Hi, can someone please help me with what is going to happen if at the end of the iva I can't remortgage and I been asked to get a secured loan instead but my partner, which half of the property belongs to him, refuses to allow a secured loan against our property? Can they make you?
If your partner is not in an arrangement he is entitled to say no.
There may be a 12 month extension instead.
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
This should have been addressed at the outset. Your partner would have had to sign consent to refinance and if they did not then an extension seems likely. However creditors could insist on a slae or bankruptcy if he digs his heels in but this is unlikely [depending on who the creditors are and the size of the equity].