You are unlikely to get a new mortgage on an individual voluntary arrangement (IVA).
Your mortgage is not usually included in your IVA.
- You need to keep making normal payments
- Contact your IVA supervisor if your payments change
- For example, because of an interest rate change
- They can adjust your IVA payments
IVAs are arranged by StepChange Voluntary Arrangements, part of StepChange Debt Charity.
You cannot take out more than £500 of credit while in an IVA, unless you get written approval from your Supervisor.
It may be hard to a find a lender who is willing to give you a new mortgage during your IVA.
Discuss any mortgage decisions with your insolvency practitioner.
An IVA can impact your personal, professional and financial life. There are many risks to consider with an IVA.
Read our guide to your IVA and credit rating.
Our mortgage debt advice team may be able to help you
We will look at your budget and explain which debt solutions could be right for you.
StepChange Financial Solutions team give advice on mortgage and equity release. Find out if these are options for you.
StepChange Financial Solutions is part of StepChange Debt Charity. The UK’s only free charity-owned mortgage and equity release advice service.
Our service is always free and unbiased. Call us on 0808 1686 719. Monday to Friday, 9am to 5pm.
Find out more about our mortgage and equity release service
Is an IVA right for you?
There are no up-front fees, and we do not charge you for debt advice.
Fees are set by your creditors once your IVA is set up.
Clare Lindley and James O'Carroll of StepChange Voluntary Arrangements are licensed to act as insolvency practitioners in the UK by the Insolvency Practitioners Association.