www.iva.co.uk

Hi. My IVA got accepted today. I currently live at home with my mum and my daughter.

Recently there have been talks of changing the house over to my name and just wondered if this is possible during an iva

There's no mortgage on the house etc
Can someone advise please

Thank you

I personally would not advise it. You would have to inform your IP and, as the house would be yours, you would be required to try and release some equity by way of either a remortgage (not likely) or a secured loan which means your IVA could possibly be extended. If you could hang on until the IVA is completed then that would be better.

It can be done, but then it would be drawn into your IVA for either equity release or to be sold as an after acquired asset ---- dodgy either way and not at all advisable.

I would look to do this after your iva has concluded and you have your completion certificate to avoid any unnecessary questions around ownership and need to release equity in 4th/5th year of your iva.

Hi Shakila

We are incredibly grateful that you took the time to leave your query here. Prior to giving you the relevant advise, we would require more information regarding the circumstances of the transfer.

Many thanks,
The Debt Movement Team.

Moderator edit: Link removed from post. Please do not share personal information unless your IVA is being conducted by Debt Movement

Hi, Shakila, please do not send personal details unless you are, in fact, a client of Debt Movement UK as I have noted that you have not said that you are anywhere in your post.