In an active IVA with 2 years remaining. Three brokers had said it was impossible. Darryl arranged a remortgage and released equity in 6 weeks.
An active IVA is one of the most complex adverse credit situations for mortgage purposes. Many lenders will not consider applications from borrowers currently in an IVA, and mainstream brokers often lack the specialist lender relationships needed to place these cases.
The added complexity here was self-employment income — the client paid himself through a combination of salary and dividends, which required a lender comfortable with both the IVA and the income structure simultaneously.
The IVA Supervisor also needed to be consulted, as releasing equity during an active IVA can have implications for the IVA terms — this added a layer of process most brokers are unfamiliar with.
Darryl identified a specialist lender with a specific product designed for borrowers in active IVAs. Unlike high street lenders, this lender manually reviewed the full application — considering the purpose of the equity release (to clear the IVA early), the client's income stability, and the loan to value ratio.
Darryl coordinated with the IVA Supervisor to ensure the equity release was properly documented and would be applied to the IVA balance. This proactive communication with the IVA Supervisor — unusual for a mortgage broker but essential in this case — was what allowed the application to proceed.
The self-employment income was presented using 3 years of accounts plus SA302s, demonstrating stable and growing earnings that justified the lending despite the IVA.
Darryl reviews every case personally and responds within 2 hours. Free assessment — no credit search, no obligation.
The Mortgage Geezer is a trading style of Access Financial Services Limited, authorised and regulated by the Financial Conduct Authority — FCA No. 301173. Registered in England No. 04427489. Your home may be repossessed if you do not keep up repayments on a mortgage.