If you’re currently in an Individual Voluntary Arrangement (IVA), or you have previously entered one, you may feel uncertain about your mortgage options. At CRC Mortgages, our expert team understands the complexities involved in obtaining a mortgage while in or after an IVA. If you’re based in Liverpool or the surrounding areas, our experienced mortgage brokers are here to provide clear, comprehensive guidance tailored specifically to your circumstances.
Many borrowers mistakenly believe that having an IVA prevents them from securing a mortgage. While having an IVA can present challenges, with the right preparation and mortgage advice, obtaining a mortgage in Liverpool is still possible. At CRC Mortgages, we have experienced brokers who regularly help clients navigate the unique complexities of IVA mortgages, aiming to make the process as straightforward and transparent as possible.
Can I Get a Mortgage With an IVA in Liverpool?
Securing a mortgage with an IVA is possible, though there are additional considerations to take into account. Many high street banks or mainstream lenders are typically cautious when it comes to IVA applications, often regarding them as a higher risk scenario. However, there are specialist lenders available who specifically cater to applicants with IVAs or previous financial difficulties.
Our mortgage advisors have extensive experience helping clients in the Liverpool area understand the criteria required by specialist lenders. Factors such as your credit history since the IVA, the deposit amount, income and affordability will all play a crucial role in a successful application. Our brokers will carefully assess your situation and assist you in approaching lenders who are more likely to be sympathetic to your circumstances.
YOUR HOME/PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR OTHER DEBT SECURED ON IT
The FCA does not regulate some forms of Buy to Lets. Think carefully before securing other debts against your home/property.
There may be a fee for mortgage advice. The precise amount of the fee will depend upon your circumstances but will range from £449 to £699 and this will be discussed and agreed with you at the earliest opportunity.
If you would like to speak with an adviser,
please contact us below.
Remortgaging With an IVA in Liverpool
If you currently have an existing mortgage and are looking to remortgage whilst in an IVA, there may be additional challenges or restrictions involved. However, that doesn’t mean you can’t achieve your goal. Our Liverpool-based mortgage advisors have supported many clients navigating this process. We can clearly explain your options, highlighting opportunities to remortgage as favourably as possible given your IVA situation.
By discussing your individual situation in detail, our experienced brokers will help you identify suitable remortgage products from lenders known to consider IVA cases. Our goal is to help you secure a manageable, affordable mortgage deal, carefully aligned to your individual circumstances and financial goals.
Why Choose Our Mortgage Brokers Liverpool?
At CRC Mortgages, our dedicated brokers are committed to providing clear, honest and helpful mortgage advice to every client. Being based in Liverpool, we pride ourselves on our deep understanding of the local property market and the unique challenges local residents may face, particularly when they have complicated financial situations such as an IVA.
Our friendly and approachable advisors always focus on your individual requirements and aim to make the process of obtaining a mortgage as straightforward as possible. We understand your concerns and carefully assist you through every stage, clearly explaining the available options, potential lenders and helping you achieve a solution that fits comfortably with your financial circumstances.
We firmly believe that a financial setback should not define your future prospects, especially when it comes to achieving homeownership or refinancing your current home. Our advisors have considerable experience in IVA mortgage applications, and we use this knowledge to help guide you as reliably as possible.
FAQs About IVA Mortgages Liverpool
How long after an IVA can I apply for a mortgage?
Typically, lenders will look more favourably upon your application once the IVA has been completed and shows consistent positive credit behaviour over several years. However, there are some lenders who may consider applicants who are still within their IVA or immediately after completion, depending on the circumstances.
Will an IVA affect my ability to secure a good mortgage rate?
An IVA will affect your credit score and thus potentially limit your mortgage product options. While you may face higher interest rates or more restricted mortgage loan options initially, demonstrating improved financial responsibility over time may help you access more competitive mortgage deals further down the line.
Do I need a larger deposit with an IVA?
In most cases, mortgage lenders who accept IVA applicants will ask for a larger deposit to offset risk. Generally, this can range from 10–30%, though it varies greatly depending on individual lenders and your specific circumstances.
Is it possible to remortgage to pay off my IVA?
While challenging, it can be possible under certain situations. Our advisors will clearly assess your current financial position, explore potential lending criteria and discuss whether remortgaging is a viable option for repaying an IVA in your individual case.
How can a mortgage broker help me with an IVA mortgage?
Specialist mortgage brokers, such as CRC Mortgages in Liverpool, have extensive knowledge and understanding of lenders who consider IVA cases. Our advisors assist in clearly defining your options, guiding you with lender choices and assisting your mortgage application process, aiming to improve your likelihood of a successful outcome.
If you live in or around Liverpool and need mortgage advice regarding your IVA, CRC Mortgages is ready to assist you. Contact our experienced local advisors today and take the first step toward making your property ownership dreams a reality.