possible to get a mortgage with IVA ?

[bev.t30]

I already have an IVA. Is it still possible to get a mortgage even though I have an IVA?

[james.c]

yes but interest rate will be higher and not from the high street lenders

[Andrew Graveson]

Hi bev,

In practice there are many lenders prepared to lend to those in IVA's.

Availability and the rate that you might pay depend entirely on your unique personal circumstances.

[MelanieGiles]

hi bev and welcome to the forum

This is such a frequently asked question on the forum, I am going to ask Andy to get Andrew Graveson or Tony Parsons to write an article to cover this very subject, Andy - job for the boys!

You can get a mortgage whilst in an IVA, so long as you have a deposit to place down which has to come from funds other than your own. In reality this will probably need to be between 15% and 20%, and I hope Andrew will be around later to give a little better advice as this is his area of expertise.

Just to add that you will also need your IP's permission to take out the mortgage, as this is a form of ongoing credit, and the mortgage payments should not disturb your ability to fund your IVA payments.