would an IVA have any effect on my house/mortgage

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K.B

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Post by K.B » Fri Jul 25, 2008 10:46 pm
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hi could you tell me if an IVA would have any effect on my house/mortgage
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Lisa2009

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Post by Lisa2009 » Fri Jul 25, 2008 10:52 pm
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Your house would be safe providing you maintain the mortgage payments but please be aware that sometime in the 4th year of an IVA you would be required to try to remortgage to 85% LTV and release your share of the equity for the benefit of your creditors.
http://mrsskint.blogs.iva.co.uk/ 'Our Story'


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MelanieGiles

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Post by MelanieGiles » Fri Jul 25, 2008 10:59 pm
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The IVA does not affect your mortgage, as this is secured against your property, however as Mrs Skint has explained you may be required to raise some equity during the final year of the IVA.
Regards, Melanie Giles, Insolvency Practitioner
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