Moving House IVA

House do you do it? Moving house, the stress & a IVA….

Authored by Phil Meekin

Phil Meekin

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Approximate read time: 2 minutes

Moving house is a stressful time even when things run smoothly; with credit scores and checks, it can sometimes be a surprise when you get rejected, especially from an IVA that’s not yours.

Rejected certification

The following is a testimonial from someone who encountered unexpected complications as the result of an IVA (Individual Voluntary Arrangement).

“I have recently been going through the process of moving into a new property in Sheffield and it’s been a living nightmare.

“My letting agent confirmed I would need to pass a credit check to move in my new property. Due to this, they requested certification from my bank and after 3 weeks, it is still rejected!!

“After years of paying my bills on time and having no credit cards or loans I was shockingly surprised. It turned out it was due to the fact I had had little credit in the past despite having banked with them for 7 years.”

Linked addresses

“My auntie is currently in an IVA (Individual Voluntary Arrangement), her address is somehow linked to mine due to a linked phone contract. Therefore, this is slightly affecting my rating in the long run.

“This clearly goes to show many things can affect your credit rating especially IVAs, even if it’s not yours.

“I now have access to my credit rating via ‘’ (which is free of charge). So, I regularly check it to prevent any further struggles.

“Due to working with insolvency practitioners, I do know credit rating for individuals and businesses is important. I also know that every step should be taken to preserve it.

“I’m now settled at my new home and I don’t think I will ever look forward to moving house again. Due to the stress and the money it costs. Hopefully, I’m grounded now, unless I win the lottery then I’ll obviously be finding myself a mansion.”

In summary

Although IVAs can be a lifeline for those looking to repay the personal or sole trader debts which they can afford, this story shows they can have unforeseen consequences for connected parties. It’s good practice to keep an eye on your credit rating, especially when preparing for a purchase as important as buying a house.

If you’re looking into an IVA, and want more information, or if you’ve experienced trouble with your credit rating, speak to us. Our initial advisors can offer you free, impartial advice with no obligation.

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