If I buy another property during my IVA

[jodo]

Hi, I'm currently in an IVA and also selling my property, the equity of which is going to the IVA. If I buy another property during the course of my IVA, when the IVA is finished, do I have to give any equity in the new property over to the IVA?
THanks

[Cybus]

You are selling your property and introducing the equity in to your IVA.
I assume you are moving in to rented for the time being?
If you wanted to buy another property, how would you be planning on financing your deposit (I assume there will be one?). You will not be in a position to obtain any credit to finance it. I can't see clearly how you intend to fund any new property

Tell it like it is.

[MelanieGiles]

Technically the answer to this is no, but Cybus raises a good point - how would the new property be funded?

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

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

[iva experts]

If you have completed your IVA then I wouldn't think any equity from the new property would need to go into the IVA as it is completed. Do you have friends or family that are helping you fund a deposit?

Best Regards,
IVA Experts
http://www.iva-experts.co.uk/