Bad Credit Mortgages we offer:

IVA Mortgages

If you have an IVA, you may struggle to get a mortgage from high street lenders. However we do have a large panel of specialist mortgage lenders at The Money Hub that may be able to help.

Our team of experienced mortgage advisers can help clients that have bad credit history such as missed payments, defaults or Individual Voluntary Arrangements.

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Bad Credit Mortgages we offer:

IVA Mortgages from The Money Hub

Are you in an IVA, or have you ever been in an IVA and are now looking for a mortgage? If you have answered yes to either of those points, then The Money Hub are here to help you. As expert IVA mortgage brokers, we help clients that are currently in or have previously been in an IVA to access an exclusive range of products from specialist lenders.


What is an IVA?

An Individual Voluntary Arrangement (IVA) is a formal and legally-binding agreement between you and your creditors to pay back you debts over a period of time. IVAs are usually arranged by insolvency practitioners. The IVA must then be approved by a court and then recorded on the Insolvency Register, this will show on your credit report, as you having entered into an IVA for any creditors, that you are looking to pay back, through this arrangement.

An insolvency practitioner will arrange the IVA by assessing your financial situation, they will produce a payment plan for you, that suits your needs and your affordability. They will also consider your creditors, the amount owing to them and what theyre hoping to achieve from your IVA. It may be that they agree a certain figure – full and final settlement figure. This may be a reduced amount once this is paid off. Officially they will not be able to contact or harass you for payment, and this in turn will greatly reduce the stress that goes along with having outstanding debts and subsequently resulted in an IVA. This arrangement usually lasts around 5 years – they may agree a shorter term, but this is all subject to your particular circumstances. Also for your benefit, the interest on the debt will be frozen so you will not accrue any further charges.

The agreed figure for the debt will then be paid on a monthly basis to the insolvency practitioner, who will pay your creditors, whilst deducting their own fees. They do charge a fee for this service and there are various agencies that may not charge a fee.

If there is any remaining debt, once the period of the IVA has ended and you have kept to all parts of the agreement, it is usually then written off. At the end of the IVA, you will no longer owe your creditors any money. The record of your IVA should then be officially removed from the Insolvency Register, and you will receive notification of this from them.

It is imperative that you keep to the agreement of the IVA as you may find the mortgage brokers specialist advisor, may need to see a record of the payments over a period of time.

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What to Expect from The Money Hub

We Gather Information Required to Search the Market

We gather some basic information about you using our quick online form

Conduct a Whole of the Market Comparision

We will search 100’s of providers to find you the lenders who are willing to approve your mortgage

Provide full service through to completion

We will show you rates along with the monthly repayments. This will not affect your credit score. We’ll also explain any fees if you progress at this point and as long as you are happy to proceed, provide you with the full service through to completion of your mortgage being accepted

What our Customers think about us

IVA Mortgages

Product Name: Mortgages

Product Description: IVA Mortgages

  • Rating
5

Joe

Gary has been brilliant throughout the whole process. Very knowledgeable, helpful and efficient. The service provided as a whole, has been excellent, 10/10.