i want to sell my house and buy another but worried that IVA will want proceeds of sale

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Ali.c

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Post by Ali.c » Fri Jul 25, 2014 11:12 pm
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hi i want to sale my house and buy another but i'm worried that the iva company will want the full amount paid off before i can buy another property is this correct
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Michael Peoples

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Post by Michael Peoples » Sat Jul 26, 2014 12:19 am
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It will be very difficult to get another mortgage but if you can find one you can transfer the restriction and equity release to the new property. Speak to your IP.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
http://www.mccambridgeduffy.com
If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com
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Adam Davies

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Post by Adam Davies » Sat Jul 26, 2014 9:38 am
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Hi

I think as Michael states you will find it very hard to find a new mortgage if you are in an IVA

May be better to wait until your IVA is concluded

Regards
Andam Davies
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MelanieGiles

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Post by MelanieGiles » Sun Jul 27, 2014 7:59 pm
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Your IP will need to understand the need for the sale and purchase, and be assured that creditors will not be prejudiced by this. Why do you want to sell your current property, Ali?
Regards, Melanie Giles, Insolvency Practitioner
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