www.iva.co.uk

Is it usual for an IVA to last seven years? Discovered today because I can't remortgage, administrator is extending agreement for another 12 months. (It was due to conclude June 2016).

Hi, there yes it can be written in the proposal re equity release that it can be 12 more monthly payments in lieu of equity.

I would check your proposal thoroughly.

Depends on wording, whether nram involved as well.

However extension should be in basis that cannot release equity that is over £5k.