Getting a mortgage after an IVA, DMP or bankruptcy
Getting a mortgage after an IVA, a debt management plan or bankruptcy is possible, and the choice of lenders widens with time. Here is when, how lenders see each, and a checker for where you stand.
Quick answer
A mortgage after an IVA is usually possible with specialist lenders from about a year after it completes, with more lenders from around three years, and most lenders once it drops off your credit file after six years. You will need the completion certificate from your insolvency practitioner.
While an IVA is still running, very few lenders will consider you. A debt management plan is viewed more favourably, and some specialist lenders will consider you after a year of steady payments.
Updated today
After an IVA completes
- 1 yearSome specialist lenders.
- 3 yearsSome high street lenders too.
- 6 yearsOff your file; most lenders.
A mortgage after an IVA, checked in Theo
Add your IVA, DMP or bankruptcy, and anything else on your file, and Theo shows where you stand and roughly when more lenders could consider you. No credit search is run.
Have these ready
- CertificateIVA completion, or bankruptcy discharge.
- StatementsProof of steady payments since.
- DepositLarger deposits widen the choice.
Only defaults or CCJs?
See bad credit mortgages.
IVA, DMP and bankruptcy compared
| While it is running | Once it has finished | |
|---|---|---|
| IVA | Very few lenders | Specialists from about 1 year, more from 3 |
| Debt management plan | Some specialists after 12 months of payments | More lenders from about 1 year |
| Bankruptcy | Very few lenders until discharged | Specialists from about 1 year after discharge |
Time widens the choice
Each year after completion usually brings more lenders and a smaller deposit.
Mortgage after an IVA checker
Nothing here runs a credit search. Add your IVA, DMP or bankruptcy, and anything else on your file.
Your home may be repossessed if you do not keep up repayments on your mortgage.
A mortgage after an IVA
An Individual Voluntary Arrangement is a formal agreement to repay part of your debts, usually over five or six years. While it is running you need your insolvency practitioner’s agreement for new borrowing, and very few lenders will consider you. Once it completes, keep the completion certificate safe: lenders will ask for it. Specialist lenders may consider you from about a year after completion, more lenders from around three years, and most once it falls off your credit file six years after it started.
A mortgage with a debt management plan
A debt management plan is an informal arrangement to repay debts at a rate you can afford. It is viewed more favourably than an IVA. Some specialist lenders will consider you while a plan is still running if you have kept to it for at least a year, and more once it has finished. The debts in the plan often show as defaults, which stay on your file for six years.
A mortgage after bankruptcy
Bankruptcy is usually discharged after a year. Until then, very few lenders will consider you. Some specialist lenders may consider you from about a year after discharge, usually with a larger deposit, and the choice widens over time. Bankruptcy stays on your credit file for six years from the date it began.
What helps
A clean record since, with every payment on time. A larger deposit. Registering to vote, and checking your credit file is accurate and shows the arrangement as completed. Avoiding several applications at once. Many lenders that consider this history only work through brokers, so an adviser can match you before any search. See bad credit mortgages.
If you are still struggling
If you are finding it hard to keep up with payments now, speak to a free debt adviser before taking on new borrowing. MoneyHelper (moneyhelper.org.uk) can point you to free, confidential help. Your home may be repossessed if you do not keep up repayments on your mortgage.
Common questions
Can I get a mortgage after an IVA?
Can I get a mortgage during an IVA?
Can I get a mortgage with a debt management plan?
How long after bankruptcy can I get a mortgage?
What documents will I need?
Keep exploring
Theo App Ltd is not authorised by the Financial Conduct Authority and does not give mortgage advice. This page is information only and is not a recommendation. A general guide, not a decision or an offer. Your home may be repossessed if you do not keep up repayments on your mortgage. Speak to an FCA-authorised mortgage adviser about your own circumstances.
Your home may be repossessed if you do not keep up repayments on your mortgage.