www.iva.co.uk

Hi it's just been confirmed that as the house is solely in partners name the the equity clause will not apply - were in the last year - we have that now in writing - and that the Iva end March 2016.

They have not asked about a secured loan or extending into year 6 is that normal ??

Sounds to me as though it will complete in March next year. I take it the IVA is solely in your name?

I don't think you have a problem then - great news!

Why haven't they gone for a secured loan though or extension - isn't it weird ?

Not if the property isn't in joint names.

If the property is owned by your partner and the IVA is in your name only then no, it isn't weird.

What about not asking to extend or get a secured loan ???

No, if the IVA is totally yours and the property isn't then there is no reason why you should have to extend.

They have no call on any property that is not yours.

Yes understand the property but ! But was t sure why it was included in the first place - RX form completed ??

And then why not extend to year 6??

Is your partner included in the IVA?

No - I have the Iva and partner solely owns the home and mortgage - deeds in their name.

I'm just confused why if they can't touch the equity they have not asked to extend to year 6 or a secured loan rather than end at the end of year 5?

The property is his and so they cannot touch it at all. This is why they will not be asking to extend or for you to do a secured loan.

You couldn't do that anyway on a property that does not belong to you.

Enjoy your freedom.

Thanks guys !!

Think I get it now on the secure loan but why not extend and at put the RX1 in property in first place ?