A Q for the Natwest experts - internal and external credit checks and an IVA

never-in-doubt

stclair wrote: »

Its not worth the credit search the IVA will get you an automatic decline.

Mate you got to remember having an IVA or B/R (especially spent/completed) means the lender cannot auto-decline without manual intervention and assessment by an underwriter.

All lenders sing from the same hymn-sheet in that any NOC or Public data/CIFAS entries should be (should being the operative word I hasten to add lol) manually assessed.

We know banks don't always follow this course of action but Natwest would not be allowed to close the account if they found out the person used to have an IVA - only if they kept a current account open whilst they had it. So yea, your advice is spot on (as usual - teachers pet!) but its worth noting that applying for a small o/d should not make Natwest close the account......

Just my POV

stclair

never-in-doubt wrote: »

Mate you got to remember having an IVA or B/R (especially spent/completed) means the lender cannot auto-decline without manual intervention and assessment by an underwriter.

All lenders sing from the same hymn-sheet in that any NOC or Public data/CIFAS entries should be (should being the operative word I hasten to add lol) manually assessed.

We know banks don't always follow this course of action but Natwest would not be allowed to close the account if they found out the person used to have an IVA - only if they kept a current account open whilst they had it. So yea, your advice is spot on (as usual - teachers pet!) but its worth noting that applying for a small o/d should not make Natwest close the account......

Just my POV

Yeah your spot on it wouldnt be an auto decline by the system. It would show as a referal then someone would manually look at the application. But 9 times out of 10 itll be a decline anyway as the IVA is deemed as adverse data. But yeah your right they wouldnt close it if the account holder had the IVA after the account was opened but once there out of it they wouldnt get offered any lending until it drops of there credit fille.