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Posted: **Thu Sep 13, 2007 12:42 pm**

I'm on the first year of an IVA and I'm consdering buying a house with my partner who is not on my IVA.
Will we need to re-mortgage towards the end of my agreement to put extra money into my IVA? If so how much would I have to give them. Is it the remainder of what is owed on my IVA?
Many thanks

Posted: **Thu Sep 13, 2007 12:45 pm**

Hi
If you buy a property post IVA then you will not have to release any equity.
Remember that you will need your IPs permission to take on a mortgage and it must not affect your ability to repay your IVA.
regards

Andy Davie
IVA.co.uk Spokesperson

About me:
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IVA Helpline: 0800 197 4838
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Posted: **Thu Sep 13, 2007 1:34 pm**

Hi steffp

The length of an IVA is usually five years, if during that time you buy a property, even if it's part way through, there is a strong chance that the property will increase in value. Creditors would want any added value, i.e. equity, to be considered at the end of the IVA, but only if the total debt was not repaid in full and there was still a shortfall owed.

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