Individual Voluntary Arrangements - IVA (Years since registered)
Our standard acceptability
6
Criteria definition:
Indicates if we can potentially consider borrowers who have had an IVA and if so how many years ago it must have been registered. An IVA is registered when a payment plan is agreed with the creditors. For example, a home buyer is looking to obtain a 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 and was registered 6 years ago.
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).
Policy Notes:
We will look at satisfied IVAs only three years from when they are satisfied.
Warning Notes:
We will look at satisfied IVAs only three years from when they are satisfied. Multiple examples of adverse credit will result in applications being declined even if over this time period
- Adverse
- IVAs and Bankruptcy
Last updated:
15 August 2018