yes, but it depends on several factors:
- How long ago your IVA was registered – Most mainstream lenders prefer applicants to be at least six years past their IVA and have a history of good credit since then.
- Whether the IVA has been settled – If your IVA is still active, getting a mortgage will be extremely difficult. Lenders usually require it to be fully satisfied before considering an application.
- Your deposit size – Expect to put down a larger deposit, typically 15–30%, as lenders see applicants with past IVAs as higher risk.
- Specialist lenders – Some lenders specialise in offering mortgages to those with poor credit histories. However, interest rates may be higher compared to standard mortgage products.
Improving Your Chances of Approval
If you’re applying for a mortgage post-IVA, here’s how you can strengthen your application:
- Check your credit report – Ensure your IVA is marked as satisfied and dispute any inaccuracies.
- Save for a larger deposit – The more you can put down, the better your chances.
- Demonstrate financial stability – Lenders will look for evidence of steady income, low debt levels, and responsible financial behaviour.
Final Thoughts
Getting a mortgage after an IVA may take extra effort, but with careful financial planning and the right support, homeownership is still within reach. If you’re unsure where to start, speaking to a mortgage adviser can help you navigate your options and improve your chances of approval.
Need guidance on your mortgage journey? Reach out to Zeo Mortgages and speak to a specialist adviser today!