Individual Voluntary Arrangements - IVA (Years satisfied)

Our standard acceptability


Criteria definition:

Indicates if we can potentially consider 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 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.

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 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 recult in the application being declined

Criteria categories:
  • Adverse
  • IVAs and Bankruptcy

Last updated:

15 August 2018