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If you’re currently in an Individual Voluntary Arrangement (IVA), getting a mortgage is technically possible, but in practice, it’s almost never approved.
Lenders see an active IVA as a high-risk situation and will usually wait until it has finished before considering an application. Even then, they’ll want to see evidence that your credit profile is improving.
Why Lenders Usually Wait Until an IVA Has Ended
Mortgages are classed as high-value borrowing, which is usually outside the limits set by an IVA. Most IVA agreements ask for written approval before any new borrowing over £500.
Even with approval, lenders see an active IVA as a clear sign of risk. For that reason, it is extremely rare for any lender to agree.
Rather than pursuing something that is likely to be rejected, it is usually better to focus on building up your credit position for the future.
Most mortgage lenders will want to see financial stability and no recent adverse history before they will take you seriously.
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What Happens After Your IVA Ends
Once your IVA has finished and is marked as complete, it will stay on your credit file for six years from the start date.
Your credit score can still reflect the IVA for a while after it ends. Most mainstream lenders won’t consider an application until the IVA is off your record entirely.
If you’ve kept up with your payments and have no other recent defaults, you might find that a mortgage broker in your area could point you towards a specialist lender.
These lenders may still charge higher interest rates and ask for a larger deposit, particularly where there’s a history of mortgages with bad credit, but it may be possible depending on your circumstances.
This would only apply once your IVA is fully complete and after significant work to rebuild your credit record. Your credit score can still reflect the IVA for a while after it ends.
Focus On Repairing Your Credit
Rather than rushing into a mortgage application, this could be the time to focus on rebuilding your credit profile.
Make sure any previous debts are marked as settled, and only take on new credit if it’s truly necessary.
Any credit you currently have should be managed steadily, with payments made on time each month to show consistency.
Small steps can make a difference. Being registered at your current address, keeping your personal details up to date, and staying consistent with bill payments can all help build trust with future lenders.
Over time, these patterns show that you’re able to manage money responsibly, which is what most mortgage lenders want to see.
If you’re looking for simple ways to get started, we’ve shared some general tips in our article on ways to improve your credit score.
This can be a helpful reference point if you’re planning ahead for a mortgage after your IVA has ended.
