Return to the Mortgage Glossary Home to view explanations for all mortgage terms. What follows is the definition for the term Individual voluntary arrangement (IVA) as it relates to mortgages in the UK. Individual voluntary arrangement (IVA)IVA is an individual voluntary agreement. This is an agreement that is reached when debt becomes unmanageable for an individual. It usually represents an arrangement between a borrower and creditors setting personal terms to help the individual out of financial difficulty.
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