- Tuesday, 28 April 2009People who are mired in debt might think they are more likely to get an IVA than a foothold on the property ladder.
Credit reference agency Experian tells MSN Money of the impact
IVA help can have on an individual's ability to access lending.
While those who get an IVA could be unlikely to secure a mortgage while clearing their debt, they could subsequently find their access to borrowing improved.
"Lenders want to see that you can comfortably afford to make new repayments," Experian tells MSN Money.
"So the less you owe, the more likely you are to get the deal you want."
As a result, once an IVA is over and cleared from their credit history, Britons could find their dream of homeownership is easier to realise.
Existing homeowners could also find
IVA help protects their property by allowing them to release part of the equity held in their house rather than being forced to sell it.
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