Mortgage after an IVA, but partner has good credit?1 min read


An IVA is a kind of debt management solution that can help you to take back control of your spending. It is seen as a preferable option to bankruptcy for both creditor and debtor. It’s also easier to mend your credit report after you have cleared an IVA. Securing a mortgage after an IVA might be a little more difficult, but it is in no way impossible. Just because one lender has said no, it doesn’t mean that all lenders will say no.

An IVA will stay on your credit report for six years, regardless of how long your agreement is. So, if your agreement is five years long, the IVA will still be on your report for 12 months after completion. After this, it will drop from your credit report and you can begin to build your credit score again. If you would like to take out a mortgage in this time, it may be possible to do so if your partner has good credit.

Your credit score is just one factor that lenders will look at when making a mortgage decision. In some cases, a lender will immediately reject you if you have an IVA on your record, even if you have successfully completed. Others will look at your entire profile, including evidence of earnings and the size of your deposit. You should always shop around for a lender that will work with individuals with an IVA. Your partner’s good credit score may even be enough to allow them to secure a mortgage on their own.

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