IVA homeowner loans -Advice, homeowner loans, information and guides from homeowner loan brokers. If you have an IVA lodged against you, obtaining a homeowner loan can be more difficult. Find advice, information and guides on IVA homeowner loans, homeowner loans with CCJ's, information on poor credit and bad credit homeowner loans, advice on homeowner loan arrears, guides on homeowner loans with county court judgements and solutions for bad credit homeowner loans through specialist homeowner loan brokers.

An IVA is an Individual Voluntary Arrangement. IVAs are an alternative possibility for people who have run into financial difficulties and who might otherwise have to declare themselves bankrupt.

An IVA is a formal repayment proposal made to your creditors (i.e. the people or businesses you owe money to). An IVA is undertaken with the help of a licensed Insolvency Practitioner.

to begin with, a meeting of your creditors takes place and if enough of them vote in favour of the proposal, then the IVA is accepted.

IVAs were introduced by the 1986 Insolvency act. Since IVAs were introduced, a large number of people have entered into IVAs rather than going down the route of petitioning for their own bankruptcy.

One of the big problems with IVAs is that once you are under an IVA (or have been subject to an IVA in the past) then it becomes much harder to obtain a homeowner loan or any other form of credit.

As a result, taking out a homeowner loan with an IVA can be very difficult.

Fortunately, the specialist homeowner loan advisers we work with at Divadani Loans can usually arrange homeowner loans for people with IVAs. Thanks to their specialist knowledge of the UK homeowner loan market, they know which banks, building societies, and other secured loan lenders are likely to look most favourably on a homeowner loan application from someone with an IVA.

To find out more, please complete our online enquiry form.


HOMEOWNER LOAN GLOSSARY

Arrangement Fee
A fee which is sometimes payable to the homeowner loan lender when you opt for a special deal, such as a capped, discounted, or fixed rate homeowner loan.

Base Rate Tracker Loan
See Tracker Homeowner Loan.

Capital & Interest Loan
See Repayment Loan.

Capped Rate Homeowner Loan
A homeowner loan where the interest rate is capped at a certain level for a set number of years. The interest rate can go up and down, but is guaranteed not to exceed this level during the capped rate period.

Cashback Homeowner Loan
A homeowner loan which gives you a cash lump sum on completion.

Discounted Rate Homeowner Loan
A homeowner loan where you get a discount on the interest rate during the initial special offer period.

Early Repayment Penalty
See Redemption Penalties.

Fixed Rate Homeowner Loan
During the fixed rate period, the interest rate on this type of homeowner loan stays the same, regardless of changes in the Bank of England base rate. This means your monthly homeowner loan repayments are the same each month even if interest rates go up or down.

Flexible Homeowner Loan
A flexible homeowner loan allows you to make overpayments and take payment holidays. These can be especially attractive for self-employed borrowers whose income may fluctuate throughout the year.

Redemption Penalties
If you repay your homeowner loan early, or switch lenders, whilst on a special homeowner loan deal, you may have to pay a redemption penalty to the homeowner loan lender.

Repayment Homeowner Loan
With a repayment homeowner loan, part of the amount you pay each month covers the interest on the loan and part goes towards repaying the homeowner loan capital.

Standard Variable Rate homeowner loan
The interest rate on a standard variable rate (SVR) homeowner loan can go up or down during the course of the loan. Sometimes, the rate will remain unchanged for months at a time, but at other times it may fluctuate from one month to the next. The SVR charged by homeowner loan lenders is determined mainly by the Bank of England base rate, which is reviewed once a month. When the Bank of England changes the Base Rate, homeowner loan lenders will usually (but not always) adjust their SVR up or down accordingly.

Tracker Homeowner Loan
When you have a tracker homeowner loan (also known as a base rate tracker homeowner loan) the interest rate is guaranteed to move up and down in line with the Bank of England base rate. Consequently, it will always be a set number of percentage points above (or sometimes below) the Bank of England's base rate.