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Private mortgage. I purchased my house approximately two years ago via a combination of a mortgage from the bank and a private mortgage from my parents (all documented via our solicitors). But the combined effect of this is that there is no equity in the property. Now, as with most on here im looking at either an IVA or bankruptcy. I was wondering how this private mortgage would be treated by my creditors as i would sooner sell the property and give them back what i could rather than see it go to any creditor.

I am sure that I answered this question on the forum a few days ago. Did your parents register a charge at H M Land Registry> If so their security is good and you ought to be able to sell the property and then repay them.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk