Has anyone been able to release equity in their fourth year?

[jos]

Has anyone been able to release equity in their fourth year i am comeing up to where i will have to look in to this, all so i am with Grant Thornton do they arrange a valuation or do i arrange this.

[Michael Peoples]

It is not easy to release equity and the loan to value for a remortgage is I believe a maximum of 50%. There is a company that offers secured loans in the final year to complete IVAs and there maximum is 75%. Some opt for this route and others have 6th year extensions.

[KF62]

I looked into trying a few months ago, no chance. Most wouldn't even entertain going through the application. I'm doing the extra year but my creditors still wanted proof that I'd made an attempt so be prepared for that.

[Niobe]

You will have to provide written evidence of at least two rejections (depends on your company as to the number)

Check your paperwork to make sure you have the 12 month extension in there or whether or not it need a variation meeting.

[Grant Thornton]

Good morning jos,

Thank you for your post above. Please contact our Customer Service Team on 0844 855 2166 or by email to ivacustomerservices@uk.gt.com (please put "IVA Forum" in the subject line) and we will be able to answer your questions.

We look forward to hearing from you.

Kind Regards

Grant Thornton