Releasing of equity - how?

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whitefuschia

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Post by whitefuschia » Fri Nov 14, 2008 2:32 pm
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Hi, I'm looking into IVA's and was wondering how a person with an IVA can re-mortgage their property to release equity as they are unable to get credit.
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Welsh Boy

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Post by Welsh Boy » Fri Nov 14, 2008 2:40 pm
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Hello whitefuschia

It is quite common practice for those in an IVA to remortgage their property to capital raise and pay monies into the IVA.

If you are in an IVA you would need permisiion from your IP, if this is granted and there is scope to remortgage then you could discuss this with a suitably qualified broker.

The loan to value will be crucial in this type of transaction at the present time.Hope this helps. Tony
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MelanieGiles

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Post by MelanieGiles » Fri Nov 14, 2008 4:31 pm
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Tony

What is the maximum loan to value you are able to get for people with a well conducted IVA? And what interest rates are available right now?
Regards, Melanie Giles, Insolvency Practitioner
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Welsh Boy

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Post by Welsh Boy » Sat Nov 15, 2008 9:42 am
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Loan to value tends to be 75-80% and the rate varies according to the lender and scheme on which the case fits.
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