Hi rpw and welcome to the forum
You will need to check the express terms of your IVA proposal and Chairman's Report to find the answer to this question, as there are many differing clauses referring to equity release at the moment. What did your IP advise you when you entered into the arrangement? And I suggest that you take advice directly from him/her on this important matter, as they have detailed knowledge of your case.
Generally, so long as you can demonstrate that a re-mortgage is not possible, this should satisfy creditors, but I am slightly concerned that this was not highlighted at the creditors meeting as a concern.
Regards, Melanie Giles, Insolvency Practitioner for over 20 years.
To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp
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http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp