thank again Lisa

font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade> Originally posted by kallis3 Yes, the secured loan is treated the same as a mortgage as both of those need to be paid as a priority. It will be deducted from the value of the property. Thanks Bob If the split equity after ...

font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade> Originally posted by Lisa Thomas Yes the terms are usuaully worded that the debtors interest needs to be over £5k for the clause to kick in. Get your own valuation if necessary and order a 'redemption' statement from the b...

font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by Foggy

Yes, if you own the property jointly -- any calculation should only be based upon her share of equity.

Thanks for your reply

My wife entered into a IVA and is coming to the end of the 60 month period this month. The debt was incurred by herself and has no connection myself. She has been informed that she must provide proof of the equity in the mortgage is less than £5000. Is the equity value split between us?

Thanks to all that have commented so far .... the advice is very much appreciated

if in future when the interest rate rises and we look to change our current mortgage lender would my wife being in IVA act against us.

thank you too Jan

thank you too Jan

Thanks again Tina

Hi I have a joint mortgage with my wife. She has just informed me that she has debts from a previous relationship and she has been struggling to service the debt. She has had some advice to consider going for IVA. Since the mortgage is in joint names will have any effect on it. If so - could you tel...

Hello Tina
Thank you for the advice, my wife has spoken to at least one adviser about IVA. Just another question if I may.
She has also been told of the option for debt management plan, which I believe she said would 12 years to complete. Which in your opinion is the better option?
Thanks again

HI I have just found out that my wife has a large amount of unsecured debt around 20K from her previous marriage. She is considering entering into IVA. As we have a joint mortgage will entering the IVA have any effect on that? I believe that the house is in negative equity at present. Should I consi...