Will my landlord be told about my IVA?

Upon entering an IVA, your landlord is not directly notified about the agreement. However, your information will appear on a public record called the Individual Insolvency Register.

Although accessible to the public, this register is typically only examined by creditors and credit reference agencies, and it is not visible in standard online name searches. As a result, it is not likely that your landlord will discover your IVA unless you begin to fall behind on rent payments and accumulate arrears.

It is essential to note that if you include current rent arrears in your IVA, your landlord will be informed and might be hesitant to renew your tenancy agreement.

Can I rent a new property during an IVA?

It’s well-known that an Individual Voluntary Arrangement (IVA) or other debt solutions can negatively affect your credit score, potentially influencing your approval for a new rental property during the agreement. However, this is typically only a concern if your landlord conducts credit checks before signing a tenancy agreement.

When seeking a new rental property during an IVA, being transparent about your financial situation with potential landlords is crucial. By doing so, you can reassure them of your ability to make monthly payments and demonstrate your honesty.

If you plan to rent with someone who is not in an IVA or have a guarantor willing to support your application, this could increase your chances of acceptance. Additionally, before beginning your search for a new rental property, consider whether you can afford the expenses associated with moving, such as security and rent deposits.

Staying in your current rental agreement until the IVA concludes might be a more financially sensible option in the long run.

Can I get a mortgage after an IVA?

Renting a property and obtaining a mortgage are common concerns for individuals with IVAs. However, if you’ve successfully completed an IVA and made your monthly payments without any issues, it is possible to secure a mortgage.

Keep in mind that your financial circumstances and the reasons for your initial debt will play a role in this process. Most financial experts recommend waiting until your IVA is removed from your credit report and your credit history has improved before applying for a mortgage, as this can increase your chances of approval.

Where can I get more advice on IVA’s, and the debt help available?

Explore your financial options and receive the assistance you need to manage your debt by reaching out to us at IVA Helpline. Call us now at 0800 464 7235 or click the ‘check if you quality’ button.