Hi matt.b
You can repay the balance of an IVA early - it depends on how long you have been in your IVA. You need to check your IVA wording regarding a F & F - some have wording in them saying that you may not settle within the first 24 months of the IVA.
You can sell your home whilst you are in an IVA - you need to speak to your IP about this as they have no doubt asked you to sign an RX1 form which means that the house equity will be there to pay your creditors the maximum of your debt.
I suggest you get in touch with your IP and put the scenario to them. If you are looking to "downsize" by buying a smaller property thereby reducing your mortgage payments , remember you need to have a 15% deposit and you would need to consult a broker who works within the sub-prime market as you will have difficulty obtaining a mortgage from high street banks with good interest rates whilst you are in an IVA.
Hope this helps
Sue
Ho Hum! Think I'll bang my drum!
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