www.iva.co.uk

Hi, looking for a bit of advice.

Completed my 6 year Iva in October 2020 & within a few weeks received my completion certificate. I’ve since sent the certificate to the big credit reference agencies.

My question is to those of you who have completed too or previously - I settled my Iva 9 months early. Am I facing having to wait the full term of the 6 year Iva for it to update where say Experian, Equifax & Transunion are concerned ? - As I say I’ve sent the completion certificate to all three.

Looking to go for a mortgage later this year (of all years) Does anyone know if:

1. How long is the Iva going to take to show as complete & removed from my credit file for when lenders do their process checks ?

2. Iva complete, never missed a payment, paid off early, have completion certificate - Are mortgage lenders still likely to be awkward due to having previously been within an Iva ?

If you have finished early you will have to wait for the full six years for it to disappear. Just keep an eye on it.

IVA will show until 6th anniversary, along with defaults. Have a read here: https://www.iva.co.uk/what-does-an-iva- ... dit-record

On the mortgage front have a word with Ryan and / or Shaun --- both brokers experienced with adverse credit --- their details can be gleaned from their profile pages:

Ryan: memberlist.php?mode=viewprofile&u=18488

Shaun: memberlist.php?mode=viewprofile&u=22837

The previous IVA will cause an issue with some lenders, yes. Each has it's own, unique, criteria for accepting mortgage applications. That said, as long as you are prepared BEFORE you make an application (this includes checking that you are on the voter's roll, that no other defaults etc. included in the IVA post-date the date of your IVA etc.), then it should be possible to secure a competitive mortgage. This is assuming that there is nothing else in the background and you meet the rest of the criteria. There are still very competitive deals available at the moment, despite the COVID-19 pandemic so don't worry too much on that front.