equity release

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linrog

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Post by linrog » Fri Sep 18, 2015 1:13 pm
house valued at 74,995 mortgage redeption 64,300 both buy and I have 5 k deminus clause would we have equity please
full final paid over 29/2/16 cc arrived 12/4/16 its all over
 
 

FormerlyST1100

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Post by FormerlyST1100 » Fri Sep 18, 2015 1:41 pm
With most of the IVA companies they would work it out as 85% of £75000 is £63700 which is less than the £64300 so no equity.

There is one or two trying to take a stance on it being you have equity of £74995 less £64300 = £11595 and so you would have to try and put in £9955 which is wrong in most peoples views with them also not "sharing" the equity between the two of you.

Who are you with as an IP?
 
 

Michael Peoples

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Post by Michael Peoples » Fri Sep 18, 2015 2:30 pm
I agree that it depends on the actual wording of your proposal. You need to check with your own 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
 
 

linrog

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Post by linrog » Fri Sep 18, 2015 8:46 pm
Hb. David rankin
full final paid over 29/2/16 cc arrived 12/4/16 its all over
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