we have been in our iva for 2years we have a mortgage but would like to move is it possible and how much dep would we need and could we move to a shared equity property
I would imagine in the current climate it is not advised to try and move mortgages unless you really have to. Sub prime borrowing is at a all time low and it may not appear to be beneficial for those in IVA's to attempt to make a move right now.
Saying that I am no expert and there are I am sure some products out there that may be suitable - why not speak to an independant mortgage broker for advice.
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
How much equity do you have in your current property? People in existing IVAs will not get a better mortgage deal than 80% loan to value at present, so you will need to have a chunky deposit to put down on a new property to qualify. If the equity in your property is included in your IVA, you will need to discuss the implications of moving with your Supervisor, and the new mortgage payments must not be higher than those you are already paying without the permission of your creditors.
