question category: IVA

can i get a mortgage with an IVA?
Submitted on: 5th Jan 2009 by Non-Member | Total Answers: 1

I am just going into my 3rd year of my IVA, will I be able to get a mortgage before the end of the repayments?

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Mortgage with an IVA

You can get a mortgage and should talk to your Insolvency Practitioner. The issue is the rate that you will be able to borrow at. Your credit rating will be poor and any sort of finance is expensive. If a property you finance gains in value and there is equity in your house before the IVA is completed, it is likely that you will be forced to re-mortgage to release the equity. Might be worth renting for a while longer. The property market appears to still be falling as well. Just a thought.

Submitted on: 5th Jan 2009 by TA Member

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