1 year discharged IVA – EXCLUSIVE Adverse Credit Mortgage

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An Adverse Credit Mortgage is one of our specialities at Mortgage Success and we are really happy to announce that we now have access to a Mortgage for people who are discharged from their IVA for just 1 year.

Historically you would have to have been discharged for 3 or more years to be considered for a mortgage following an IVA but owing to our research and our constant review of the adverse mortgage market and the most lenient lenders, that is no longer the case.

During 2017 the number of people starting an IVA increased nearly 20% compared with 2016 and as such it was the highest annual level of IVAs ever recorded. Furthermore, 17,813 IVA’s were started in Q3 alone of 2017 and the figures for 2018 do not fair any better with 15,413 in the first 3 months.

Given that 3 of the 4 highest quarterly figures for IVA’s in the last 9 years have been the last 3 consecutive quarters the adverse mortgage market will continue to see an increasing amount of borrowers who have become victim to uncertain times. This presents a challenge to the mortgage market and whilst the high street lenders flatly refuse to entertain such cases it is brokers and independent mortgage advisors such as ourselves that are a lifeline to those with less than perfect credit histories.

However, given the adverse credit challenges, it is encouraging that there is still much hope for people whom have been dealt a blow to their finances, gotten through it and now wish to move forward with an adverse credit mortgage as there is a lender who has launched this 1 Year IVA mortgage product for recently satisfied IVAs through a couple of select brokers, of which Mortgage Success are one.

To find out out more about the 1 year discharged IVA Adverse Credit Mortgage, please do give us a call where we would be happy to discuss your options in detail.