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Sprout loans eligbility
Posted: Thu Dec 30, 2021 10:21 am
by jawad
Hi,
Does anyone know if you need to be a home owner to be eligble for a sprout loan to end the IVA early?
Thank you
Re: Sprout loans eligbility
Posted: Thu Dec 30, 2021 11:16 am
by Foggy
As Sprout early release loans are generally secured on property you would need to be a homeowner. However Sprout do offer unsecured lending as well, but I do not know if this would be offered to those in an IVA, as the lending risk is high, or, indeed, whether it would be acceptable to existing creditors. To be honest I would be surprised if your IP would agree, if Sprout would agree and if creditors would agree. You can but ask.
Re: Sprout loans eligbility
Posted: Thu Dec 30, 2021 8:03 pm
by Suki12
Hi , I’m not a home owner and got accepted best thing I’ve done , there’s no harm in trying
Re: Sprout loans eligbility
Posted: Thu Dec 30, 2021 9:02 pm
by Foggy
Thu Dec 30, 2021 8:03 pmSuki12 wrote:
Hi , I’m not a home owner and got accepted best thing I’ve done , there’s no harm in trying
There you go, jawad, always worth an ask.
Re: Sprout loans eligbility
Posted: Sat Jan 01, 2022 6:42 am
by luluj
You would still require the agreement of your IP before taking out an unsecured loan whilst in an iva.