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Mortgages and IVA

Universal can help you with an IVA mortgage. We have a range of products and services available.

An IVA will impact your credit rating, which will in turn affect your ability to get further credit. This includes a mortgage.

The good news, however, is that Universal are specialists in IVA mortgages for those who have entered into an IVA.

There are several lenders we use for IVA mortgages.

The difficulty with an IVA is that it does not simply affect your credit rating while it is in effect, it also remains on your credit record for six years after it has been satisfied, just as a bankruptcy would do.

This can make it very difficult to get a mortgage other than IVA mortgages.

A specialist lender providing IVA mortgages will look at when your IVA was satisfied, and lending conditions vary.

A lender will take arrears, CCJs etc into account, as well as your repayment record.

Rates for IVA mortgages are higher than for regular mortgages, as a borrower is classed as high risk due to their previous debt.

But IVA mortgages are a means of obtaining a mortgage, and can restore your credit rating to good standing so you can remortgage in the future to a more attractive rate.

Contact Us today and we can discuss your options.

Mortgages: The overall cost for comparison is 8.9% APR.
The actual rate available will depend upon your circumstances. Ask for a personalised illustration. APR variable and based on a usual case.
Loans: Typical 12.9 % APR (variable)

Fees charged on completion vary according to the sum borrowed and can be included in the total sum of the mortgage, and in which case will accrue interest. £2,500 is an indication of our average fee.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.