How long after an IVA can I get mortgage?

It is possible to apply for a mortgage whilst you are currently in an Individual Voluntary Arrangement (IVA). Some lenders will even allow them to continue to run alongside the mortgage under certain circumstances, as long as the conditions of the IVA continue to be met.

However, generally lenders will want the IVA to be settled prior to your new mortgage beginning, this can be for a few reasons.

  • Conditions set by IVA
  • Affordability
  • Lending criteria set by the lenders funders.

Once you have been discharged from your IVA (it’s been repaid), you will find yourself in a better position with the number of lenders that will now consider your application.

However, you can still expect to pay higher interest rates whilst the IVA is still showing on your credit file & insolvency register. 

The deposit you are likely to need with an IVA on your credit file is as follows:

  • 30% deposit – currently in an IVA or completed less than 12 months.
  • 25% deposit- completed over 12 months.
  • 20% deposit – completed over 24 months.
  • 5% deposit – completed over 36 months, providing no other negative markers on your credit file.
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