Five Reasons NOT To Get An Adverse Credit IVA Mortgage
There are plenty of people around to tell you why you may need an adverse credit IVA mortgage, but what if you don't need one? Here are five reasons why you may not need an adverse credit IVA mortgage.
1. You pay all your bills on the due date.
If you pay all your bills on time you will probably never need an adverse credit IVA mortgage. That's because people who get an adverse credit IVA mortgage usually have had some difficulty paying their bills in the past. This doesn't make them bad people, just people who are struggling with personal credit and personal debt like many of us do.
2. You have never left the country.
One of the contributors to bad credit scores is a lack of information on the electoral roll and this is why some people may need an adverse credit IVA mortgage. When lenders are considering an adverse credit IVA mortgage they will look on the credit report to confirm that the borrower is on the electoral roll and that the name and address match the details they have been given. If this is not possible, a negative credit score may be given and the adverse credit IVA mortgage may not be approved.
3. You have never missed a loan or mortgage payment.
If you have never missed a mortgage payment, then you have sound financial management skills. But nearly 200,000 of us regularly miss at least one mortgage, 
loan or credit card payment. In the long run that could lead to the need for an. adverse credit IVA mortgage. Mortgage lenders who are offering an adverse credit IVA mortgage will look to see how many arrears and defaults are on the credit history. Poor rating in this area will mean that the interest rate on your adverse credit IVA mortgage is higher.
4. You have a secure, 9 to 5 job.
If so, you're very lucky. Employment patterns are changing and many people are now employed on short term contracts. And thousands of us are self-employed. That means no regular income and probably a chequered credit history, as well as and adverse credit IVA mortgage. This type of mortgage caters for those with irregular circumstances and there are several kinds of mortgages available. Some of the adverse credit IVA mortgage deals are flexible, which means that people with fluctuating income can pay more when they earn more and less when they earn less.
5. You have no debts.
Freedom from debt seems increasingly rare, with thousands of us approaching Citizens Advice Bureaux and debt help organisations each month. Debt problems are on the rise, driven by the pressure of rising property prices and interest rates coupled with less job security. Missing a couple of payments can be the start of a problem that leads to the need for an adverse credit IVA mortgage. Under these circumstances people may go bankrupt or opt for an individual voluntary arrangement (IVA) but at least it doesn't mean they can't get a mortgage.
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