Can You Get a Mortgage With an IVA?
Specialist mortgage advice if you have an IVA
your home may be repossessed if you do not keep up repayments on a mortgage.
The Financial Conduct Authority does not regulate some forms of Buy to Lets.
A mortgage may be possible with an IVA, although lender choice can be limited. An active Individual Voluntary Arrangement (IVA) is a different position from a completed one. We need the date it began, whether it’s formally ended, how your credit files are recorded now, the deposit or property equity, and evidence that the new mortgage is affordable. There’s no single rule that every applicant must wait a fixed number of years after completion.
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What is an IVA and what does completion mean
An Individual Voluntary Arrangement (IVA) is a formal agreement with creditors to repay some or all of what you owe, usually through an insolvency practitioner. It’s different from a debt management plan. If you’ve completed the IVA, keep the completion certificate and check that the official and credit-reference records have been updated. Don’t describe a plan as completed just because you’ve made your last expected payment — confirm its formal status with your practitioner.
Current government guidance says an IVA appears on the credit file for six years from its start date. Completion may happen before or after that credit-file period. Accounts that defaulted before or during the IVA can also have their own credit entries. Check the IVA record and individual debts, rather than assuming one completion letter clears the entire report.
Can you apply while the IVA is active
An active IVA can make obtaining a new residential mortgage particularly difficult, and the IVA’s terms may restrict obtaining credit or require the supervisor’s consent. We can’t tell you from an article that you’re free to borrow or use equity — speak to your insolvency practitioner about the IVA obligations first. If you own a home and need a new rate, ask the existing lender what product transfer options are available, and compare those separately from moving lender or taking extra borrowing.
What do lenders look at after completion
Lenders may consider when the IVA started and completed, whether it was satisfied in full under its terms, what remains on the credit reports, and the pattern of payments since. Any later defaults, CCJs or arrears can affect the outcome independently. They also assess income, household commitments, deposit source and property. A larger deposit can sometimes broaden the search but doesn’t establish a right to a mortgage.
The deposit a lender requires depends on its current policy and your particular credit history. We compare realistic loan-to-value options and their full costs using your actual circumstances.
What should you check before applying
- Confirm the IVA start date, formal completion date and whether any obligations remain with the insolvency practitioner.
- Review your credit reports for the IVA, related default dates, outstanding balances and inaccurate statuses — query errors with the responsible organisation and credit reference agency.
- Gather income evidence, details of existing borrowing, a household budget and proof of deposit or equity.
- Tell us whether you’re buying, moving or remortgaging — the options and costs can differ substantially.
There may be a fee for mortgage advice. The precise amount of the fee will depend upon your circumstances but will range from £597 to £997 and this will be discussed and agreed with you at the earliest opportunity.
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FAQ
It’s particularly difficult to obtain a new purchase mortgage during an active IVA. The arrangement’s terms may restrict new credit, and lender choice is very limited. Speak to your insolvency practitioner before seeking credit or committing to a purchase — don’t assume permission. If you already own a home and need a new deal, ask your current lender what it can offer and discuss any planned remortgage or release of equity with the practitioner.
There’s no universal rule requiring a fixed wait after completion. A lender may require evidence that the IVA is formally finished, look at how long ago it ended, and assess subsequent payment conduct. Other lenders may wait until it no longer appears on the credit file. Have your completion certificate, start and end dates, credit reports, income evidence and deposit details ready so we can check criteria at the stage you’re actually in.
The usual credit-report period is six years from the IVA start date, not six years from its completion. If the arrangement lasts around five years, the IVA marker may remain for roughly another year; a longer-running arrangement can need further checking. Defaults on individual debts have their own dates and may remain separately. Confirm that the IVA is recorded as completed and check official and credit-reference records rather than assuming a certificate clears them immediately.
Deposit rules differ between lenders and change with the time since completion, overall credit history, income and property. Some specialist products may require more equity than a mainstream product, but a fixed 15%, 20% or 25% promise is unreliable. A larger deposit may widen choice yet can’t remedy unaffordable repayments. Ask for a comparison of available products, rates, fees and any benefit from waiting.
Possibly, depending on the IVA terms, the purpose and lender criteria, but the insolvency practitioner must be involved before you act. Renewing a rate with your existing lender, moving to a new lender and borrowing more are distinct transactions. Equity-release clauses in an IVA can also affect the decision. Get the practitioner’s view and the current lender’s offer, then compare any permitted options and the effect on total debt.
A lender assesses both applicants and the source of the deposit. A partner’s unaffected credit and income may help the application, but they don’t erase your IVA or its obligations. Ownership and affordability also matter. If the IVA is active, check its terms and the practitioner’s requirements first. We can discuss possible application structures after reviewing the joint finances.
They may ask about previous insolvency in the application, even if the entry no longer appears on a standard credit file. Answer the wording of each lender’s questions accurately. Removal of a marker doesn’t guarantee mainstream acceptance — related defaults, borrowing commitments, deposit and affordability still matter. Keep your completion certificate and relevant dates to answer questions consistently.
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