I am selling a property. What happens to the equity ?

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Richard.12

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Post by Richard.12 » Tue Oct 14, 2014 12:17 am
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I am selling a property. I am two years into an IVA. There could be aprox 25K equity in the property I am selling. What happens to this equity.
It is definitely less than 85% LTV. Can I keep some of the proceeds?
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Adam Davies

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Post by Adam Davies » Tue Oct 14, 2014 8:33 am
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Hi

You need to speak with your IP

If you are the sole owner then the all of the equity may have to go into your IVA

You may be able to retain enough funds to secure a rental property

Regards
Andam Davies
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