shared ownership property

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ben.g

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Post by ben.g » Mon Jun 30, 2008 7:40 pm
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Can you still apply for an iva if you have a mortgage on a shared ownership property and own a 50% share of the property?
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MelanieGiles

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Post by MelanieGiles » Mon Jun 30, 2008 7:48 pm
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Hi ben and welcome to the forum

Yes - you would be very much eligible for an IVA, providing your 50% share was relatively modest in comparison to your debts. You will find it difficult, nigh impossible, to raise money from a remortgage during the final year, but ought to now take specific advice from an insolvency practitioner with regard to this matter.
Regards, Melanie Giles, Insolvency Practitioner
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