Individual Voluntary Arrangements - IVA (Years satisfied)

Our standard acceptability


Criteria definition:

Displays if a lender accepts Buy to Let applications from borrowers who have had an IVA and if so how many years it must have been satisfied for. An IVA is satisfied when the payment plan has been completed. For example a purchaser is looking to obtain a Buy to Let mortgage to fund a house purchase but entered into an IVA 6 years ago which consisted of a 5 year plan to repay the agreed amount to their creditors. The plan was successfully completed without any unsatisfactory conduct so their IVA has now been satisfied for 1 year. They approach their lender of choice who says that in order to be considered for a Buy to Let mortgage borrowers with a history of an IVA must have been satisfied for at least 3 years and so on this occasion the person is unable to proceed with an application with this lender.

IMPORTANT NOTE: An IVA usually stays on the credit file for 6 years from the date it was REGISTERED not from the date it was satisfied which typically occurs 5 years after the date the IVA was entered into (the registered date). This is important because some lenders will specify how long it must have been satisfied for and others will use how long ago it was registered.

This criteria displays how long ago it must have been satisfied so you should read the policy notes carefully to check if the lenders specifies how long ago it must have been registered.

Policy Notes:

We will accept applications from applicants who have had satisfied IVAs for more than three years and with a satisfactory explanation for the circumstances leading up to the IVA.

Warning Notes:

Multiple adverse items may result in the application being declined

Criteria categories:
  • Adverse
  • IVAs and Bankruptcy

Last updated:

29 August 2018