A Mortgage After an IVA, Question by Question
When it becomes realistic, and what improves your chances.
Can I get a mortgage after an IVA?
Yes. An IVA is not a permanent barrier to a mortgage. Many people buy a home after completing one. It comes down to timing, how long since the IVA finished and dropped off your file, the size of your deposit, and how well you have rebuilt your credit. With those in good shape, a mortgage is a realistic goal rather than a distant hope.
How soon after my IVA can I apply?
Specialist lenders may consider you within a year or two. Some lenders will look at applicants a year or two after an IVA completes, even before the marker has fully cleared, usually wanting a larger deposit and a clean record since. Mainstream lenders become realistic once the IVA drops off your file. So the timeline ranges from a couple of years to a bit longer, depending on the lender.
When does the IVA stop counting?
Six years from the start date. The IVA stays on your credit file for six years from when it began, not when it finished, so for most people it clears within about a year of completion. Once it has gone, lenders no longer see the IVA itself, and your application is assessed much more like anyone else's, on your income, deposit and recent record.
How big a deposit will I need?
Usually larger than standard, at first. Soon after an IVA, lenders often look for a bigger deposit, frequently 15% or more, to offset the perceived risk. As your record rebuilds and the marker clears, the deposit required falls back towards normal levels. A larger deposit also opens up more deals and better rates, so saving hard helps on several fronts.
What helps my chances?
Time, a deposit, and a clean record. The further you are from the IVA, the larger your deposit, and the cleaner your credit since, the better your options and rates. Registering to vote, paying everything on time and using a little credit responsibly all rebuild your profile. Lenders want to see that the IVA is firmly behind you and your finances are now stable.
Should I use a specialist broker?
It usually helps a great deal. A mortgage broker experienced in post-IVA lending can match you to lenders likely to accept you, avoiding rejections that can themselves harm your credit. They know which lenders view a completed IVA favourably and what deposit and history they expect. For many people, good broker advice is the difference between a smooth application and repeated knock-backs.
Is this the same as buying a house after an IVA?
Closely related, yes. Getting a mortgage is usually the route to buying a home after an IVA, so the two go hand in hand. Our guide on buying a house after an IVA covers the wider picture, deposits, timing and rebuilding, while this page focuses on the mortgage itself. Together they give you the full picture of becoming a homeowner again.
Should I get advice?
Yes, both now and nearer the time. While you finish your IVA, free debt advice can help you complete strongly and rebuild credit. When you are ready to buy, a specialist mortgage adviser can map out a realistic plan. Knowing the steps early, deposit, timing, credit, lets you work towards a mortgage with confidence rather than guesswork. It costs nothing to start.
