If you have entered into an Individual Voluntary Arrangement, known as an IVA, or a Debt Management Plan, you may be unsure whether a mortgage is possible.
These arrangements can make getting a mortgage more complex, but they do not always mean you have no options. Lenders will usually want to understand the type of arrangement, when it started, whether it has been completed, and how your finances have been managed since.
Can I get a mortgage with an IVA or DMP?
It may be possible to get a mortgage if you have had an IVA or Debt Management Plan, but lender criteria can vary significantly.
Some lenders may only consider your application after the arrangement has been completed for a certain period. Others may look at your case if there is strong affordability, a suitable deposit and a clear record of keeping to agreed payments.
What lenders may look at
A lender may consider:
- Whether the IVA or DMP is active or completed
- When the arrangement started
- Whether payments have been maintained
- Whether any debts have since been settled
- Your current credit file
- Your deposit amount
- Your income stability
- Your monthly affordability
Why preparation is important
Applications involving an IVA or DMP usually need careful preparation. You may be asked for documents showing your income, bank statements, details of the arrangement, confirmation of payments, and evidence that your finances are now stable.
Getting advice early can help you understand whether it is better to apply now or wait until your circumstances are stronger.
How Just Mortgages can help
Our Adverse Credit Solutions Team understands that financial difficulties can happen for many reasons. We will review your situation without judgement and help you explore mortgage options that may be available through specialist lenders.
Talk to Just Mortgages about mortgage options after an IVA or DMP
Mortgage with an IVA or Debt Management Plan FAQs
Can I get a mortgage with an IVA?
It may be possible to get a mortgage after an IVA, although lender options can be limited. Many lenders will want to know whether the IVA is active or completed, when it started, whether payments were maintained and how your finances look now.
Can I get a mortgage while in a Debt Management Plan?
Some lenders may consider applicants in a Debt Management Plan, but it can be more complex. They will usually look at affordability, payment history, outstanding debts and whether the plan is being maintained.
Is it easier to get a mortgage after an IVA has finished?
In many cases, yes. A completed IVA may give lenders more confidence than an active one, particularly if you have maintained stable finances since completion. However, criteria vary between lenders.
How long after an IVA can I apply for a mortgage?
There is no universal rule. Some lenders may require a certain amount of time to pass after the IVA has been completed, while others may consider the application sooner depending on the circumstances.
What documents might I need?
You may need proof of income, bank statements, details of the IVA or Debt Management Plan, evidence of payments, confirmation of completion where applicable and a copy of your credit file.
Will an IVA or DMP affect how much I can borrow?
It may do. Lenders will assess your affordability carefully, including your income, regular commitments and any remaining debts. The arrangement may also affect which lenders are available.
Can Just Mortgages help with an IVA or DMP?
Yes. We can review your circumstances, explain what lenders may consider and help you understand whether now is the right time to apply.