Declaring Iva for mortgage

[ermmm2021]

If an iva is wiped from your record after 6 years then do I have to declare it after that point when applying for a mortgage?
How will they know if I don't?

If the mortgage provider specifically asks the question on the mortgage application then you 'have' to declare it. If you choose not to and it is discovered further down the line then I presume your mortgage would be cancelled and you could find yourself investigated for mortgage fraud and would struggle to get a mortgage again.

Some providers will not lend to someone who has ever had an IVA, but there will be some that do once it is settled. Your best bet is going through a mortgage broker, they will be able to match you to the best provider.

Only if they specifically ask.

Yes you still need to say but it’s highly unlikely to be an issue.

I would have thought it would have really reduced my chances if declared

And that it would just be a standard question

When you have paid it off ask for it to be taken off your credit file

When you have paid it off ask for it to be taken off your credit file

Why would they remove it? Your credit file is a reflection of your financial affairs, the only reason they would remove it is if it was reported in error.

Only if they ask.
After 6 years it will be gone and then they won't know.

They do remove it from your credit file after it has been settled

I'm pretty sure it just shows as settled until the 6 years has passed.

It is recommended to declare it but not compulsory.

However if it is specially asked you should not lie on your mortgage application.