If settlement is taken from your Home Equity at the end of 5 years. Is this in the form of a secured loan and if so isn't that dropping you straight in to debt again?
Many Thanks, Pat
The usual form of raising the money is to extend your secured borrowings, but could also come from friends or family by way of a third party contribution.
If you do borrow by way of a further mortgage, you will be saddled with higher debt repayments but limited to no more than 50% of what you were paying into the IVA.
