Can I get a mortgage with a bankruptcy or IVA?

Current IVA

It is possible to get a mortgage with a current Individual Voluntary Arrangement (IVA). This will normally be a remortgage with some, or all, of the capital raised being used to settle the IVA - but this will depend on the terms of your arrangement. Not all lenders will offer this facility and the ones that do require a satisfactory IVA service record with at least a 12 month record. You will also need considerable equity in your property to ensure you fall within the low loan to values that are normally offered by lenders.

History of an IVA and bankruptcy

If you are in a bankruptcy you are probably already aware of the severe restrictions that have been placed on you regarding credit. However, once you have been discharged for a number of years more lenders will be open to considering lending you money. This will depend on your circumstances.

What if you have other bad credit

If you have other bad credit registered on your credit report it is important you get in touch so we can start checking your eligibility for any mortgage application. It is important your application, or next application, is with the best mortgage option to dramatically increase your chances of being approved for a mortgage.

What now?

Simple, get in touch. Before you do you may want to enquire about your credit file as your mortgage adviser will more than likely ask you for it as it will form part of his research in finding your best mortgage choice. As with all mortgages there is no guarantee you will be accepted for mortgage following application but going through Lawrie Mortgages and letting us help you make the best mortgage choice will greatly increase your chances. Any successful mortgage application will rely on your own personal circumstances which will include your income and affordability as assessed by the respective lender underwriting.

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