IVA : What Is A Capital And Repayment Mortgage?

A "Capital and Repayment" mortgage is a mortgage where the mortgagee makes monthly repayments, part of which includes a repayment of the capital borrowed as well as a repayment to the interest of the total mortgage loan.… Read more

An "Interest Only" mortgage is a mortgage where the mortgagee's monthly repayments only repay the interest due on the outstanding loan, at a prearranged interest rate.… Read more

Individual Voluntary Arrangements, or IVAs are private arrangements between a debtor and their creditors. Individual Voluntary Arrangements (IVAs) are listed as a matter for the public record on the Insolvency Services IVA Register.… Read more

How do people with property manage to get mortgages when they are in an IVA? After all, isn't an IVA supposed to stop people borrowing more money?… Read more

Due to the fact that a mortgage is a secured debt, it cannot be included as a debt within an IVA proposal.

None payment of a mortgage could result in a property being repossessed, therefore top priority should given to the mortgage repayments, above other 'non priority' debts such as loans or credit card payments.

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How can I get a mortgage whilst on an IVA? Good question! Arranging a mortgage is difficult enough when finances are tight, so it would seem impossible to be able to arrange a mortgage when you are actually in an IVA, but it isn't.… Read more