Here are some articles written specifically about obtaining a mortgage whilst on an IVA. We hope you'll find this information useful.
Can I include my mortgage in my IVA?
An IVA will can only tackle unsecured debt problems and, unfortunately, mortgages are a type of secured debt. As a result, an IVA will not be able to rid you of your mortgage debt or your obligation to maintain the repayments upon it.
However, if your mortgaged property has been subject of a voluntary repossession where you've handed the keys back to the mortgage lender, or a repossession order, where your mortgage company has forcibly repossessed your property, then things are different. If the property is sold for less than the outstanding value of the mortgage, then a shortfall is created and the shortfall can be included in an IVA.
There are mortgages available for people in an IVA. If you are in an IVA and currently renting your home, the opportunity to buy your own property might be something you want to explore. Well, there are specialist IVA mortgage providers still in the market for IVA business.
Mortgages for IVAs
Trying to find out what mortgages are available to people in an IVA? This article explains the various mortgages that are available and highlights the details of each product.
Can you get a mortgage with an IVA?
A popular question with a detailed answer. A good starting point in the process of what things you might need to consider if you're thinking of applying for a mortgage
Can I include my mortgage in an IVA?
Here we explain why an IVA will be given priority status by your IVA and we take a look at those circumstances where an IVA can be used to tackle mortgage shortfalls caused by repossession.
What is equity?
Here we explain what equity is, and why it's so important to understand the affect being insolvent might. Helping you to keep one step ahead of your creditors.
Getting a mortgage with an IVA
If your are in an IVA and considering getting a mortgage, then this article will help you understand the obstacles you'll be up against and how to make sure there are no nasty surprises.