part of a mortgage outside the UK?

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kayl

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Post by kayl » Thu Oct 16, 2008 8:16 pm
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Hi,
Does an IVA effect you if you wish to have or be part of a mortgage outside the UK?.
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Adam Davies

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Post by Adam Davies » Thu Oct 16, 2008 8:49 pm
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Hi
You will have to declare this mortgage and property in your IVA application.
If the property is self sufficient in terms of rental and mortgage then it may be ok.Any equity in it may have to be released and paid into your IVA
Regards
Andam Davies
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MelanieGiles

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Post by MelanieGiles » Thu Oct 16, 2008 11:01 pm
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I do not think that it is the right time to be purchasing property abroad whilst you are part way through an IVA? Is there a specific reason for this which could be justified to creditors?
Regards, Melanie Giles, Insolvency Practitioner
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