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IVA Mortgages with The Mortgage Geezer

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Don’t panic about getting a mortgage with an IVA

Entering an IVA (Individual Voluntary Arrangement) is an option for some people who are going through a tricky time financially. However, while an IVA may solve some of your problems if you are thinking of buying a home, you could start to worry that your IVA will get in your way. Instead of fretting discover how The Mortgage Geezer can help.

My team of specialist mortgage brokers who and I understand how an IVA, or having been in an IVA, can affect your chances of getting a mortgage. We also know that what you want is straightforward help, that explains your options clearly without the waffle.

The Mortgage Geezer works everyday with people like you and we use our relationships with IVA mortgage lenders to help them and you get a great IVA mortgage deal. Talking to one of our independent IVA mortgage advisors is the best way to start your journey to home ownership.

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How does an IVA affect your mortgage application?

Any prospective mortgage lender wants to be sure that you’re going to pay back the money they lend you. They can’t see into the future, so they’re only option is to look at your previous financial behaviour. Being in an IVA could be a bit of a red flag to lenders, but The Mortgage Geezer can help you overcome any difficulties.

Whether you have an IVA discharged on your credit report or are still in an IVA, we think that our expertise and experience can smooth the way of your mortgage application. In addition, as we’re whole-of-market brokers we’re not just tied to a small number of lenders.

Need advice? Call 01234 923603 to speak to The Mortgage Geezer

Lines Open: Mon-Thu: 9am – 5pm, Fri: 8am – 1pm.

What is an IVA?

An IVA (Individual Voluntary Arrangement) is a formal agreement between you and your creditors. IVAs are set up through Insolvency Practitioners and are approved by the courts. When you are in an IVA your debts are frozen, and creditors can no longer charge interest on the money you owe.

IVAs can’t be used for priority debts, such as rent arrears, but can be used to pay off debts you may have for things like credit cards or unsecured loans. They let you pay a fixed monthly amount over a pre-agreed period of time. This can give you a workable way to pay off some of your debts.

IVAs last between 5 and 6 years, although they can be extended, and when you reach the end of the IVA your debts are considered cleared. This is true even if the IVA didn’t cover everything you owed.

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What’s an IVA mortgage?

As with other types of mortgages aimed at people with a poor credit score, there aren’t really specific IVA mortgages. There are however deals that are available to people with either a current or past IVA. These mortgages are often provided by specialist lenders, although it may be possible to get a high street deal.

When you look for a mortgage with an IVA you will often find that interest rates are higher and you won’t be able to borrow as much, so you’ll need a bigger deposit.

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Why speak to The Mortgage Geezer?

The Mortgage Geezer is on your side. My team and I want to find all our clients a brilliant mortgage, even if you’re currently in an IVA, or have

Before you apply for a mortgage, contact us. Then an expert broker will find out exactly what you’re looking for and do the work for you. 

The team use their knowledge of the market to submit your application to the lenders that are most likely to offer you a deal. Lenders we know have a history of providing mortgage loans with an IVA. 

The Mortgage Geezer also understands that if you’ve been getting your financial act together using an IVA the last thing you want is to be hit with unexpected costs. So we won’t charge you anything until you’re happy with the deal we’ve found you. No charge for quotes and no hidden fees or charges.

Contact us online now, or give us a call.  

Need advice? Call 01234 923603 to speak to The Mortgage Geezer

Lines Open: Mon-Thu: 9am – 5pm, Fri: 8am – 1pm.

IVA mortgage FAQs

THINK CAREFULLY ABOUT SECURING DEBTS AGAINST YOUR HOME.  YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP WITH REPAYMENTS