www.iva.co.uk

What realistically is the highest LTV Mortgage available to someone in an IVA ?

Realistically, if you are in an IVA you won't be able to get a mortgage.

I don't know of any lenders who are lending to people in IVAs right now, but this may change in future if the money markets release more money for lenders to actually lend. With a shortage of investment funding still available, lenders can afford to be choosy to who they trade with unfortunately.

I have been told 50% LTV mortgages are available at 8.5% variable. These products are obviously not much use to most people in IVAs and even so are still very expensive.

How times change - when I remember the amount of re-mortgage work you and I used to do Michael in the good old days. Whatever did happen to that broker friend of ours?!!!

Only a couple of years ago lenders were lining up to throw money at people. Money to settle IVAs, for one off IVAs, to discharge bankruptcy etc was all available and at reasonable rates. I had one client who borrowed £405,000 which was 90% loan to value on a self cert basis. The lender knew the extra funds were to fund a one off IVA and once it was accepted we got the money to clear it.

Try and get that now!

There are a couple of 2nd charge lenders who will settle DMP and IVA`s but as mentioned above you will need to have an awful lot of equity in your home to do this i am afraid, And then you will only be borrwing at a very high rate.

Lee