Mortgage After IVA

Getting a Mortgage After IVA

You may have heard or been told that if you want to get a mortgage in the future, you should avoid an IVA (individual voluntary arrangement) and use an Informal Debt Management Plan. However, this isn’t accurate and it’s unlikely to be any easier to get a mortgage after a DMP than it is with an IVA.

If you have an IVA, you may be under the impression that obtaining a mortgage is well out of your reach. But that isn’t true, there are still plenty of lenders out there that are willing to provide you with a mortgage after IVA. However, you’ll need the help and guidance of a specialist mortgage broker, which luckily, we can help with.

As a specialist mortgage broker, we can identify the most suitable mortgage for your individual needs and help you apply for it, to help you get the keys to your dream home in a way that’s stress and hassle-free for you.

What Is a Mortgage After IVA

A mortgage after an IVA, is just like any other mortgage, with the main difference being it is better suited to people that have just had an IVA and are trying to get a mortgage. The main thing that acts as a barrier when it comes to applying for a mortgage is your poor credit score following an IVA.

Due to this, even if the record has already come off your credit file, it’s highly likely that you will still have to use an adverse mortgage lender, as there’s a strong possibility that you will be unsuccessful if you approach the lender yourself.

Adverse lenders tend to charge a higher rate of interest than traditional high street lenders, but don’t let that put you off the thought of a mortgage, as an affordable mortgage after an IVA is still attainable. The high-interest rate won’t stay that way forever, and normally you will be able to remortgage to a better deal after two years has passed.

Kiran
Kiran
2024-01-15
Cannot recommend Regal Finance enough! Matthew and Kirsti were amazing and completely took the stress out of the process. They were always available to answer questions and guide us through everything. I found they had access to a wider range of products than other advisors I had used in the past. I will be recommending Regal Finance Group to everyone I know!
L Fowler
L Fowler
2024-01-04
Matthew and his team have gone above and beyond to help us with our mortgage. As first time buyers we decided to seek advice from a mortgage advisor. After having an offer accepted on a house we needed some support with the mortgage fairly quickly and Matthew managed to fit us in out of usual hours to suit us. We had a very detailed call with him and all our questions were answered. From this point onwards Kirsti managed our application and the whole process was fast and effortless as they managed everything. We made the best decision using Regal finance. If you choose to go with Regal you’ll be in good hands.
Jamie Wells
Jamie Wells
2024-01-04
I can’t recommend regal finance group enough. Kirsti and Matthew have been amazing. They are so quick to respond and the advice they give has been so helpful. Don’t hesitate to get in contact if you need a mortgage. Thanks Jamie and Lauren
Sam Powell
Sam Powell
2023-12-07
Excellent service and company
Erion Andoni
Erion Andoni
2023-10-10
I recently had the pleasure of working with Rick to secure a mortgage for my new home and a buy-to-let mortgage for my existing property. Rick's assistance was truly invaluable throughout the entire process. Rick effortlessly guided me through both processes, making sure every detail was covered. His commitment to assist and his availability and willingness to answer my questions, no matter how small was exemplary. Rick's expertise in mortgages was impressive. He made a complex process seem straightforward. I wholeheartedly recommend Rick as a mortgage broker. He is not only skilled but also genuinely cares about his clients' success.
Yolanda
Yolanda
2023-09-27
I did my due dilligence looking at various brokers and was pleased to have received excellent help and direction from the Regal Finance Group. From the lead advisor to the administration team we were kept updated and communication was steady. Our situation was not an easy one for the team but they persevered and assisted us well.
Peter Nelson
Peter Nelson
2023-08-22
We've had a great experience with Regal Finance Group both getting our mortgage initially and now re-mortgaging a few years later. Particulalry during the current turbulent market we really appreciated how calm they made us feel by presenting our options clearly and answering all of our questions. We'd highly recommend them, they have really taken the stress out of mortages!
samantha sothcott
samantha sothcott
2023-08-02
Matthew and Kirsti at Regal Finance have been absolutely brilliant through a difficult remortgage. Always available to talk through anything and explain processes when needed. I would definitely recommend their services and thank them for their guidance.
amy evans
amy evans
2023-08-01
Kirsti and Matt were super helpful and always at the end of the phone to explain everything in detail to me. They saved us a lot of money and had great contacts to use and everyone worked together really well to get it over the line in time. Would highly recommend
izzy P
izzy P
2023-06-15
Can not recommend enough! Matthew and his team gave me the most amazing support throughout my process. Buying a property for the first time can be daunting and Matthew gave me fantastic advice and talked me through everything in as much detail as I needed.

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All Hope Is Not Lost

If an IVA has been the best debt solution for your situation, you can have peace of mind that there are mortgage options that are available to you once it’s been completed. Depending on your circumstances, some lenders are willing to offer up to 95% loan to value mortgages. However, you will need the help of a specialist mortgage broker.

What Size Deposit Will I Need?

The size of the deposit you need in order to secure a mortgage after IVA is dependant on how long it has been since the Arrangement started. Essentially, the longer you are able to wait the smaller amount you will require.

If you’ve completed your IVA early and it is still only 3-6 years from the start date, there are still lenders that will consider you. However, you are likely to require a deposit of 25% of the value of the property you are looking to buy.

After 6 years when the record of the Arrangement has come off your credit file, more lenders become available and you may be able to put down a deposit of as little as 5%.

Give Us a Call

All debt solutions will affect your credit score and make getting a mortgage that little bit more difficult than if you had a good credit score. However, there are ways around things and with our help and guidance, we can find the solution to providing you with a mortgage after IVA.

We take the stress away of finding a mortgage after IVA, as we have the right contacts and knowledge to match you with the ideal mortgage for you, even after IVA. You could search tirelessly for a lender that will provide you with a mortgage after IVA but still, see no success. However, we do all the legwork for you and guarantee success. All you need to do is give us a call.

Your home may be repossessed if you do not keep up repayments on your Mortgage or other loans secured upon it.

Get A Mortgage With Regal in 3 Easy Steps

One

Step 1

Complete an enquiry form and an advisor will call you back.

Two

Step 2

Send us the documents we need.

Three

Step 3

Receive a Decision in Principle from one of our lending panel.

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