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IVA and mortgages

Obtaining a mortgage when on an IVA

Whilst having an IVA, it is very unlikely that you will be able to get a mortgage. First of all you will need the supervisor of the IVA to give you permission in writing to apply for one. Also, currently, there are no trusted lenders who are willing to provide a mortgage to an individual who is on an IVA.

We recommend you think carefully before considering such an option and discuss this with your Insolvency Practitioner. There are rules for taking out further credit whilst on an IVA, similar to bankruptcy.

IVAs and remortgaging

Under the terms of your IVA, if you have equity in your property, you may be required to remortgage to pay a lump sum into your IVA at month 54 of the arrangement.

Mortgage advice

Contact us for free, impartial and confidential advice for more information about IVAs and mortgages, and for help on any other debt issue. You can speak confidentially to one of our debt advisors on 0800 138 1111.

More IVA advice and help from CCCS

The following articles will help you learn more about individual voluntary arrangements and how CCCS can help you:

If you want to know if an IVA is suitable for you, you can use our online debt counselling service, CCCS Debt Remedy, which will provide you with the most appropriate solution to your debt problem. Alternatively contact our free Helpline on 0800 138 1111.