An IVA (Individual Voluntary Arrangement) is a formal agreement to repay your debts over a set period. While active, an IVA severely limits mortgage options, but after discharge, specialist lenders may consider your application with a 15–25% deposit.
What Is an IVA?
An Individual Voluntary Arrangement (IVA) is a formal agreement with your creditors to repay debts over a set period (usually 5–6 years). It's managed by an insolvency practitioner and is legally binding. While active, you cannot take on new credit without your supervisor's written permission.
Getting a Mortgage During an Active IVA
This is the hardest scenario. You'll need:
- Written consent from your IVA supervisor
- A specialist lender willing to consider active IVAs
- Typically 25%+ deposit
- Evidence of consistent IVA payments
Very few brokers have the knowledge to navigate this — a whole-of-market broker is essential.
Getting a Mortgage After IVA Completion
Your options improve significantly once your IVA is discharged:
| Time Since Discharge | Typical Deposit | Options |
|---|---|---|
| 0–1 year | 20–25% | Limited specialist lenders |
| 1–3 years | 15–20% | More specialist lenders |
| 3+ years | 10–15% | Specialist + some mainstream |
| 6+ years (off credit file) | 5–10% | Most mainstream lenders |
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Frequently Asked Questions
- Can I get a mortgage during an IVA?
- It's very difficult but not impossible. You'd need written consent from your IVA supervisor and a specialist lender. Very few lenders offer this.
- How long after an IVA can I get a mortgage?
- Some specialist lenders will consider you immediately after discharge. More options open up 1–2 years post-discharge, with the widest choice after 3+ years.
- How long does an IVA stay on my credit file?
- 6 years from the date it was registered — regardless of when it's completed.
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