moving house during the insovency period?

5 posts Page 1 of 1
 
 

Laura.B

User avatar
Posts: 1
Joined: Wed Sep 12, 2007 8:43 pm
Location:

Post by Laura.B » Wed Sep 12, 2007 8:44 pm
I notice that it is possible to change/gain a new mortgage with IVA status. Is it also allowed that a person can move house during the insovency period?
 
 

MelanieGiles

User avatar
Industry Expert
Posts: 47612
Joined: Tue Jan 09, 2007 10:42 am
Location:

Post by MelanieGiles » Wed Sep 12, 2007 9:02 pm
Hi Laura

The answer to that is yes, providing that your move does not prejudice the IVA in any shape or form. For intance if you own your property, and have an equity release provision during the fourth or final year, you cannot sell and keep the equity money and then buy a smaller property or go into rented accomodation. So the equity provision is transferable from property to property.

Also if you are renting a property, you could only move to another property if the rental level was similar, so as not to disturb your disposable income.

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
Regards, Melanie Giles, Insolvency Practitioner
 
 

nemo1

User avatar
Posts: 33
Joined: Sat Aug 30, 2008 4:49 pm
Location: United Kingdom

Post by nemo1 » Mon Nov 03, 2008 11:56 am
How and where are you going to get a mortgage we tried couldnt get one?
 
 

David Mond

User avatar
Posts: 4896
Joined: Tue Sep 30, 2008 9:31 pm
Location: United Kingdom

Post by David Mond » Mon Nov 03, 2008 12:12 pm
You need to speak to a mortgage broker - someone on this forum will recommend one or two shortly.
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
 
 

Skippy

User avatar
Posts: 20720
Joined: Sat Oct 21, 2006 6:08 pm
Location: United Kingdom

Post by Skippy » Mon Nov 03, 2008 12:16 pm
Andrew Graveson is highly recommended by people on this forum
5 posts Page 1 of 1
Return to “mortgages”